IC “Brokbusiness” (Kyiv) collected UAH 258.9 mln of gross premiums in 2022, which is 1.76% less than during the same period a year earlier, Expert-Rating said in its information about confirmation of insurer financial strength rating at the level uaAA+ on national scale.
According to the agency, the part of insurance premiums, which belongs to reinsurers, for the mentioned mentioned period decreased by 37,47%, and their share in the structure of gross premiums of the company decreased by 1,98 p.p. and made 3,46%.
The company carried out 63,967 mln UAH of insurance payments and indemnities in 2022, which is 29,42% less than in 2021, while the level of payments has reduced by 9,69 p.p. and has amounted to 24,71% following the results of 2022.
In 2022 the shareholders’ equity of the company has grown by 74.32% up to UAH 164,53 million, and its gross liabilities have reduced by 1,69% down to UAH 155,54 million. The Agency notes that an essential growth of the insurer’s shareholders’ equity in the analyzed period has occurred due to the increase in retained profit (by UAH 64,1 mln) in its structure, which has become possible due to the profitable activity of the company in 2022. In this regard, there was an increase in the level of shareholders’ equity coverage of the insurer’s liabilities on 46,12 p.p. – to 105,78 %. Consequently, at the beginning of 2023 shareholders’ equity exceeded the volume of the company’s liabilities by 5,78%.
The volume of cash and cash equivalents as of December, 31st, 2022 has grown in 1,55 times and has amounted to UAH 167,73 mln that has resulted in the increase of the level of liabilities coverage by cash means: by 39,33 p.p. up to – up to 107,84 %.
In the analyzed period the activity of PrJSC IC “Brokbusiness” has been characterized by a high efficiency. In particular, according to the results of 2022 the operating profit of the insurer has grown up to UAH 70,37 mln, and its net profit has increased up to UAH 66,98 mln, while following the results of 2021 the company has received net and operating losses.
IC Brokbusiness works in the Ukrainian insurance market for more than 25 years and is presented in all regions of Ukraine. The insurer has 39 licenses for voluntary and obligatory types of insurance.
Source: Open4Business.com.ua and experts.news
Uzbekistan and Kazakhstan have set up a joint foreign trade company to increase bilateral trade and enter the markets of third countries.
The founders of the export-import enterprise were the QazTrade Trade Policy Development Center and the UzTrade company.
The foreign trade company will focus on conducting market research and competitive analysis of products of large enterprises of the two countries, developing proposals for placing orders for the production of finished goods, optimizing and coordinating mutual trade processes, assisting businesses in certification and promotion of goods for export.
“At the initial stage, we plan to purchase fruit and vegetable products from Uzbekistan to meet the needs of our domestic market. In addition, we will help sell Kazakh flour products in Uzbekistan with the possibility of further export to Afghanistan. We have agreed with the Uzbek side to provide preferences for logistics costs,” said Nuraly Bukeykhanov, Head of the Trade Policy Development Center.
In 2022, trade between Kazakhstan and Uzbekistan reached $5 billion, up 29.8% year-on-year ($3.8 billion).
The volume of exports of Kazakhstani goods increased by 33% to $3.7 billion. The growth in exports was mainly due to an increase in supplies of ore and copper concentrate (up 4.8 times), wheat (up 32.3%), cars (up 83.7%), sunflower oil (up 97.2 times), fresh and chilled beef (up 4.1 times), and raw aluminum (up 70.4%).
In 2022, imports to Kazakhstan from Uzbekistan increased by 21.4% to $ 1.3 billion. Kazakhstan mainly buys car bodies, spark-ignition internal combustion engines, grapes, flat-rolled unalloyed steel, lead ores and concentrates, building bricks, floor blocks and similar ceramic products, parts and accessories for cars and tractors, and ethylene polymers.
Source.
UN Secretary-General António Guterres is on his way to Ukraine on an official visit to discuss the Istanbul “grain” deal, the UN press service said.
“The secretary general has just arrived in Poland on his way to Ukraine. On Wednesday morning he will meet with President Volodymyr Zelenski in Kiev to discuss the continuation of the Black Sea Grain Initiative in all its aspects, as well as other topical issues,” the report states.
It is noted that this is the third visit of the Secretary General to Ukraine in the last year.
As reported, the “grain” deal was concluded in Istanbul on July 22, 2022. With the participation of the UN, Russia, Turkey and Ukraine signed two documents, one on creating a corridor for the export of grain from three Ukrainian ports (Chornomorsk, Odessa and Pivdenniy), and the other on removing barriers to the export of Russian food and fertilizers.
The deal is set to expire on March 18. The UN Secretary General previously expressed hope that it would be extended.
More than 70% of construction sites in Kiev, Lviv and Odessa continue to work, prices for the year increased in the capital by 36.1%, in Odessa by 48.4%, in Lviv by 82.7%, said the founder of M4U Vladimir Danilenko to the agency “Interfax-Ukraine”.
“During the year of war in Ukraine, real estate markets in most major cities continued to grow. The cost per square meter rose during the year in line with rising production costs, the devaluation of the hryvnia and the distance from the front line. In October 2022 the tendency has changed: the prices in Lviv continue to grow, in Kiev and Odessa have stabilized”, – said Danylenko.
According to M4U, the number of active construction in the capital today is 83.7% of the beginning of February 2022 – 185 of 221 housing estates.
