The French reinsurer SCOR tentatively estimates the volume of compensation as a result of Russia’s military attack on Ukraine at “a high double-digit figure in millions of euros”, while warning that the company could end the first quarter of 2022 with a loss.
As reported on the website of the reinsurer, SCOR became the first of the global reinsurers to publish information about how much the war in Ukraine could cost their business.
It is also noted that the total losses of the industry as a result of this war will be equivalent to a catastrophic event of a medium scale (from EUR15 billion to EUR30 billion). But given that hostilities affect insurance payouts, and given the considerable uncertainty as hostilities continue, it is now very difficult to give an accurate estimate, SCOR said.
By announcing early first quarter results, SCOR definitely wants to give shareholders and the market a picture of what to expect. SCOR’s strategy is to reserve funds “as large as possible as early as possible”.
The company is closely following the course of events in Ukraine, which makes it possible to adequately assess the potential impact of the aggressor’s military actions and international sanctions against Russia on global reinsurance.
SCOR emphasizes that its subsidiary in Russia has suspended the signing of new reinsurance contracts.
The company emphasizes that payments are expected under political risk, credit risk and aviation insurance reinsurance contracts.
The reinsurer noted that these payments will be attached to other payments in the first quarter of 2022, in particular for damage due to natural disasters (including floods in Australia, European snowstorms, drought in Brazil) and the continuation of the Covid-19 pandemic in the United States.
“Such situations will negatively affect the combined ratio for P&C insurance (property insurance), as well as the technical result of life and medical insurance. This is expected to lead to losses for the quarter,” the company notes.
SCOR also stated that the company is well capitalized and has a strong solvency ratio.
Gazprom did not choose the capacity of the Polish section of the Yamal-Europe gas pipeline during the gas transmission capacity booking session for May, according to auction data on the GSA Platform booking platform.
89 million cubic meters were offered at the auction. m per day – all these capacities were not booked.
The Yamal-Europe gas pipeline, over 2,000 km long, can pump up to 33 billion cubic meters. m per year. The Polish 683 km section is owned by the EuRoPol Gaz joint venture and operated by the national gas transmission operator Gaz-System.
Gazprom’s long-term contract for transit through this country ended two years ago. Since then, its capacity has been allocated based on auction bookings.
At present Gazprom does not use the capacities of Yamal-Europe for deliveries to Germany. The pipeline transports Russian gas to Poland. Also, through it, the republic receives small volumes of this energy resource from Germany in reverse.
The gas transmission system operator of Ukraine did not offer additional capacities for the transit of Russian gas. In previous months, a solid capacity of 15 million cubic meters was set. m per day with the entrance through the gas measuring stations (GIS) “Sudzha” and “Sokhranovka”. For several months in a row, Gazprom did not book these capacities at auctions.
The Russian concern has a long-term reservation of Ukrainian capacities in the amount of 40 billion cubic meters. m is 109 million cubic meters. m per day.
A group of people’s deputies, headed by the head of the budget committee of the parliament, Yuri Aristov, proposes to expand the state budget deficit and increase the expenditures of the reserve fund by this amount, bill 7299, registered on the website of the parliament on Tuesday, testifies.
According to the bill, it is proposed to increase state budget expenditures to UAH 1.793 trillion, including UAH 1.572 trillion for the general fund, and the state budget limit deficit to UAH 456.363 billion, including the general fund deficit to UAH 360.259 billion.
The Ukrainian Steel Construction Center is collecting projects and construction concepts for the renewal of Ukraine, the press service of the center has reported.
The corresponding section has been created on the center website. The projects of Rauta, Poltava-Proekt, Metinvest-SMC, Ukrstal Construction and others have already been placed in it.
The center turned to steel construction market participants with a request to share ready-made projects and design solutions for construction with minimum construction time and the use of elements with a maximum degree of prefabrication.
The matter concerns residential projects of prefabricated buildings to accommodate Ukrainian citizens who have lost their homes, as well as complex solutions for capital residential facilities and social infrastructure facilities (hospitals, schools, kindergartens, warehouses, shops).
All the information provided and contacts of the project authors will be posted on the uscc.ua website in the section “Construction projects and concepts for the restoration of Ukraine” https://www.uscc.ua/filterpages/category/proekti-ta-koncepcii-budivnictva-dla-vidnovlenna-ukraini
The Ukrainian Steel Construction Center brings together the largest participants in the national steel construction market. To date, it includes more than 60 specialized companies.
Citizens of Ukraine wishing to cross the state border have been extended the opportunity to do so using their internal passport, the State Border Service reported.
“The possibility of crossing the border by citizens of Ukraine on internal passports has been extended. This decision was made in view of the situation that is developing on the territory of Ukraine during martial law, when citizens of Ukraine cannot quickly and timely issue a passport of a citizen of Ukraine for traveling abroad (foreign passport),” the statement says. message on the agency’s Facebook page on Monday evening.
The State Border Service stressed that this decision applies to all citizens, regardless of the areas from which they are sent.
The department recalled that children under the age of 16 can leave Ukraine if they have a passport of a citizen of Ukraine or a birth certificate of a child (in the absence of a passport of a citizen of Ukraine).
“In some cases, while staying abroad, there may be an urgent need for a passport, which is determined by the legislation of the countries where our regions plan to be, or when traveling between different countries. Therefore, we advise Ukrainian citizens to take into account different situations and, if possible, issue a passport for themselves even before crossing the border,” the statement said.
Losses among civilians from February 24, when Russia started the war against Ukraine, until 24:00 on April 17 amounted to 4890 civilians (in the summary three days earlier – 4577), including 2072 dead (1982), reports the office of the UN High Commissioner for Human Rights person on Monday.
“OHCHR believes that the actual figures are much higher as information is delayed from some areas of heavy fighting and many reports are still awaiting confirmation,” the UN data document notes.
According to him, this applies, for example, to Mariupol (Donetsk region), Izyum (Kharkiv region), Popasna (Luhansk region) and Borodyanka (Kyiv region), where there are reports of numerous civilian casualties. They are subject to further verification and are not included in the above statistics.
“The majority of civilian deaths or injuries were caused by the use of explosive devices with a wide area of effect, including shelling from heavy artillery and multiple launch rocket systems, as well as rocket and air strikes,” the report says.
According to confirmed UN data, 537 men, 327 women, 60 boys and 38 girls died, while the sex of 71 children and 1039 adults has not yet been determined.
Among the 2,818 injured were 56 girls and 61 boys, as well as 155 children whose gender has not yet been determined.
Compared to three days earlier, seven children were killed and 16 others were injured, according to the UN.
OHCHR indicates that in Donetsk and Luhansk regions, as of midnight on April 18, there were 653 (637) dead and 1,059 (1,040) injured in government-controlled territory, and 79 (79) dead and 312 (291) injured in territory controlled by self-proclaimed “republics”.
In other regions of Ukraine under government control (in Kyiv, as well as in Zhytomyr, Zaporozhye, Kiev, Sumy, Odessa, Mykolaiv, Kharkiv, Kherson, Dnipropetrovsk, Cherkasy and Chernihiv regions), the UN recorded 1340 (1266) dead and 1447 (1320) wounded .
The report also states that, according to the Office of the Prosecutor General of Ukraine, as of 8:00 am on April 18, 205 (198) children were killed, 362 (355) were injured.
The report, which was released for the first time after a two-day break, traditionally indicates that the increase in indicators in it should not be attributed to the previous report only for cases that occurred on April 15-17, since during these days OHCHR also verified a number of cases that occurred in previous days.
