In January-September 2024, Express Insurance (Kyiv) made payments of UAH 377.4 million, which is 62%, or UAH 144.5 million, more than in the same period of 2023, according to the insurer’s website.
In particular, payments for hull insurance amounted to UAH 317.2 million (+56.1%), for MTPL – UAH 49.7 million (2.3 times more), for voluntary health insurance – UAH 4.5 million (-11.1%), payments under other insurance contracts – UAH 10.5 million (+19.4%).
The company’s insurance premiums for this period amounted to UAH 679.6 million, which is UAH 168.4 million, or 33% higher than the same indicator for 9M2023. 2023. In particular, motor hull insurance premiums increased by UAH 91.6 million (+20.6%) to UAH 535.6 million, MTPL premiums – by UAH 70.9 million (+130.5%) to UAH 125.2 million, and other insurance premiums – by UAH 8.8 million (+87.8%) to UAH 18.8 million.
The total level of payments to customers in January-September 2024 amounted to 55.5% compared to 45.6% for the same period last year.
Express Insurance ALC was founded in 2008 and is part of the UkrAVTO group of companies. The company specializes in motor insurance. The consistently high speed of claims settlement in the IC is ensured by optimal interaction with partner service stations.
Since April 2012, Express Insurance has been an associate member of the Motor Transport Insurance Bureau of Ukraine.
In Ukraine, in January-September 2024, due to the turnover and use of agricultural land, community budgets received more than UAH 23 billion in taxes, which is 15% more than in the same period in 2023, according to a study by the Kyiv School of Economics (KSE) commissioned by the USAID program.
According to the study, in July 2024, agricultural land contributed UAH 3.5 billion to community budgets, which is 13% more than last year. This made it possible to partially compensate for the decline in other tax revenues caused by the redirection of personal income tax paid by the military to the state budget – approximately 16% of the UAH 2.5 billion shortfall in July.
In addition, the share of revenues related to agricultural land in the total tax revenues of communities this year increased from 11% to 14%. In July this year, communities had an average of UAH 90 of budget revenues per hectare. Dnipropetrovs’k region remains the leader in terms of budget revenues from the turnover and use of agricultural land – UAH 261 per hectare in July.
“The key factor in the growth of community revenues from the turnover and use of agricultural land was the increase in payments for the lease of communal agricultural land (+11%) and the revival of revenues from land tax (+12%). Communities’ finances were also positively affected by the increase in revenues from the minimum tax liability (MTL). In July 2024, the payment of the minimum tax obligation amounted to UAH 116 million, which is the largest monthly tax revenue since the beginning of the year,” the KSE said.
In January-October of this year, Ukrainian steelmakers increased their revenues from ferrous metal exports by 18.2% year-on-year to $2 billion 665.40 million.
According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 7.7% of total export revenues during this period, compared to 7.6% in January-October 2023.
In October, revenues from exports of ferrous metals amounted to $265.72 million, while in the previous month – $332.83 million.
At the same time, Ukraine increased imports of similar products by 13.5% to $1 billion 251.91 million over ten months of this year. In October, the country imported products worth $129.45 million.
In addition, in January-October 2024, Ukraine increased exports of metal products by 5.7% to $799.01 million. In October, they were exported for $77.33 million.
Imports of metal products increased by 22.4% to $885.01 million during this period. In October, these products were imported for $98.53 million.
As reported earlier, in 2023, Ukraine’s steelmaking companies reduced revenues from exports of ferrous metals by 41.6% compared to 2022, to $2 billion 647.72 million, while ferrous metals accounted for 7.3% of total revenues from exports of goods during this period, while in 2022 the share was 10.3%. In addition, in 2023, Ukraine increased imports of similar products by 37% to $1 billion 307.05 million.
In addition, last year, Ukraine reduced exports of metal products by 16.6% year-on-year to $877.92 million. At the same time, imports of metal products increased by 40.3% to $902.57 million during this period.
Forecast of power system capacity deficit, %
Open4Business.com.ua
The State Property Fund of Ukraine (SPFU) has sold the Bilhorod-Dnistrovskyi seaport for UAH 108 million including VAT (approximately USD 2.6 million) at an English auction on the Prozorro platform.
“The State Property Fund’s team held four online privatization auctions in the Prozorro.Sale system, including the Belgorod-Dniester Sea Commercial Port,” the SPF press service reported on its website on Friday.
The auction was held at the 13th attempt, the statement said.
“The initial price of the asset was UAH 88.9 million, and the final price was UAH 90 million. The winner of the auction will additionally have to pay UAH 18 million in VAT, so the total economic effect may amount to UAH 108 million,” the SPF said, adding that the buyer will also pay off the company’s debt, which is included in the list of privatization conditions.