At the beginning of February 2023 the average price per square meter in new buildings in Kiev was 61 thousand 234 UAH. This is 36.1% higher than it was before the Russian invasion of Ukraine, but 1.2% lower than in January. Prices were rising most actively in the summer, when most sales departments resumed their work and when the official dollar exchange rate went up. From June to September the average cost per square meter increased by 26.7%.
“Today the pace of construction work is much lower than before the war, so it does not make sense and possible for developers to often recalculate the cost of construction. Market factors for price increases are also absent,” Danilenko explains.
According to the study of M4U, the largest increase in the cost per square meter was noted in the segments of elite (+46.1%) and economy (+44.3%). The price increase in popular among buyers classes of comfort and business was 35.5% and 34.4%, respectively.
At the beginning of February 2023 the majority of real estate offers are concentrated in the price range from 34 to 54 thousand UAH/sq. m, comfort class objects prevail among them.
Traditionally the biggest number of actively built and sold new buildings, as well as apartment offers, is in Holosiivskyi district of Kiev. More than a half of them (16 out of 29 Residential Complexes) are the objects of comfort class. The second largest volume of construction is in Pechersk district, where 15 out of 26 housing estates are positioned in business class, the rest – the elite. In Shevchenkivskyi district of Kiev 24 residential complexes are under construction, most of which belong to business class. Fewer new homes are being built in Obolonskyi (11 LC) and Desnianskyi (10 LC) districts. At the same time the supply of new apartments in Desniansky district is twice as much as in Obolonsky, there is more housing in the economy class housing.
In the Kiev region at the beginning of February 2023, 204 out of 263 construction sites resumed their work a year ago (77.5%). A square meter in the suburbs of the capital on average has risen by 34.1%, to 31 844 UAH. As in the capital, the most active price increase occurred in summer, from October to February prices remained practically unchanged.
In contrast to the capital, the prices for new buildings of the comfort class rose more substantially – by 33%, to 29,992 UAH. Apartments in new buildings of economy and business classes rose in price by 30% and 30.1%, respectively. The price increase in objects, positioned in the elite class, was 28%.
Most proposals of the capital region belong to comfort and business classes, price range is 26-32 thousand UAH.
Most of the objects are built and sold in Irpen (41 LC), Sofievskaya Borschagivka (17 LC), Brovary, Gostomel (13 LC) and Bucha (12 LC). By volume of apartments for sale are leaders in Sofievskaya Borschagivka and Brovary, a few less proposals in Kryukivschyna, Irpen, Bucha.
In Lviv and the Lviv region the number of new buildings in active construction and sales is now the same as it was before the Russian invasion – 218, during the year this figure has changed slightly.
The average price per square meter for the year increased by 82.7%, to 45 706 UAH.
The majority of objects in Lviv are in the price range from 24 to 34 thousand UAH, in the structure of supply the comfort class dominates.
Thus, according to the study of M4U, the greatest price dynamics is observed in the business class, where the cost per square meter for the year increased more than twice, by 109%. In the economy segment, prices rose by 66.7%, comfort by 60.3%, and elite by 58.7%.
The largest amount of apartments in new buildings are in Shevchenkivskyi (35 LCD) and Sikhivskyi (32 LCD) areas.
In Odessa and the region a square meter in new buildings during the year of war increased by an average of 48.4%. Here are active 131 out of 180 construction sites before the war (72.8%).
Prices, like in other regions, were rising during the summer, in October the growth stopped, and in December there is even a decrease in prices, an average of 2.3% for two months.
Over the year a square meter more expensive in the segments of economy and elite – 59% and 57%, respectively. The average price increase in new buildings in the comfort class was 46.1%.
“The most interesting dynamics is in the business class: during the year the cost per square meter increased by an average of 39.5%, but it is in this class we observe the largest price decrease during September 2022 – February 2023, which was 5.1%,” – said Danylenko.
The majority of proposals in Odessa new buildings are in comfort and business segments in the price range of 24-38 thousand UAH.
The leader by the number of new buildings is Primorsky district, where now the apartments are sold in 30 residential complexes, of which 16 are positioned in the elite class. In Kievsky district 25 Residential Complexes are under active construction, 12 of which belong to comfort class.
Founded in February 2020, Ukrainian proptech company M4U specializes in the development and implementation of complex intelligent solutions in real estate development.
People’s deputies propose to the Verkhovna Rada to abolish the state registration of used cars by the trading organization in itself, said the head of the parliamentary committee on finance, tax and customs policy Daniel Getmantsev
“Together with colleagues introduced the bill N9083, which provides for the deregulation and detenalization of the market of trade in used vehicles,” he wrote in the Telegram-channel on Monday.
According to the VR website, the bill on amendments to some laws of Ukraine on improvement of wholesale and retail trade in vehicles by business entities, which are registered in the Main service center of the Ministry of Internal Affairs, was introduced in the parliament by a group of MPs on March 6.
Among the co-authors of the bill, in particular, MPs Yaroslav Zheleznyak (faction “Voice”), Maryana Bezuglaya, Eugene Bragar (“Servant of the people”), Dmitry Razumkov (unaffiliated).
“The abolition of senseless state registration of used cars by a trading organization in its own name, even if it buys them as goods for further resale, will be a pledge to withdraw from the shadow market, expand the activity of white car traders and eliminate schemes because of which the budget is underpaid taxes,” Hetmantsev wrote.
