The National Bank of Ukraine canceled the licenses of six insurers: IC Mega-Garant JSC, IC Benefit ALC, IC Kastodi ALC, PA Europolis PJSC, IC Arma PJSC, IC Dobrobut i protection” and temporarily stopped the licenses for insurance activities of PJSC “IC “Universal policy”.
As stated in the message of the NBU on Friday, July 29, 2022, measures were applied to Mega-Garant, and on September 17, to ODO IC Benefit in the form of a temporary suspension of licenses, as insurers did not comply with mandatory monetary standards.
“The violations were not eliminated within the prescribed period, and the financial condition of Mega-Garant and Benefit remained critically unsatisfactory,” the regulator said.
With regard to Custody, Europolis, Arma, Dobrobut and Zashchita, the NBU explained the cancellation of licenses by establishing the facts of risky activities carried out by insurers.
“Thus, the facts of committing by insurance companies two or more violations of mandatory criteria and norms for capital adequacy and solvency, liquidity, profitability, asset quality and riskiness of operations have been established,” the regulator said.
It is specified that the decisions of the NBU Board in relation to these six were adopted on November 10 and entered into force on November 11.
As for the “Universal Policy”, as indicated by the National Bank, according to the results of the analysis of the statements for 9 months of 2022, it was found that the insurer violates the mandatory solvency and capital adequacy ratio.
“The insurer has a deadline for eliminating violations until December 12, 2022. This decision was made by the Committee for Supervision and Regulation of Non-Banking Financial Services Markets on November 11,” the regulator said in a statement.
The NBU also announced that it imposed a fine on ALC “IC” Arsenal Life “in connection with the establishment of the fact that the insurer carried out unlicensed activities based on the results of an unscheduled inspection.
The decision on the “Universal Policy” comes into force on November 12, on “Arsenal Life” – on November 14.
The insurance portfolio of PJSC IC Universalny Polis is formed by insurance of medical expenses (48.9%), property insurance and financial risks (28.7%). For 9 months of 2022, the insurer collected UAH 50.1 million of insurance payments, of them UAH 42.9 million – from reinsurers, and paid UAH 24.3 million of insurance payments.
IC “Mega-Garant” is included in the banking group of Megabank, which was withdrawn from the market, carried out activities in the non-life segment, including with OSGPO. In the first half of 2022, the insurer collected UAH 50.6 million of insurance payments (of which more than 80% are accounted for by OSGPO) and paid out UAH 9.2 million of insurance claims. The company ranked 21st among the largest companies operating in the OSGPO market, and has a 1.5% market share in terms of insurance premiums for this type of insurance.
ALC “IC” Benefit “formed a portfolio by insuring financial risks, cargo and luggage, land transport. For 9 months of 2022, the insurer collected UAH 1.8 million of insurance payments and paid out UAH 407 thousand of insurance claims.
ALC “IC “Custodi” operated in the non-life segment. The insurance portfolio was formed mainly due to the receipt of insurance premiums from legal entities (59%) and reinsurers (36%). In the structure of premiums for 9 months of 2022, property risks insurance prevailed ( 32%), cargo and luggage insurance (26%), financial risk insurance (24%) The level of payments for 9 months of 2022 was 0.02%: UAH 284 million of insurance payments were collected, of which UAH 101.8 million were from reinsurers , and paid 46 thousand UAH of insurance compensation.
PJSC “PA “Europolis” operated in the non-life segment. The insurance portfolio was formed mainly due to the receipt of insurance premiums from legal entities (76%) and reinsurers (18%). In the structure of premiums for 9 months of 2022, medical expenses insurance prevailed ( 29%), CASCO insurance (26%), cargo and luggage/cargo luggage insurance (25%) The level of payments for 9 months of 2022 was 7%: UAH 8.3 million of insurance payments were collected, of which from reinsurers – 1.5 million UAH, and paid 612 thousand UAH of insurance compensation.
PJSC IC “Arma” carried out activities in the non-life segment. The insurance portfolio was formed due to the receipt of insurance premiums from legal entities (82%), domestic reinsurance (18%), by types of railway transport insurance (52.5%), cargo and luggage insurance (14.0%), property insurance (12 .6%), CASCO (9.1%). For 9 months of 2022, the insurer collected UAH 79.1 million of insurance payments, of which UAH 13.9 million from reinsurers, and paid UAH 458.7 thousand of insurance claims.
ALC “IC “Dobrobut and Protection” carried out activities in the non-life segment. The largest volume of payments in the portfolio falls on property risks insurance (55%) and third party liability insurance (22%). For 9 months of 2022, the insurer collected 202, UAH 5 million of insurance payments, of which from reinsurers – UAH 130.4 million and paid UAH 109.6 thousand of insurance payments
The transmission system operator NPC Ukrenergo announces on Friday, November 11, power outages exclusively on schedule throughout Ukraine, most of all traditionally in the Central and Northern regions.
“The largest volume of restrictions will be introduced in Kyiv, Kyiv, Chernihiv, Cherkasy, Zhytomyr regions,” the company said in a telegram channel on Thursday.
According to the information, the planned shutdown regime will operate from 05:00 to 23:00 in Kyiv, Kyiv, Chernihiv, Cherkasy, Zhytomyr, Sumy, Kharkiv, Poltava and Donetsk regions, from 15:00 to 20:00 in all other regions of Ukraine.
At the same time, the company is reminded of the need to save electricity.