According to the company, as of June 30, 2024, its overdue wage arrears reached UAH 15.16 million, and overdue accounts payable amounted to UAH 151.31 million.
The auction in Prozorro was announced on October 30 and was conducted in the form of a three-round English auction (for price increase – IF-U). The highest (closed) bidder had the right to make the last move in each round. On November 7, the auction closed.
The winner of the auction was TOP OFFER LLC, which offered UAH 108 million including VAT for the lot and paid a guarantee fee of UAH 17.97 million. Open sources indicate that the ultimate beneficiary of TOP-OFFER LLC is Yevhen Bohuslavskyi, who, according to Opendatabot, is also the founder of TESTUDO Group LLC and FC INKAM LLC. He was also a director of such companies as Factoring Company Paritet LLC and NRC-Ukraine LLC. It is also reported that his activities also include charitable initiatives through the International Charitable Foundation “European Future”.
Since the beginning of the full-scale invasion, the SPF has made several attempts to sell the Bilhorod-Dnistrovskyi ICC. Initially, the port was put up for sale on March 3 for UAH 187.57 million, but then its starting price was reduced to UAH 93.78 million, and the auction was won by businessman Vitaliy Kropachev’s Ukrdoninvest LLC, but the company refused to buy at the stage of agreeing on the terms of the sale agreement. Subsequent attempts to sell it in June, with a price reduction to UAH 92.46 million, were unsuccessful due to the lack of bids.
Biosphere Corporation, one of the market leaders in the production and distribution of household goods, has approximately doubled its European business in 2024, sets the same goal for the next year and aims to create a “billion-dollar company”, the corporation’s founder and CEO Andriy Zdesenko said at the 10th Kyiv International Economic Forum.
“And we are growing. This year we will grow twice as much. And next year our ambition is to grow two more times,” he said at the forum’s closing session on Thursday evening.
Zdesenko noted that Biosphere currently operates in 27 markets already, and the most serious step to enter international markets was made after the start of full-scale Russian aggression.
“We acquired the Austrian company Alufix with the brand, c 4 branches and their production in Romania. Just when we had a 30% drop in turnover (in Ukraine), because our audience left, and now another (dropped) by 10%, because the constant increase in prices, unfortunately, people are getting poorer (…) the average check is falling,” – added the head of ‘Biosphere’.
According to him, thanks to the program of global development, expansion in Europe and in Asia, the corporation managed to continue to grow. He pointed out that Biosphere’s brands “Freken Bok”, Smile are leaders in Kazakhstan and Kyrgyzstan, the company has a very strong presence in Armenia, Georgia, Azerbaijan.
“Next year we plan to open production in Uzbekistan, because there is a 100-million-strong cluster there,” Zdesenko said.
He also noted that Biosphere has established an international advisory board that meets in Vienna and whose members include three Americans and two Europeans.
“These are world-class people who help us build a strategy for world expansion. Because we have a goal to create a billion-dollar company (…) There are such ambitions, and we are creating Biosphere 2.0,” Zdesenko emphasized.
According to him, the corporation has dozens of global competitors, working without restrictions, which are now present in Ukraine.
“And the main challenge for Biosphere is how to be at the same pace, to win with ideas, intelligence, design, wow products, innovation, with the same sophisticated equipment, and where to take all the millions of investments needed for this,” – added the founder and CEO.
He pointed out that along with this competition, the company is additionally spending resources to provide electricity, notably installing a 1.5 MW gas generator last week, helping the army and the community.
Among the challenges in operating in the European market, Zdesenko cited differences in corporate cultures, logistical challenges and financing challenges, as the parent company of National Bank Acts is limited in financing from Ukraine for its international subsidiaries.
“We want to do expansion, we want to produce for Europe, but we can’t finance: marketing, advertising, people, capex, support, growth…,” he stated.
Biosphere Corporation has been working in Ukraine for more than 25 years. Its product portfolio includes more than 1 thousand items under 16 own trademarks (“Freken BOK”, “Fainiy Bonus”, Vortex, Lykit, Smile, Smile Baby, Superfresh, Bambik, Novita, Lady Cotton, Alufix, PRO service, GoWipes, “Chista Peremoga”, Pany Blisk and PoketMon). The corporation is an official distributor of such international brands as TORK, Selpak and Fantom.
The corporation’s capacities in Ukraine are represented by three plants with a total production area of 35 thousand square meters in Dnepropetrovsk, Kiev and Khmelnitsky regions, as well as logistics complexes with an area of 30 thousand square meters. m. Together with the French Groupe Lemoine, Biosphere also owns a cotton products plant in Estonia with an area of 8.5 thousand square meters.
At the end of 2023, a new FOOD direction was opened with its own production Cupsoul, represented by such tea brands as Graff, Ritz Barton and others.
