Fortis Life Insurance renamed Fidem Life

Kyiv, April 7 (Interfax-Ukraine) – Kyiv-based Fortis Life Insurance has announced the start of its rebranding through its being renamed Fidem Life, the company's board chairman Gijs Jeuken said at a press conference at Interfax-Ukraine on Thursday.

He said that the new name of the company - Fidem Life - comes from the Latin word fidem, which means "confidence." He added that the renaming of the company was linked to its acquisition by Horizon Capital Investment Company.

Jeuken said that Fidem Life aims to become a leading player on the life insurance market in Ukraine in the near future and by 2014 occupy a 15% share of the market. Among the other tasks of the company is the further development of own agent chain, the optimization of sales through intermediaries and increasing the corporate sales share of its portfolio.

In addition, it is planned to bring sales through bank insurance to the pre-crisis level.

Taking into account the approaching launch of pension reform in Ukraine, Fidem Life is setting the goal of presenting new investment and pension programs, introduce IT processes (including an internal Web portal and GRM systems) and considerably increase the quality of its client servicing.

Fortis Life Insurance Ukraine's core business was life insurance. Before September 16, 2010, the company was part of the Fortis Holding (Fortis Insurance International) group.