Business news from Ukraine

State Enterprise Naftogaz-Energoservice holds tender for VHI services

Naftogaz-Energoservice is holding a tender for the purchase of voluntary medical insurance (VMI) services. According to the announcement in the electronic state procurement system Prozorro, the expected cost of purchasing the services is UAH 593.645 thousand.

Documents are accepted until August 22

The winner of a similar tender a year earlier was IC Salamandra

 

 

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IC “Express Insurance” increased payments by 32.2%

In January-July 2024, Express Insurance (Kyiv) collected insurance premiums in the amount of UAH 504.7 million, which is 32.2% more than in the same period of 2023.
According to the insurer’s website, the number of contracts concluded during this period was 2.2 times higher.
Premiums for hull insurance amounted to UAH 395 million (+18.4% compared to 7 months of 2013), for MTPL – UAH 94.6 million (2.5 times more), for VHI – UAH 7.1 million (+9.7%), for other types of insurance – UAH 8 million (96.3%).
In July 2024, the company attracted UAH 79.1 million in premiums, which is 28.3% more than in July last year. In particular, motor hull insurance premiums amounted to UAH 59.5 million (+16.4%), and motor TPL premiums – UAH 17.5 million (2.1 times).
As reported, in January-July 2024, Express Insurance paid UAH 287.1 million in claims, which is 60.1% higher than in 2023. In particular, payments under motor hull insurance amounted to UAH 242.2 million, or 53.9%, under MTPL – UAH 37.6 million (+143.1%), under voluntary health insurance – UAH 3.4 million (-9.4%), payments under other insurance contracts – UAH 4 million (+40.7%).
In July 2024, the company paid out UAH 43.8 million to customers, which is 47% more than in July 2023. In particular, UAH 36 million (+35%) was paid out under motor hull insurance contracts, and UAH 6 million (+175.2%) under MTPL insurance contracts.
Express Insurance ALC was founded in 2008. It is part of the UkrAuto group of companies. The company specializes in motor insurance. Since April 2012, it has been an associate member of the Motor Transport Insurance Bureau of Ukraine.

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TAS Insurance Group increased payments by 57.5%

In January-July 2024, TAS Insurance Group (Kyiv) paid UAH 1.103 billion under the concluded insurance contracts, which is 57.5% more than the amount of the company’s indemnities for the seven months of the previous year.
More than a quarter of the total volume of payments, or 27.3%, accounted for hull insurance – UAH 300.8 million, which is 39.6% higher than the corresponding figure for 7 months. In 2023, 32.9%, or UAH 364.3 million, was accounted for by MTPL (+34.6%), 22.2%, or UAH 244.6 million, by Green Card (+2.08 times).
The share of VHI in the company’s claims portfolio amounted to 14.29%, or UAH 157.6 million (+2.1 times) over the seven months.
TAS Insurance Company paid out UAH 6.5 million (+38.8%) under property insurance contracts in the reporting period.
Under other insurance contracts, the company paid UAH 30.28 million (+75.2%).
TAS was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.

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“Nova Poshta” has issued bonds for one bln hryvnias

Nova Poshta LLC, the largest logistics operator in Ukraine and a member of the NOVA group, has fully placed its issue of interest-bearing unsecured F series bonds with a total nominal value of one billion UAH.
According to the National Securities and Stock Market Commission (NSSMC), the company registered the report on the results of the issue on August 14, while the issue was initially registered on April 26 this year.
According to the report for the first half of 2024, the bonds will mature on June 10, 2026, bear interest at 16% per annum, mature on June 5, 2026, and have a nominal value of UAH one thousand.
Nova Poshta registered a report on the placement of the previous series E issue of the same volume with maturity on August 8, 2025 and an interest rate of 17% per annum with the NSSMC on July 4 this year. Most of it, worth UAH 650 million, was purchased in May by Oschadbank (Kyiv). It was clarified that this is the third transaction since 2019 for the state-owned bank to finance Nova Poshta by purchasing corporate bonds.
Both series of bonds were placed without a public offering on the over-the-counter market.
As of the middle of this year, Nova Poshta’s liabilities on the E series bonds amounted to UAH 995.16 million, F series – UAH 994.88 million, and on the previously issued D series bonds maturing at the end of January 2025 – UAH 818.51 million.
As of the end of June this year, Nova Poshta’s total liabilities on bonds amounted to UAH 2 billion 808.55 million, while its liabilities to banks amounted to UAH 3 billion 136.12 million, and the total amount of liabilities and collateral amounted to UAH 15 billion 562.04 billion.
As reported, in 2023, Nova Poshta made two bond issues – “C” and “D” – each with a nominal amount of UAH 800 million. The C series bonds were issued for a 12-month term with a 24% p.a. rate, while the D series bonds were issued for 20 months with a 23% p.a. rate.
Earlier, in February 2023, the company redeemed the UAH 700 million Series B bonds issued in March 2020.
In the first half of 2024, Nova Poshta LLC increased its unconsolidated net income by 20.1% to UAH 20.12 billion, but the company’s net profit decreased by 38.1% to UAH 1.49 billion.

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IC “PZU Ukraine” increased incoming payments by 43.4%

From January to June 2024, PZU Ukraine Insurance Company (Kyiv) collected UAH 1.067 billion in insurance premiums, which is UAH 323 million or 43.4% more than in the first half of 2023.
According to the insurer, the largest increase in payments in the reporting period was recorded in the MTPL (+67%), VHI (+53%), green card (+46%) and comprehensive insurance (+21%) segments.
In the first half of the year, UAH 194 million in premiums were collected under comprehensive insurance contracts, accounting for 18% of the insurer’s total payments, UAH 259 million (24%) under the Green Card and UAH 304 million (28%) under the MTPL.
In turn, the VHI share of the company’s portfolio amounted to 15%, with UAH 165 million in premiums collected for VHI policies.
In the first half of 2024, the volume of income from other insurance contracts of IC “PZU Ukraine” amounted to UAH 145 million.
PZU Ukraine is part of one of the largest insurance groups in Central and Eastern Europe – the PZU Group (which also includes the parent company of PZU Ukraine – PZU S.A.).

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