Business news from Ukraine

Business news from Ukraine

TAS GROUP SEES 12.9% RISE IN PREMIUMS IN FEB

The TAS insurance group in February 2020 collected UAH 141.82 million of insurance premiums, which is 12.9% more than in February 2019, the insurer said on its website.
Most of the premiums (37.17%) accounted for compulsory insurance of vehicle owners’ civil liability (OSAGO), of which UAH 52.72 million were collected. This is 31.6% more than a year ago.
Under the voluntary car insurance (KASKO) policies, TAS insurance group attracted UAH 32.08 million in premiums, which is 22.62% of the total insurer’s income for the month, and more than 1.5 times exceeds the same indicator of February 2019. Under the Green Card policies, premiums amounted to UAH 28.5 million (a rise of 20.95%), under voluntary medical insurance policies – UAH 4 million, which is 56.8% higher than the same indicator for the second month of last year. Under other insurance policies in February the group attracted UAH 18.52 million of premiums.
In February, the company paid UAH 70.46 million as indemnities, which is 25.6% more than for the reporting period last year.
More than a third of all insurer payments per month – 35.34% – accounted for compulsory civil liability insurance policies of car owners, under which a total of UAH 24.9 million was reimbursed.
KASKO is in the second place of the February payments portfolio with a share of 30.4%: UAH 21.42 million was reimbursed under the ground transport insurance policies – 32.3% more than a year ago.
Under voluntary medical insurance policies, TAS paid UAH 10.15 million, which is 14.4% of the company’s total payments and 60.4% higher than in February last year.
The share of the Green Card of the payment portfolio of the company amounted to 12.89%: under the relevant policies, TAS compensated UAH 9.09 million during the month, which is over 1.5 times more than in February 2019.
Under other insurance policies, UAH 4.9 million of insurance indemnities were paid.

UKRAINE IS HOLDING TALKS ON SUPPLY OF HYDROXYCHLOROCHINUM

Ukraine is holding talks on supply of medicines with active substance Hydroxychlorochinum, which in particular are prescribed to treat malaria and showed the efficacy against the coronavirus disease COVID-19, Head of the parliamentary committee for health of the nation and medical insurance Mykhailo Radutsky has said.
“There is such a drug – hydroxychlorochinum, which is prescribed for the treatment of malaria, rheumatoid arthritis and some dermatological diseases. There are no clinical trials of the efficacy of treating COVID-19. However, the corresponding clinical trials are being conducted in the United States, Europe and China. The law that we plan to adopt will allow us to apply this drug during the treatment of COVID-19. Today, we are looking for this drug around the world, countries have banned its export, consider it strategic,” he said in an exclusive interview with Interfax-Ukraine.
Radutsky said that negotiations on the purchase of the drug are underway, in particular with India.
“This is the second day in negotiations with the government of India, where this drug is also being manufactured. We are waiting for their decision,” he said.

UKRAINE SWITCHES TO DAYLIGHT ON MARCH 29

Ukraine will switch to summer daylight saving time in the early hours of March 29, 2020.
“We inform that according to Cabinet of Ministers resolution No. 509 of May 13, 1996 on the procedure for calculating time on Ukrainian territory in the territory of Ukraine on March 29, 2020 at 03.00 Kyiv time the summer daylight saving time is introduced with clocks moved one hour forward,” the department of the technical regulation and metrology of the Ministry for Development of Economy, Trade and Agriculture of Ukraine.

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KYIV INTRODUCES 50% DISCOUNT ON MUNICIPAL PROPERTY LEASE FOR SMES

Kyiv City Council at an extraordinary meeting on Thursday, March 26, established a 50% discount for small and medium-sized enterprises (SME) to pay lease of municipal property due to quarantine measures.
“We promised and found a mechanism to reduce financial burden on small and medium-sized businesses operating in the capital, and which is most vulnerable in this difficult time for the city and the country. Small and medium-sized businesses will get the right to these benefits starting March 11,” the press service of Kyiv City State Administration said, citing Kyiv Mayor Vitali Klitschko.
According to the statement, by the end of July 2020, entrepreneurs are provided with a 50% discount on the payment of communal property leases, and if the property cannot be used, tenants are also exempted from the lease payment until July 31.
According to Kyiv City State Administration, about 900,000 square meters of non-residential communal property are leased in the capital, most of which are rented by about 6,000 small and medium-sized entrepreneurs.

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KHMELNYTSKOBLENERGO DOUBLES NET PROFIT

PJSC Khmelnytskoblenergo, according to preliminary data, doubled its net profit (by UAH 42.9 million) in 2019 compared to 2018, to UAH 85.711 million.
According to the statement on the website of Khmelnytskoblenergo on Thursday, Mach 26, about holding a general meeting of the company’s shareholders scheduled for April 30, 2020, its assets grew by 2.26%, to UAH 2.507 billion, fixed assets by 4.7%, to UAH 2.150 billion in 2019.
The meeting’s agenda contains four scenarios for the distribution of the company’s profits: it is proposed to pay 30%, 50%, 75% or 90% of these funds in dividends. The remaining funds should be allocated to replenishment of the company’s reserve capital (5%), replenishment of the fund for the company’s technical re-equipment or to the implementation of the expenses stipulated by the 2020 financial plan, depending on the amount of dividends.
The shareholders will also have to consider, in particular, the issue of granting consent to the alienation of the company’s share of 100% in the charter capital of Khmelnytskenergozbut LLC by selling at auction in ProZorro.Sale system.
The shareholders also intend to update the supervisory board and the audit committee, to amend the charter and to elect an external auditor of the company.

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SOWING CAMPAIGN AMID QUARANTINE STARTS QUITE WELL IN ALL UKRAINIAN REGIONS

The sowing campaign amid quarantine started quite well in all regions of Ukraine, the pace is approximately the same as in 2019, with a slight advance due to early spring, Director General of UkrAgroConsult consulting agency Serhiy Feofilov has said.
“The import component in sowing resource is still very high. Nevertheless, the main material and technical resources were imported into Ukraine and purchased by farms before the quarantine and the devaluation. The negative impact on cost of production is still minimal,” the agency said on UkrAgroConsult’s website, citing Feofilov.
Feofilov said that it is a positive point in the fact that corn seeds are mainly produced at Ukrainian seed plants, only parental forms are imported. The expansion of spring grain will be precisely due to corn. The situation with plant protection is almost the same, namely all needed is imported, except that the line of products will decrease against expectations, the top manager said.
“The situation is contradictory in terms of fuel. Fuel supply is sufficient and the main intrigue is the price level. On the one hand, we can expect it to decline after the oil falls. On the other hand, fuel sellers tend to price stabilization, given hryvnia devaluation and a possible reduction in supplies,” the director general of UkrAgroConsult said.

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