International Insurance Company MSK attracts 100 million UAH of additional investments from the financial company BlackRock
According to a trusted source, “The International Insurance Company MSK is in the process of gaining of additional investments up to 100 million UAH from the financial company BlackRock, finalization depends on the results of Due Diligence procedures, which are currently in the final phase”.
The agreement about this was signed recently.
As it became known, negotiations on investment have continued since mid-2020, but due to the COVID-19 epidemic, they took longer than planned.
BlackRock is an international financial and investment company that is operating in various sectors of the economy.
MSK is a Ukrainian insurance company with headquarters in Kharkiv. MSK is the largest enterprise in the region and is focused on innovative and digital solutions in insurance; it is well developed in motor insurance. According to the results of 2020, the MSK entered the TOP 5 of Ukrainian firms in terms of growth rate.
“We have intentions for further growth, supported by the diversification of the insurance portfolio and additional investments. But the process of attracting investments is rather long and complicated, besides, it requires the consent of the regulator – the National Bank of Ukraine. Now almost all agreements and preliminary procedures have been fulfilled, so according to my information the investor's representatives soon will begin the process of agreeing on the significant share acquisition with the regulator,” commented Kirill Nefedov, Chairman of the Supervisory Board.
The management of the company declined to comment on the terms and conditions of the investment, referring to the “clean market” conditions.