FFH Ukraine Holdings

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EBRD invested into PJSC Insurance Company Universalna ("Universalna") in 2011 and became a minority shareholder. Following the changes in the ownership structure, in November 2019, EBRD became 30% shareholder in LLC FFH Ukraine Holdings ("FFH Ukraine"), which owns Universalna, PJSC Insurance Company ARX ("ARX") and ALC Insurance Company ARX Life ("ARX Life") to support the insurance sector development and market competition. The remaining 70% of FFH Ukraine is ultimately controlled by Fairfax Financial Holdings Limited ("Fairfax"). The operation will support consolidation of ownership in the highly fragmented insurance market of Ukraine, support market competition and growth, enable operating companies to benefit from the ownership of a strategic insurance investor and support development of the non-bank financial sector in Ukraine. The main sources of transition impact will stem from Competitive and Resilient qualities, through supporting consolidation of ownership in the fragmented market, market competition, further development of the non-bank financial sector, and promotion of high corporate governance and business conduct standards. FFH Ukraine is the holding company of three sister companies, Three companies have generated UAH 2,811 million (USD 114 million) gross written premium in FY2018 collectively. FFH Ukraine is ultimately majority controlled (70%) by Fairfax Financial Holdings Limited, a Toronto based financial company engaged in property, casualty, insurance and reinsurance and listed on the Toronto Stock Exchange. Equity investment. Categorised FI (ESP 2014).Universalna, ARX and ARX Life will be required to comply with EBRD's Performance Requirements 2, 4 and 9, implement EBRD's E&S risk management procedure for insurance and submit Annual E&S Reports to the Bank. None. Universalna - Olga Tsymbalyuk: OTsymbalyuk@universalna.com ARX/ARX Life - Nonna Ryzha: Nonna.Ryzha@arx.com.ua