In January-September 2022 ALC “Insurance company ViDi-Insurance” (Kyiv) collected gross insurance premiums to the amount of UAH 156,5 mln, which is 33,23% less than during the same period last year, as RA “Standard-Rating” reports in the article about updating company’s credit rating/rating of financial stability (reliability) of the insurer on the national scale at the level “uaAА”.
It is noted that the receipts from individuals of IC has decreased on 33,03%, amounting to UAH 136,830 mln, and there have been no receipts from reinsurers in the reviewed period. Thus, individuals continue to prevail in the client portfolio of the insurer, as indicated by their high proportion in gross premiums, which has amounted to 87,46%.
The insurance payments, sent to reinsurers, have decreased by 39,1%, down to UAH 2,090 mln in comparison with the same period of 2021 for nine months of 2022. Thus, the ratio of reinsurers’ participation in insurance premiums has decreased to 1,34%.
Net premiums have decreased by 33,14%, to UAH 154,360 mln, and earned premiums – by 9,69%, to UAH 189,416 mln.
The indemnities paid out by the insurer in January-September of 2022, compared to the same period of 2021, has decreased by 16,39%, up to UAH 77,889 mln. As a result of the high rates of gross premiums decrease, the level of payments has grown by 10,03 p.p., up to 49,79%.
Operating profit increased 2.45 times, up to UAH 49.44 mln, and net profit 2.75 times, up to UAH 43.109 mln.
As of September 30, 2022, the assets of the company grew by 5.04%, to UAH 230.559 mln, shareholders’ equity increased by 64.93%, to UAH 109.509 mln. Liabilities reduced by 20,94%, to UAH 121,05 m, cash and cash equivalents reduced by 75,75%, to UAH 24,885 m. It should be also noted that as of September 30, 2022 the Bank’s equity capital grew by 5,93%, to UAH 230,559 m. Liabilities of the company fulfilled the same amount.
RA also notes that as of the reporting date IC ViD Insurance formed a portfolio of investments in government bonds in the amount of UAH 30,455 mln, and a portfolio of deposits in banks with high credit rating in the amount of UAH 89,299 mln.
IC ViDi-Insurance works in the insurance market since 2007, the main specialization – motor insurance.
Ukraine has already received 700 generators from donors and another 900 will be delivered soon, Prime Minister Denys Shmygal said.
“We are preparing for any scenario. We are stockpiling equipment for emergency power generation,” he said at a government meeting Friday.
The prime minister said a coordination meeting was held Nov. 3 with UN agencies and USAID. “We talked about preparations for winter. We have already received 700 generators from donors. Another 900 will be delivered from them in the near future,” the prime minister said.
Krivoy Rog iron-ore combine (KZHRK) in January-October of this year reduced the production of marketable iron ore underground mining by 26.8% compared to the same period last year – up to 2.654 million tons.
According to the company, in October, mines “Pokrovskaya”, “Krivoy Rog”, “Kozatskaya” produced 40 thousand tons each, “Ternovskaya” – 30 thousand tons.
The total output of the Company last month amounted to 150 thous. tons, while in September it was 200 thous. tons, in August – 270 thous. tons, in July – 280 thous. tons.
As reported, KZHRK in 2021 increased the production of iron ore from underground mining by 12.7% compared to 2020 – up to 4.298 million tons.
KZHRK specializes in underground mining of iron ore. KZHRK has four mines: “Pokrovska” (formerly “October”), mine “Krivorizka” (“Rodina”), “Kozatska” (formerly “Gvardeyskaya”) and “Ternovskaya” (formerly the Ordzhonikidze mine, then named after Lenin).
Starmill Limited owns 99.88% of the company.
KZHRK is owned by Metinvest Group and Privat Group. The company’s operational management is carried out by Privat Group.
The Cabinet of Ministers of Ukraine has allocated 33.3 million UAH to finance the micro grants program “Own Business”.
“Owing to the funds allocated today, about 150 people will receive micro grants to start or expand their own business. Hundreds of new working places will be created. This is very important for the recovery and development of the economy and for overcoming the problem of unemployment in the country”, – the government press service quotes the first vice prime minister – Minister of Economy Yulia Sviridenko.
It is noted that as of November 4, 14.6 thousand grant applications on four grant programs of the project “eRabota. There have already been 2 131 positive decisions totaling 1.8 billion UAH. In particular, 1 911 positive decisions were made under the program “Own Business”; 167 – under the program “Recycling”; 53 – under the programs “Garden/Greenhouse”.
“Because of the war, many Ukrainians forgot to bring with them or lost these documents after enemy shelling. That is why it is important to digitalize education documents. This way they will always be with you in your smartphone,” the agency said in the “Telegram channel”.
According to the message, in the app will be available documents of basic secondary education, complete general secondary education, vocational (vocational-technical) education, vocational higher education and higher education (scientific degree).
“The government has already supported the relevant decree. Our team together with the Ministry of education and the State tax service begins to work on the development,” – wrote the Deputy Prime Minister – Minister of digital transformation of Ukraine Mikhail Fedorov in his “Telegram channel”.
Yuzhny Mining and Processing Integrated Works (YuGOC, Dnipropetrovsk Region) will resume production on November 7 after a slowdown since July 1 this year.
According to the official information of the plant, the operational business plan for the current month will be 173 thousand tons of iron ore concentrate. Commodity products will be sent to steelmakers Kametstal and Zaporizhstal.
At the same time, it is specified that the planned production volume is distributed between the two ore-dressing plants (ROF) of the plant, which will work around the clock. A total of four processing sections will start operating.
The production process also begins in the open pit of Yugokhta, where 398 thousand tons of yellow ore will be extracted and sent for processing. Transportation of raw materials will be performed by railway transport.
Production also starts with a reduced load in the department of railway transport, crushing and transporting complex, slurry systems shop. Personnel of subdivisions will come out of downtime partially, depending on the need. Auxiliary shops will also be operating.
According to the press release, the November 2022 production plan is 13.4% lower than the same period last year. The reason for the decrease in volumes is a number of objective factors. First and foremost, it is the impossibility of shipping commercial goods by sea from Odessa ports. Electricity shortage, which emerged since early October, has also contributed to production decrease.
As previously reported, since July 1, 2022 Yuzhnoye Mining and Processing Plant has been on forced downtime. The stoppage of production was caused by Russia’s military aggression in Ukraine. In particular, due to the blockage of Odessa sea ports, YGOK lost the ability to send commodity products to consumers in Asia and North Africa.
As reported, in 2021, Yuzhny GOK increased the production of iron ore concentrate by 6.1% compared to 2020 – up to 13 million 581.8 thousand tons.
Yuzhny GOK is one of the main producers of iron ore raw materials – concentrate in Ukraine. It is engaged in mining and enrichment of poor ferruginous quartzite to produce iron ore concentrate.
The raw material base of the plant are quartzites from the Skolevatskoe deposit, located in the central part of the Krivoy Rog iron-ore basin.
YGOK at the beginning of the war was controlled by Metinvest Group and Lanebrook Ltd. (formerly the majority shareholder of Evraz Group, withdrew from the group in 2018), which acquired a 50% stake in YGOK from Privat Group (Dnipro) in late 2007.
