The shareholders of Forte Life Insurance Company (Kyiv) have decided to increase its authorized capital by UAH 7 million to UAH 24 million.
According to the company’s announcement in the NSSMC’s information disclosure system, the nominal value of one share is UAH 1 thousand, the placement price is UAH 4,541 thousand. The method of securities placement is without a public offer. It is noted that the placement of shares may lead to a change in the owner of a large stake (99.80% of the authorized capital), which at the time of the decision was Oksana Kuleshina.
As reported, Forte Life Insurance Company (formerly Insurance Union Life), registered in 2005, specializes in providing life insurance services.
In February 2021, the company announced that Astrum Ukraine LLC, which owns 99% of the shares of Forte Life Insurance Company (Kyiv), reduced its stake to 0%, and Oksana Kuleshina became the owner of this stake.
Eurohold Bulgaria AD (Eurohold) and Euroins Insurance Group AD (EIG) have officially filed an arbitration claim against the Romanian government with the International Center for Settlement of Investment Disputes (ICSID) in Washington, DC, for more than EUR 500 million, according to the EIG website.
According to the report, the arbitration proceedings were initiated due to the Romanian state’s failure to comply with its obligations under the bilateral investment treaty between Bulgaria and Romania, including its obligation to ensure fair and equitable treatment for companies. EIG has been one of the largest investors in the Romanian insurance market, with investments of approximately EUR 280 million.
Eurohold and EIG are seeking damages for the actions of the Romanian authorities, which have damaged EIG’s business in Romania and completely destroyed it in the case of Euroins Romania, the statement said.
As reported, on March 17, 2023, the Romanian financial authority ASF revoked the license of Euroins Romania, which led to the bankruptcy of the insurer in June 2023.
October 25, 2023. Eurohold and EIG sent a notice of dispute to the Romanian government requesting an amicable settlement in the Euroins Romania case, but the Romanian government did not use this option.
Eurohold and EIG are being advised in the arbitration proceedings by Pinsent Masons, a leading multinational law firm, and by Gingov, Guginski, Ketchukov and Velichkov (DGKV), one of the largest and most prominent law firms in Bulgaria.
Euroins Insurance Group (EIG) is one of the largest independent insurance groups operating in Central, Eastern and South-Eastern Europe, represented in Ukraine by Euroins Ukraine.
Port changes in % to previous period in 2023-2024
Source: Open4Business.com.ua and experts.news
ADONIS Medical Group has launched corporate rehabilitation programs for demobilized employees of companies.
According to the medical group’s press release, ADONIS rehabilitation programs include a wide range of services to restore the physical, psychological and social status of patients.
Specifically, the program includes preparation for prosthetics and rehabilitation after prosthetic fitting, rehabilitation after gunshot wounds, shrapnel fractures of bones, burn injuries, including skin repair, and restoration of movement amplitude for contractures to maximize mobility after injuries.
“Initiatives like this not only contribute to the physical recovery of military personnel, but also impact their overall well-being and integration into active life. Companies like MHP set an example of civic responsibility and caring for their employees,” the medical group reported.
At the same time, ADONIS noted that it is ready to “cooperate with other corporations that value their employees and want to help them during this important period.”
“The return of servicemen to peaceful life is a difficult journey that requires not only physical recovery, but also psychological and social support. We develop programs taking into account the requests of companies,” ADONIS emphasized.
ADONIS is a network of private medical centers for adults and children. ADONIS private clinic was founded more than 25 years ago. Its network includes seven branches in Kiev and the region, including a rehabilitation center and a stem cell laboratory. Doctors at the clinic’s branches provide treatment in 65 medical fields. Under war conditions, ADONIS branches with surgical units provide quality medical care to military and civilians.
Business disruption is a serious threat to food and beverage companies, according to the Global Food and Beverage Risk Outlook 2024 by global consulting and brokerage firm WTW.
According to its website, nearly half (48%) of food and beverage companies cited business interruption as the biggest internal risk to their success.
This was followed by supply chain risk, cited by 40% of companies. Managing turbulence and potential disruption has become standard practice in the food and beverage sector, aided by global instability, conflict, climate change and the cost of living crisis. As a result, companies are cautious about their future.
More than 41% of food and beverage companies cited improving liquidity as the top strategic goal for the next two years, ensuring they have the financial resources to weather further shocks. Other key priorities include cost reduction, which 38% of companies focus on, and business stabilization (a goal for 35% of companies).
In addition, companies are increasingly questioning their ability to keep up with rapidly changing consumer tastes and preferences: 36% see this as a risk. However, this challenge also represents an area of opportunity, as companies can capitalize on the latest consumer trends.
Despite the challenges, food and beverage companies are actively working to improve resilience. Nearly half (47%) review their business continuity plans every six months and 31% do so quarterly.
However, more than a quarter 29% of these businesses reported that their insurance policies only cover property damage in the event of extreme weather, not including business interruption coverage, which is necessary for recovery and resilience.
The National Bank of Ukraine (NBU) on May 23 announced a tender for voluntary medical insurance of employees with an expected cost of UAH 18.709m for the purchase of the service, according to the Prozorro e-procurement system.
Applications for participation are accepted until 12.00 on May 31.
Tender security 561,275 thousand UAH.
As reported, the winner of a similar tender for VHI announced by “Ukrnafta” on May 25, 2023 with the expected cost of procurement of services of 12.048 million UAH was SG “TAS” with a proposal of 10.819 million UAH, in connection with which July 7 with it was concluded a contract for VHI.
