In January-March 2024, the insurance company “Knyazha Vienna Insurance Group” (Kyiv) collected UAH 543.5 million of insurance payments, which is 41.54% more than in the same period a year earlier, according to 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.
As reported on the RA website, during the period under review, the insurer’s revenues from individuals increased by 45.71% to UAH 376.64 million, and from reinsurers – by 27.81% to UAH 0.579 million. At the end of the quarter, the share of individuals in the company’s gross premiums amounted to 69.30%, and the share of reinsurers – 0.11%.
Insurance payments sent to reinsurers in the first quarter of 2024 increased by 46.48% to UAH 182.286 million compared to the same period in 2023, while the participation ratio of reinsurance companies in insurance premiums increased by 1.13 percentage points to 33.54%.
Net written premiums increased by 39.16% to UAH 361.221 million, while earned premiums increased by 47.24% to UAH 451.132 million.
Insurance claims and reimbursements increased by 63.25% to UAH 217.704 million. Thus, the claims ratio increased by 5.33 percentage points to 40.06%.
The insurer’s net profit for the first quarter of 2024 amounted to UAH 18.094 million.
At the same time, assets increased by 3.97% to UAH 1.853 billion, equity increased by 3.09% to UAH 462.559 million, liabilities increased by 4.27% to UAH 1.391 billion, cash and cash equivalent decreased by 37.72% to UAH 31.166 million.
The RA notes that as of April 1, 2024, the insurer made financial investments in the amount of UAH 930.821 million, consisting of government bonds (78.15% of the investment portfolio), as well as deposits in banks with a high credit rating (21.85% of the portfolio).
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%.
ATB Group of companies paid UAH 13.26 billion in taxes and fees for the first half of 2024, which is 10%, or UAH 1.25 billion, more than in the same period in 2023, the company’s press service reports.
Of this amount, UAH 8.68 billion was transferred to the state budget, local budgets received UAH 3 billion, and UAH 1.58 billion was allocated to trust funds.
The leader in terms of tax payments is the corporation’s flagship company, ATB-Market LLC, which operates a retail network. Since the beginning of 2024, ATB-Market has paid taxes and duties totaling UAH 10.22 billion, including UAH 6.52 billion to the state budget, UAH 2.48 billion to local budgets, and UAH 1.22 billion to trust funds.
In 2023, ATB-Market paid taxes and fees totaling UAH 19.45 billion (in 2022 – UAH 15.63 billion). At the same time, the chain’s turnover amounted to UAH 176.9 billion, which is 2% lower than in 2021 (UAH 179.8 billion).
According to the press service, ATB has been among the ten largest taxpayers in Ukraine for many years.
ATB Corporation is an association of large Ukrainian enterprises operating in such business areas as retail, asset management, food production and sales, and sports and recreation services. Its companies employ more than 70 thousand people.
In 2023, ATB paid UAH 25.06 billion in taxes and fees. Despite the negative factors caused by the war, this figure is UAH 4.62 billion higher than the financial results of 2022 (UAH 20.44 billion).
As of July 15, 2024, the corporation’s retail network includes 1228 stores, compared to 1316 stores in January 2022.
Exports of selected agricultural products, mln tons
Source: Open4Business.com.ua
In January-June 2024, Ukrzaliznytsia (UZ) increased the number of freight cars repaired at its depots and car repair plants by 11.6% to 11.6 thousand.
“More than 11,608 thousand freight cars were repaired at the facilities of Ukrzaliznytsia in the first half of 2024. This is 11.6% more than in the same period last year,” the UZ press service said on Monday.
Among all types of cars, the most repaired were gondola cars (over 6.3 thousand), grain carriers (1.4 thousand), tanks (890), and cement carriers (780).
It is noted that UZ repairs freight cars at the depots of regional branches and car-building and car-repair plants. Up to 50% of repairs are carried out by order of private business entities that own a particular freight rolling stock.
Due to the deteriorating security situation in the Middle East, the Ministry of Foreign Affairs of Ukraine has updated its recommendations for Ukrainian citizens to stay in Israel and Lebanon and recommends that they refrain from any trips to these two countries until the situation stabilizes.
