The number of insurance companies in Ukraine in May 2024 decreased by one company and as of the end of the month there are 83 risk insurers in the market, 12 specialize in life insurance, one – with a special status (“Export Credit Agency”), according to the website of the National Bank of Ukraine (NBU).
In general, the number of participants in the country’s non-banking financial market in May decreased from 1,045 (as of April 30, 2024) to 1,014 (as of May 31, 2024).
The number of banks remained unchanged – 63.
According to the NBU, 26 financial companies, one risk insurer and two pawnshops were forcibly removed from the register. At the same time, one collection company and two credit unions were excluded on the applicant’s initiative. At the same time, one collection company was included in the register.
During May, eight financial companies, one insurer and one pawnshop had all their licenses revoked forcibly, while another 18 financial companies, one pawnshop and two credit unions had their licenses revoked voluntarily.
As of May 31, 2024, 555 financial companies (581 in April), 83 non-life insurers (84), 12 life insurers (the number has not changed), one insurer with special status, 119 pawnshops (121), 125 credit unions (127), five lessors, 40 insurance brokers and 74 collection companies (the number has not changed) were operating in the market of non-banking financial services.
The State Property Fund (SPF) of Ukraine carried out the debut sale of the nationalized plant: at the repeated auction in the system “Prozorro.Sales” was sold for 103.11 million UAH plant for the production of meat casing PJSC “PentoPak” (Boryspil), said the head of the SPF Vitaly Koval.
“The buyer has 20 days to pay the cost of the lot. In addition to the proposed cost, the investor has already paid a guarantee fee of UAH 20.375 million”, – he said in Telegram.
The head of the FGI reminded that “PentoPak” was confiscated from the family of Russian-Greek oligarch Savvidi, and the funds from its sale will go to the restoration of our state in the Fund for the elimination of the consequences of Russian aggression.
The buyer was Lonikos LLC (Kiev), whose director is Larisa Ashkinazi.
According to the Opendatabot, the main activity of the company is renting and operating its own or leased real estate. Also “Lonikos” is engaged in non-specialized wholesale trade and activities of intermediaries specializing in trade in other goods.
As reported, on May 31, after the first fruitless auction scheduled on “Prozorro.Sales”, the plant was put up for a second auction at a halved price – for UAH 101.87 million.
The FGI reported that the plant provides a full cycle of production of packaging for meat processing products. “PentoPak” produces multi-layer synthetic shrink casing, using advanced technologies. The company’s customers include well-known Ukrainian brands such as Rud, Globino, Meat Guild, as well as customers from more than 30 countries.
The enterprise has preserved 193 jobs, has no debts on wages and to the budget. The company plans to modernize production and enter new markets of packaging materials for the dairy industry, fish processing and animal feed packaging.
Earlier, in February 2024, the SACS decided to confiscate Savvidi’s property and transfer 100% of PentoPak shares to the State Property Fund, as the oligarch has close ties with the Russian leadership and supports the occupation authorities in the temporarily seized territories of Ukraine.
The number of bankrupts since the beginning of the year
343 Ukrainians filed for bankruptcy in the first 5 months of 2024, according to the Supreme Court. This is 2.2 times more than last year. In total, almost 2,000 bankruptcy cases have been opened in Ukraine over the past 5 years.
Since the beginning of the year, 343 Ukrainians have filed for insolvency. The number of bankruptcy cases increased by 2.2 times compared to the same period last year. By the way, 575 people received this status last year.
The fewest bankruptcy cases were opened in 2019. It was the first year when the law allowed citizens to declare themselves insolvent in court. Back then, 22 bankruptcy cases were opened. Since then, the number of people who wanted to declare themselves insolvent has been steadily increasing: 8.3 times in 2020 and 2.7 times in 2021.
