In January-September 2024, the insurance company “Knyazha Vienna Insurance Group” (Kyiv) collected UAH 1.804 billion of insurance payments, which is 23.19% more than in the same period last year.
This follows from the message of the rating agency Standard-Rating on the confirmation of the financial strength rating/credit rating of the insurer at the level of “uaAA+” for the specified period.
According to RA’s website, during the period under review, the insurer’s revenues from individuals increased by 24.45% to UAH 1.295 billion, and from reinsurers – by 84.89% to UAH 3.731 million. The share of individuals in the company’s gross premiums amounted to 71.78%, and the share of reinsurers – 0.21%.
Insurance payments sent to reinsurers in the first nine months of 2024 increased by 43.31% to UAH 225.561 million compared to the same period in 2023. Their participation ratio increased by 1.76 p.p. to 12.51%.
At the same time, RA notes that net written premiums increased by 20.77% to UAH 1.578 billion, and net earned premiums increased by 38.06% to UAH 1.473 billion.
The volume of insurance claims and reimbursements made by the company in the first nine months of 2024 increased by 56.78% compared to the same period in 2023 to UAH 687.310 million. Thus, the payout ratio increased by 8.17 percentage points to 38.11%.
According to the results of the first three quarters of 2024, the insurer’s activities were profitable. Thus, the financial result from operating activities amounted to UAH 4.562 million, and net profit amounted to UAH 57.742 million.
As of November 1, 2024, the company’s assets increased by 18.83% to UAH 2.118 billion, equity increased by 11.56% to UAH 500.567 million, liabilities showed an increase of 21.27% to UAH 1.617 billion, cash and cash equivalents decreased by 8.95% to UAH 45.565 million.
RA notes that during the reporting period, the insurer made financial investments in the amount of UAH 1.024 billion, which consisted of government bonds (76.08% of the investment portfolio), as well as deposits in banks with a high credit rating (23.92% of the portfolio). Such liquid assets covered 66.10% of the insurer’s liabilities.
PrJSC “IC ‘Knyazha Vienna Insurance Group’ is a part of IFG Vienna Insurance Group Ukraine, the main shareholder of which is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria). The group also includes PrJSC IC Ukrainian Insurance Group – 100%, PrJSC IC Knyazha Life Vienne Insurance Group – 97.8%, LLC USG Consulting – 50.7%, LLC VIG Services Ukraine – 78.7%, LLC Assistance Company Ukrainian Assistance Service – 100%.
Ukrgasvydobuvannya JSC (UGV) has launched a new well with a depth of 4202 m and a flow rate of 170 thousand cubic meters of gas per day, the press service of Naftogaz Group reports.
According to the press service, this is the 15th well at the field since the beginning of 2024. Another one is planned to be drilled by the end of the year.
“The new well was drilled in the central part of the field. We plan to drill another one by the end of the year and four more next year. Thanks to the professional and well-coordinated work of all UGV specialists, we have been able to increase production for the second year in a row,” said Naftogaz CEO Oleksiy Chernyshov, as quoted by the press service.
According to Serhiy Lagno, the head of Ukrgasvydobuvannya, this result was achieved due to the successful choice of the well site.
“This was preceded by earlier 3D seismic surveys and their qualitative analysis, preliminary identification of promising horizons, as well as clarification of their capacity,” he explained.
As reported, in January-October 2024, Ukrgasvydobuvannya increased commercial gas production by 6% compared to the same period in 2023 – up to 11.6 bcm. At the end of 2023, commercial gas production amounted to 13.224 bcm, which is 0.679 bcm more than in 2022.
NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.
The government maintains its forecast of 7% growth in Ukrainian exports in 2025, despite a smaller-than-expected harvest of late crops this year, Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka said.
“This is an absolutely objective, I would even say trivial forecast. Obviously, there may be a more optimistic forecast,” he told Interfax-Ukraine on the sidelines of the conference ”Reform Matrix: Fundamentals of enhancing economic growth for EU accession” conference in Kyiv.
At the end of October, the National Bank of Ukraine in the tables to the Inflation Report improved its estimate of growth in exports of goods and services in 2025 to only 0.9% from 0.5%, or $57.7 billion, but in the text of the report itself predicted a decline in exports of goods and services in 2025 due to a smaller harvest and weak demand for IT services, with growth resuming in 2026 due to the gradual return of the economy to normal operating conditions.
At the same time, Kachka emphasized that it is necessary to take into account not only the volume of the entire harvest, but also the mix of crops in it, especially in terms of exports.
“For example, if you look at the fact that this year we have a smaller share of corn, respectively, we have a larger share of soybeans, a larger share of rapeseed, a larger share of sunflower – these are the goods for which we have better prices in general,” he explained.
The sales representative added that the price environment has changed.
“Therefore, growth in grains and oilseeds for the next year is quite possible and organic. And now, when we analyze the market, we realize that it is actually possible to earn more with less,” Kachka summarized regarding agricultural exports.
Regarding exports of metallurgical products, he noted that much will depend on decisions in North America regarding duties, as this is an important market for Ukraine.
According to him, exports of metallurgical products are growing and may exceed 20% this year, both for semi-finished products, pig iron, and finished products.