“Those who are already in Israel are urged to follow the updated recommendations published on the website of the Ministry of Foreign Affairs. We also recommend that you refrain from traveling to the territories bordering the Lebanese and Syrian borders; territories bordering the Gaza Strip; and the West Bank,” the ministry’s press service said.
Also, the Ministry of Foreign Affairs of Ukraine strongly recommends that Ukrainian citizens who are in Lebanon leave its territory, as well as avoid the territories bordering the Syrian border, bordering the Israeli border south of the Litani River, the refugee camps of Nahr al-Bared and Beddawi (near Tripoli), Ain al-Gilweh and Mieh Mieh (near Saida), the Bekaa Valley and the southern suburbs of Beirut (Dahiyeh district).
The Ministry of Foreign Affairs of Ukraine recommends that Ukrainian citizens staying in Israel and Lebanon avoid crowded places, do not participate in demonstrations, strictly observe security measures and rules of stay of foreigners in the country, comply with the lawful requirements of law enforcement agencies, follow the reports of local authorities on the development of the situation and always have their identity documents with them.
Citizens of Ukraine who find themselves in an emergency situation or face a threat to life and health may, depending on the country of residence, contact either the Embassy of Ukraine in the Republic of Lebanon by phone (+961) 5921668 or by e-mail: emb_lb@mfa.gov.ua.
In the event of an emergency in Israel, it is recommended to contact the Embassy of Ukraine in the State of Israel by emergency phone number: +972-546-676-782 or e-mail: consul_il@mfa.gov.ua, or the Ukrainian diplomatic mission in Ramallah by phone: +972-59-823-93-99 or e-mail: pm_ps@mfa.gov.ua.
Citizens can also contact the round-the-clock hotline of the Ministry of Foreign Affairs of Ukraine at +38-044-238-16-57 or by e-mail at cons_or@mfa.gov.ua.
Wind and solar power in the first half of 2024 surpassed coal power in terms of capacity for the first time in Chinese history, the South China Morning Post (SCMP) reports, citing a report by the China Electricity Council (CEC). Thus, the share of wind and solar generation amounted to 38.4% (1180 GW) of the total installed capacity of 3070 GW, while the share of coal fell to 38.1% (1170 GW).
The CEC expects China to add about 300 gigawatts (GW) of solar and wind power to the grid this year, bringing their combined capacity to more than 40% of the total installed capacity of 3,300 GW of all energy sources.
China, which is currently the world’s largest consumer, producer and importer of coal, will reduce its share in the energy balance to 37%, according to the SPP.
According to Rystad Energy analysts, the reason for this change is the growing emphasis on cleaner energy sources and the country’s rejection of fossil fuels. Until 2016, about 50 GW of coal-fired power plants were built annually in the country, but at the same time, China began to make significant investments in renewable energy.
Since 2020, the annual commissioning of wind and solar power plants has consistently exceeded 100 GW, which is three to four times more than the increase in coal capacity. Since then, this momentum has only gained momentum, and last year China set a record by increasing solar and wind power capacity by 293 GW.
The dynamics in coal power, on the contrary, is declining: in 2023, about 40 GW of coal generation was added, and in the first half of 2024, according to Rystad Energy, only 8 GW. “The government has imposed stricter restrictions on new coal projects to meet its carbon reduction targets. Efforts are now focused on phasing out small coal-fired power plants, modernizing existing ones to reduce emissions, and ensuring that new projects meet stricter standards. As a result, the annual gap in capacity expansion between coal and clean energy has increased dramatically, reaching a 16-fold difference in the first half of 2024,” the experts say.
Rystad Energy analysts predict that by 2026, only solar energy will surpass coal as the main source of energy in China. Thus, the total capacity of solar generation will exceed 1.38 terawatts (TW), which is 150 gigawatts (GW) more than coal capacity.
At the same time, clean energy in China faces significant challenges such as low utilization and interruptions as capacity grows. According to Rystad Energy, solving these problems requires significant improvements to the power grid to increase transmission flexibility and storage capacity. Batteries will also be critical to maintaining grid reliability, ensuring that stability is maintained while clean energy expands to meet the needs of a growing population.
CHINA, China aims to peak CO2 emissions by 2030 and achieve carbon neutrality by 2060. As part of this plan, Coal Energy, the share of non-fossil energy consumption should rise to about 25% by 2030. solar energy