“In my opinion, court statistics do not reflect the real number of debtors in difficulty who could benefit from bankruptcy proceedings. However, this procedure is not well-known and widespread among Ukrainians, and there are several reasons for this: it is expensive, complicated and incomprehensible without the help of a lawyer, for whom the debtor may simply not have the funds. In addition, creditors and financial institutions are not very willing to file their claims in such court cases, hoping to collect the debt after the person’s solvency is restored and save on legal fees, or vice versa, trying to torpedo the procedure by discrediting the debtor. On the other hand, citizens also need to realize that this procedure is not about writing off debts, but about trying to find an agreement with creditors through the court procedure and the insolvency officer,” comments Denys Likhopiok, attorney at law, insolvency officer, member of the Qualification Commission of Insolvency Officers, bankruptcy specialist.
In total, 1,993 bankruptcy cases have been opened against Ukrainians. Every second bankrupt is between the ages of 25 and 45: 58% or more than 1.1 thousand. A third of bankrupts are over 45 years old – 38.3% or 764 people. The lowest number of bankrupts is among young people under 25 – only 3.7%.
The gender distribution was almost equal. 54% of all bankrupts are men, and 46% are women.
Context.
The Verkhovna Rada allowed individuals to become bankrupt in October 2018. The procedure became fully operational in 2019. Since then, a person in a difficult financial situation can initiate bankruptcy and, after going through the entire procedure, get rid of debts.
https://opendatabot.ua/analytics/people-bankrupts-2024
The investment income of PZU Ukraine Life Insurance Company (Kyiv) for 2023 amounted to 14.59% in UAH and 3.32% in USD, according to the insurer’s information.
“This result was achieved due to the company’s balanced investment policy aimed at achieving the maximum result,” the statement said.
As reported, the company’s investment income in 2022 amounted to 11.24%, in 2021 – 10.52%, 2020 – 13.62%, in US dollars in 2022 – 2.21%, in 2021 – 2.71%, 2020 – 3.56%.
As reported, in 2023, PZU Ukraine Life Insurance collected UAH 401.220 million in net premiums, which is 1.2% more than a year earlier. last year, it paid out UAH 75.847 million in compensation (11.4% more).
Supervisory Board of JSC “Insurance Company ‘Opeca’ (formerly – IC ‘Point’, Kiev) on June 6 terminated the powers of the head of the Board of Directors Oleg Bazaliy and a member of the Board of Directors Marina Dudnik, reported in the official information of the insurer, posted in the system of the National Commission on Securities and Stock Market.
It is also noted that they have held office since December 2022 and no one has been elected instead of them.
In addition, the nabsovet terminated the powers of a member of the Board of the company Svetlana Sukhorukova by agreement of the parties.
As reported, the National Bank of Ukraine on April 1, 2024 granted permission to JSC Insurance Company Opeca to exit the market by executing the insurance portfolio and agreed on the exit plan.
According to the statements presented by IC “Opeca” for 2023, the insurance portfolio of the company was formed at the expense of payments on health insurance (continuous health insurance) – 65%, accident insurance – 13%, insurance of land transport (except railway) – 10%.
The volume of insurance premiums of the company in the specified period amounted to UAH 9,871 mln, formed insurance reserves – UAH 1,194 mln. For 2023 the insurer has paid out insurance indemnities in the amount of UAH 4,554 mln. The share of the company on insurance premiums in the insurance market makes 0,02%.
IC “Opeca” has been working in the insurance market since 2003. It specializes on risk insurance.
French President Emmanuel Macron announced the dissolution of the National Assembly and the scheduling of early parliamentary elections for June 30 and July 7, French newspaper Le Figaro reported.
“I have decided to give you back the choice of your parliamentary future. It is a serious and weighty decision, but above all, it is an act of trust,” Macron said in a video message posted on social network X.
The first round of elections will be held on June 30, with the second round on July 7.
Macron’s list was defeated in the European Parliament elections, taking half as many as the right-wing National Union.
According to Macron, this result “is not a good result for parties defending Europe.” He added that the far-right was gaining popularity everywhere on the continent.
“I cannot act as if nothing has happened….. That is why, having carried out the consultations required by Article 12 of our Constitution, I have decided to once again give you the choice of our parliamentary future by voting. In a few minutes, I will sign a decree calling parliamentary elections to be held on June 30, the first round, and July 7, the second round,” the French leader said.
