Ukrainian producers of carrots continue to confidently increase selling prices for their products, according to analysts of the project EastFruit. Market operators explain the next rise in prices in this segment by the increased demand of wholesale companies and retail chains, which continue to buy these root crops for further realization.
Thus, only since the beginning of the current week carrots have grown in price up to UAH 23-30/kg, ($0.55-0.71/kg), depending on the quality and volume of the offered batches of products, which is on average 15% more expensive than at the end of the last working week.
Producers argue the price growth in this segment for several reasons at once. First of all, the upward price trend is associated with a noticeable reduction in the supply of substandard products, as supplies from unequipped warehouses have fallen to a minimum. At the same time, the demand for carrots remains quite active. It is also worth noting that some large farms are still holding back sales of this root vegetable of high quality in the hope of further price growth.
To date, carrots in Ukraine are already on sale on average 2.6 times more expensive than in the same period last year. At the same time, market operators note that the rise in prices has not contributed to a decrease in demand for carrots, so they do not exclude that next week farmers will make attempts to once again raise prices in this segment.
More detailed information about the development of the market of carrots and other fruit and vegetable products in Ukraine you can get by subscribing to the operative analytical weekly – EastFruit Ukraine Weekly Pro. Detailed product information is available here.
The Cayman Islands (aka Cayman) has captured about 10% of the US offshore life reinsurance market, according to an estimate in US regulatory filings, Gallagher Re reports on its website. It stresses that the Cayman Islands is well known as a major offshore financial center, but is looking to enter new sectors.
Assets linked to international insurance companies in the Cayman Islands have more than doubled from $71.2 billion at the end of the first half of 2023 to $154 billion at the end of the third quarter of 2024, according to the islands’ regulator, the Cayman Islands Monetary Authority (CIMA).
According to Moody’s, Bermuda remains the unchallenged leader, accounting for about 81% of cross-border reinsurance transactions from the US. However, Cayman’s growing importance has caught the eye. Mark Rowan, CEO of private equity group Apollo, which owns the Athene life insurance business, said in November that he wants to add a “caveat word” regarding the islands.
While the jurisdiction may not be as strict as Bermuda, it has its own risk-based solvency calculations that determine capital levels. Some Cayman-based companies have a customized approach to risk-based capital (RBC), while others apply the standard model. When considering any counterparty, it is important to assess how that entity measures and maintains adequate capital, the report stresses.
On December 24, Kyivvodokanal announced a tender for insurance services with a total expected purchase price of UAH 4.246 million, according to the e-procurement system ProZorro.
It is noted that the expected cost of voluntary insurance of motor vehicles (hull insurance) – LOT 1 – UAH 1.718 million, services for compulsory liability insurance of subjects of transportation of dangerous goods in case of negative consequences in the transportation of dangerous goods (LOT-2) – 63.94 UAH, services of voluntary insurance against accidents in transport (LOT-3) – 22.2 th. UAH, services on compulsory insurance of civil liability of owners of land vehicles (LOT-4) – UAH 2,413 mln, services on insurance of liability to third parties while carrying out activities of the appointed body or recognized independent organization (LOT-5) – UAH 4,833 th. UAH, services on compulsory insurance of civil liability of business entities for damage that may be caused by fires and accidents at high-risk facilities, including fire-explosive facilities and facilities, economic activity at which may lead to accidents of environmental and sanitary-epidemiological nature (LOT-6) – UAH 88 th.
The deadline for submission of tender offers is January 2.
The insurance industry is poised for relative stabilization in 2025 after years of disruption, Stonybrook Capital noted in its 2025 P&C forecast, according to the Reinsurance News website.
While some commercial lines may see moderate price declines as capacity and competition normalize, persistent factors such as persistent price increases and social inflation will mitigate these declines, analysts said.
Insurers are advised to balance competitive pricing with underwriting discipline to protect profitability. As for reinsurance, costs are expected to stabilize, providing predictability after periods of volatility, analysts said.
According to the report, analysts at Stonybrook Capital also expect consolidation to accelerate, with mergers and acquisitions creating larger and more diversified players. Private insurance and Insurtech companies are swiftly ready to go public thanks to the growing number of IPOs and strong investor interest.
This surge in IPOs is expected to be driven by private equity investment and industry consolidation due to favorable market conditions.