“Please do not turn on several powerful electrical appliances at the same time during the day, especially during peak hours of consumption – from 6:00 to 11:00 and from 17:00 to 23:00,” the NEC urges.
The growth of consumer prices in Ukraine in October 2022 accelerated to 2.5% from 1.9% in September, 1.1% in August and 0.7% in July, the State Statistics Service (Gosstat) reported on Thursday.
In October last year, inflation of 0.9% was recorded, so in annual terms, in October this year, it rose to 26.6% from 24.6% in September, 23.8% in August, 22.2% – according to the results of July and 21.5% – according to the results of June.
Core inflation fell to 1.9% last month from 2.4% in September and 2.1% in August.
Since the beginning of this year, over ten months, consumer prices in Ukraine have increased by 24.8%, while core inflation was 20.1%, the State Statistics Service said.
In mid-October, the National Bank kept its inflation forecast for 2022 at 30%, while the government improved it from 30.1% to 29.3% at the end of October.
In the consumer market in October, prices for food and non-alcoholic beverages rose by 4.2%. Most of all (by 60.5%) eggs have risen in price. Prices for lard, vegetables, fruits, meat and meat products, soft drinks, fish and fish products, cheeses, butter, and milk increased by 11.3-2.3%. At the same time, grain processing products fell in price by 4.8%.
Prices for alcoholic beverages and tobacco products increased by 0.9%, incl. for tobacco products – by 1%, alcoholic beverages – by 0.8%.
Clothing and footwear rose in price by 1.9%, including footwear – by 2.1%, clothing – by 1.7%.
The 1.2% increase in prices in the healthcare sector was primarily due to the increase in the cost of hospital services by 1.8% and outpatient services – by 1.6%.
Transportation prices rose by 0.8%, mainly due to a 1.5% increase in vehicle prices. At the same time, fares in railway passenger transport fell by 5.1%.
As reported, in 2021 inflation in Ukraine rose to 10% from 5% in 2020 and 4.1% in 2019, while core inflation rose to 7.9% against 4.5% a year earlier.
Distribution system operator DTEK Kyiv Electric Grids has added the addresses of legal clients to the schedule of stabilization outages.
“Business owners can now find out about possible blackouts by simply writing their business address in the search box on the site. This will allow them to plan their business and prepare for a possible blackout,” the company said on Facebook on Wednesday.
It is clarified that almost 10 thousand addresses of legal clients have been added to the schedule of potential outages, which are located in buildings that have a separate address from an apartment building and were not previously included in the stabilization outages database.
In addition, it is noted that the company continues to expand the address base in the charts. “If your address is not on the schedule, but there is no light, please let us know via the feedback form on the website of DTEK Kyiv Electric Grids. We will definitely check everything and add your business address to the schedule if necessary,” the company explained.
Specialists of the governmental team of response to computer emergency events in Ukraine CERT-UA warn of the mass distribution of emails with malicious links, allegedly on behalf of the State Service for Special Communications and Information Protection of Ukraine.
“If you click on a link from an email, a RAR archive will be created on your computer (for example, 11/08/2022.rar) containing a shortcut file called “VBI tools with an expert opinion on compliance with the requirements of technical information protection”. lnk”. Opening this file will lead to the download of malware, including those that steal data,” the message said on Wednesday.
According to him, experts associate such activity with a group of hackers UAC-0010 (Armageddon).
“At the end of October, malicious emails were sent out on behalf of a number of structures in the security and defense sector – the press service of the General Staff of the Armed Forces of Ukraine and the Security Service of Ukraine. Therefore, it is possible that hackers can use such a “cover” in the future,” CERT experts noted. -UA.
As reported, the hacker group UAC-0010 (Armageddon) is associated with the FSB of the Russian Federation. Since the beginning of Russia’s full-scale military invasion of Ukraine, they have been on the list of the most active groups attacking Ukraine.
The Club of Experts YouTube channel has released another video announcing the events which will take place in Ukraine and in the world from November 7 to 13, 2022. In the new release the founder of the Club of experts Maksim Urakin and co-host Olga Levkun analyzed the main events planned for the nearest future.
This week in Ukraine there will be a number of events devoted to the development of business, the implementation of new technologies in the agricultural sector, IT-innovations and other topics. Among these events we should mention the presentation of a free support tool for Ukrainians on digital security – Nadiyno online platform, as well as the Ukrainian-Slovak Business Forum to be held in Uzhgorod.
In the world this week there will also be a number of major conferences and forums. Several meetings of the EU Economic and Financial Affairs Council will be held in Brussels to discuss the EU budget for the next year; on November 10-11 in Washington the International Monetary Fund will hold its annual research conference devoted to the world economy; and in France there will be the Paris Peace Forum, designed to bring together heads of state, representatives of international organizations, business leaders and civil society. November 13, Bali will also host the Business 20 Summit (B20) on the theme “Promoting innovative, inclusive and shared growth,” which will be a prologue to the main global political event of this autumn: the G20 Summit.
The main sporting events in the next seven days will be the basketball qualifying matches for the World Championship and the Formula 1 Brazilian Grand Prix. Read more details about the future sports events on the portal Sport.ua. The full version of the video can be viewed at the link:
Subscribe to the Club of Experts channel here: https://www.youtube.com/channel/UC4plQ0XBaoLOKPIXrb1aMGQ.
ANNOUNCEMENTS, CLUB_EXPERTS, EVENTS, URAKIN, ЛЕВКУН, МАКСИМ_УРАКИН
