Ukrainian financial system is gradually being developed to fit current needs of the newly emerging market relations' in the region.
The region is currently serviced by 8 local insurance companies and 13 insurance companies branches of other Ukraine regions, seven independent commercial banks and 26 branches of the central bank and other regional banks. Their operations are controlled by regional branches of National Bank of Ukraine, in accordance with " The Law about Banks and Banking Activity ".
There are 12 investment companies and funds, 7 trust companies and 75 audit firms in the region. The activities of the regional insurance companies are controlled by the Ukrainian Committee of Insurance Activity Supervision.
When providing insurance for export-import contracts, regional insurance companies cooperate with transnational insurance group "Ingosstrah" which is represented in Ukraine by insurance company "Ostra-Kiev".
Reliability and financial stability of TIG "Ingosstrah" is guaranteed by 40 years-long experience in international credit insurance and insurance funds of more than $940 million. the substantial parts of which are placed as deposits in respected European and American banks.
Export credits are additionally supported by the automatic reinsurance through the leading German, French and American companies, such as "Gerling", "Skor", "Sent Paul", "ERK-Frankona". Total insurance funds of TNG "Ingosstrah" partners are tens of billions dollars.
Partnership of the leading regional insurance companies with the biggest insurance and reinsurance companies of Ukraine and the world makes possible to insure big property and finance risks of regional enterprises and investors.
The State Securities and Stock market Commission executes the turnover of securities in the region.