“The question is what the security situation will be like, what the energy situation will be like, etc., but export growth is also possible,” the Ukrainian trade representative said.
According to the NBU’s balance of payments, exports of goods and services from Ukraine increased by 8.4% to $41.33 billion over the first nine months of this year, including 10.3% to $28.64 billion in goods and 4.4% to $12.69 billion in services.
Imports of goods and services increased by 0.9% to UAH 66.66 billion, including 6.2% to UAH 49.65 billion, while services decreased by 1.9% to UAH 17.01 billion.
TAS Agro agricultural holding intends to finish the 2024 season with a net profit of more than $18 million, the company’s CEO Oleg Zapletnyuk said in an interview with Forbes Ukraine.
Answering the question why TAS Agro cut its revenue three times to UAH 739 million in nine months and incurred more than UAH 70 million in losses, compared to UAH 150 million in profit last year, Zapletnyuk explained that the drop was due to a change in sales strategy.
“By the end of September 2023, the agricultural holding had sold 70% of the products it produced in 2022. This year, as of November, only 30% of the production has been sold. (…) The sale of the remaining stock will adjust the financial result. (…) The financial result will be positive and much better than last year. Last year, crop production ended the season on the verge of profitability, this year we plan to achieve more than $320 EBITDA per hectare,” said the CEO of TAS Agro.
TAS Agro was established in 2014. Its land bank includes 88 thousand hectares in Chernihiv, Sumy, Kyiv, Vinnytsia, Kirovohrad and Mykolaiv regions. The holding specializes in crop production, with elevators with a capacity of about 250 thousand tons. The livestock business is represented by a cattle herd of 5.5 thousand heads, of which 2.5 thousand heads are dairy cattle.
According to the Opendatabot resource, the company’s revenue in 2023 amounted to UAH 2.588 billion, net profit – UAH 155.842 million, debt – UAH 1.2 billion, assets were estimated at UAH 1.8653 billion, and the number of employees – 129. The authorized capital is UAH 8 thousand.
The agricultural holding is part of the TAS group, which was founded in 1998. Its business interests include the financial sector (banking and insurance segments) and pharmacy, as well as industry, real estate, and venture capital projects.
The founder of TAS and the beneficiary of TAS Agro is Sergiy Tigipko.
Parallel has opened its first filling station in Kyiv (Kiltseva Road, 6B), the company’s website reports.
It has five fuel dispensers and offers the necessary modern services. In total, this is the 11th Parallel filling station in the capital region and the 31st in the network.
According to the report, the company plans to further develop the network both by opening new filling stations and expanding the number of partner complexes operating under the Parallel brand.
“The new complex has become a symbol of renewal for us – we have lost about 80% of all filling stations in eastern Ukraine, but this does not stop us. Ukrainians never give up, no matter what difficulties they face,” said Parallel owner and CEO Alexander Dubinin.
As reported earlier, in the fall of 2020, Rinat Akhmetov’s SCM financial and industrial holding sold the Parallel filling station chain to Naftainvest 2020 LLC. At that time, the company sold its fuel at 60 filling stations in Dnipropetrovska and Zaporizka oblasts and the government-controlled areas of Donetsk and Luhanska oblasts.
According to opendatabot, Parallel-M LTD, whose ultimate beneficiary is Oleksandr Dubinin, increased its revenue by 1.9 times to UAH 4.831 billion in 2023 and posted a net loss of UAH 0.978 million, compared to UAH 1.624 million in net profit in 2022.
In 2023, the company’s liabilities increased to UAH 4.018 billion compared to UAH 1.913 billion in 2022, and its assets increased to UAH 4.532 billion compared to UAH 2.369 billion in 2022.
Leasing company Eska Capital LLC is issuing UAH 130 million of three-year F series bonds without a public offering.
The National Securities and Stock Market Commission of Ukraine approved the issue on November 19 this year, according to its website.
There is no information on other parameters of the issue.
According to the register of the National Securities and Stock Market Commission (NSSMC), this is the sixth issue of bonds by Eska Capital: In 2018, the debut issue of UAH 30 million bonds was registered with maturity in February 2022, in 2020 – issues of series “B” and “C” of UAH 50 million each with maturity in November 2023 and February 2024, in 2021 – issue of series “D” for UAH 100 million with maturity in June 2026 and in 2023 – issue of series “E” for UAH 60 million with maturity in November 2026.
Since 2008, Eska Capital LLC has been providing international leasing services for new and used cars, trucks and commercial vehicles, as well as agricultural machinery, trailers and semi-trailers, and tractors from Europe, Asia and the United States.
Currently, Oleksandr Honcharuk is listed as the sole owner of the company, while previously its beneficiaries with equal shares of 50% were Sergiy Vaskov and Anton Dyadyura.
“ESKA Capital, according to its presentation, had a leasing portfolio of UAH 410 million as of the middle of this year, with trucks accounting for 54%, agricultural machinery for 19%, passenger cars and LCVs for 18%, and special equipment for 9%.
In 2023, the company increased its revenue by 36.1% to UAH 514.49 million and net profit by 3.3 times to UAH 28.49 million, but these figures are still lower than before the war – UAH 560.48 million and UAH 41.50 million, respectively.
