The average insurance premium for compulsory motor third party liability insurance (MTPL) in 2023 increased by 16.9% to UAH 1,141 thousand, according to the website of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
It is noted that in 2024, the insurance premium is expected to grow by another 6.7% to UAH 1,217 thousand.
In addition, the MTIBU also forecasts a 7.7% increase in the number of MTPL insurance contracts in 2024 (in 2023, 7.6 million insurance contracts were concluded (+6.77%) compared to 2022). The total amount of insurance premiums amounted to UAH 8,750.4 million, which is 24.87% more than in 2022.
In 2023, insurance companies paid UAH 3.8 billion to victims of road accidents, which is 38.9% more than in 2022, and settled 127,837 thousand claims for insurance compensation (+15.56%). The insured event frequency ratio is 1.67, which is 8.4% more than in 2022, but less than the “pre-war” figure of 1.92 in 2021.
More than 69% of issued insurance policies in 2023 are electronic and only 31% are presented in paper form.
Over the past year, 42,158 thousand claims were settled under the direct claims settlement system (DSS) and UAH 796 million of insurance indemnity was paid. The average time to settle a loss in the DDS system is 32 days, which is almost half as long as in the general settlement system.
The MTIBU Victims’ Protection Fund amounts to UAH 3,320.28 million, accumulated through paid premiums and contributions from insurers of the Bureau’s members.
In 2023, the number of complaints against insurers from victims and policyholders decreased by 54%.
Over the past year, 1.6 million international insurance contracts were concluded, and the total amount of accrued premiums under them amounted to UAH 5.207 billion (+27.3% compared to 2022).
The number of settled claims under international insurance contracts “Green Card” in 2023 amounted to 15.122 thousand, the total amount of compensation amounted to EUR 46.66 million.
The largest number of road accidents caused by Ukrainian drivers occurred in Poland – 31%, Germany – 19%, Romania – 7%, Czech Republic – 7% and Italy – 4%.
The NOVA Group, which includes the largest logistics operator Nova Poshta, invested UAH 5.3 billion in Ukraine in 2023, which is 2.5 times higher than the investment budget for 2022 (UAH 2.1 billion), the group said in a statement on Thursday.
“The level of Nova Poshta’s faith in the future of Ukraine in 2024 is even higher: this year it is planned to increase the amount of investments to UAH 7 billion,” the release said.
According to the release, last year NOVA also increased its tax payments by one and a half times to UAH 10.7 billion. It is specified that, in particular, Nova Poshta paid UAH 8.7 billion in taxes, and NovaPay paid UAH 1.2 billion.
The report indicates that last year, the largest amount of capital investment – UAH 2.4 billion – was directed to the construction of new sorting terminals and automation of those already in operation. It is noted that this allows the company to ensure an uninterrupted delivery process in the face of constant growth in cargo volumes and not lose speed: today the company delivers 1040 parcels every minute, and on peak loading days – 1400.
Another major expense item, according to the release, is the development of the network of branches and post offices for the purpose of walking distance accessibility, in which UAH 1.1 billion was invested. As a result, Nova Poshta’s network in Ukraine already includes more than 27 thousand service points.
Also, the investment budget of UAH 1.2 billion was used to automate workplaces and repair branches to make them convenient and barrier-free for different groups of consumers and employees.
It is specified that in 2023, UAH 233 million was spent on the renewal of the fleet of transport and BDF containers, UAH 338 million on IT and R&D, and UAH 17 million on the development of the fulfillment business.
In 2023, TAS Insurance Group (Kyiv) collected UAH 3.540 billion in premiums under insurance contracts, which is 45.5% more than in 2022.
According to the company’s website, in particular, the insurer collected UAH 723.23 million in insurance payments under hull insurance contracts, which is 41% higher than in 2022 and accounts for 20.43% of total premiums.
In turn, UAH 1.150 billion of payments (+35.8%) were made for MOTPL, which is 32.48% of the total premiums for the year. Sales of the Green Card increased even more significantly, by 78.2%, to UAH 856.74 million, or 24.2% of the company’s total payments for the year.
At the same time, the share of VHI in the insurer’s portfolio amounted to 10.93% last year. Under voluntary health insurance contracts, TAS Group attracted UAH 386.91 million in premiums, which is 46.7% more than in 2022.
The company’s payments under property insurance contracts amounted to UAH 84.42 million, which is 13.8% higher than the corresponding figure for the year before last, and UAH 338.78 million of payments under other contracts (+33%).
As reported, in 2023, TAS IG paid a total of UAH 1.341 billion under the concluded insurance contracts, which is 48.3% more than the company’s indemnities for 2022.
TAS Insurance Group 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 of 28 regional directorates and branches.
Changes in revenue of the consolidated budget in 2021-2023 (%)
Source: Open4Business.com.ua and experts.news
At an informal meeting in Brussels, EU defense ministers agreed to fulfill their promise to supply 1 million artillery shells to Ukraine, Estonian Defense Minister Hanno Pevkur said.
“We have just agreed with the EU defense ministers that we will fulfill our promise to supply 1 million artillery shells to Ukraine. By the end of March, we will have delivered more than 0.5 million shells. More than 1.1 million shells by the end of 2024. The EU’s production capacity will increase to 1.5 million by the end of 2024,” Pevkur wrote on social media site X.
Last spring, the EU countries jointly agreed to send one million shells to Ukraine by March 2024 to repel Russia’s military aggression.
The Enforcement Division of the State Enforcement Service Department of the Ministry of Justice of Ukraine has put up for sale through the OpenMarket electronic auction (SE “SETAM” of the Ministry of Justice of Ukraine) an integral property complex located in Odesa at the 19th km of Starokyivska road, 34.
The building has an area of 25,659.90 square meters. The lot consists of:
– the main building with utility blocks, a loading dock and a railway track;
– administrative building, security building, weighbridge, electrical workshop building;
– oils and greases warehouse, material warehouse, water measuring unit;
– switchgear, boiler house, carpentry shop, repair and mechanical shop;
– a trade pavilion, a car wash, a gas station, a warehouse of oils and lubricants and other property.
The full list is available at the link to the lot: setam.net.ua/auction/540581
“The auction is scheduled for February 7, so potential bidders have time to pay the guarantee fee and participate in the auction. The lot is being auctioned for the second time, so its starting price has been reduced by 15% from the first auction. Now the starting price for the complex, including VAT, is UAH 112,325,800, which is approximately UAH 4,377 per 1 sq. m.,” said Oleksandr Mamro, CEO of SE SETAM.
The OpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014. The total amount of sales since its launch is UAH 21.8 billion.
