The League of Insurance Organizations of Ukraine (LIOU) and the National Association of Insurers of Ukraine (NAU) have signed a Memorandum of Cooperation and Partnership.
“The League of Insurance Organizations of Ukraine and the National Association of Insurers of Ukraine, while remaining independent and autonomous associations, agreed to establish the Federation of Insurance Associations of Ukraine (FIAU) in accordance with the terms of the Memorandum, whose task is to form a common position of professional associations of insurers for the sake of market development in synergy with the regulator,” the League said.
It is specified that the main directions of the FSOI, in particular, will be: exchange of information and proposals for the formation of common positions on the development of the insurance market, legislation and amendments to it, protection of the interests of Ukrainian insurance companies at the national and international levels; formation of a positive image of insurance in Ukrainian society; development of codes of ethics and standards of professional conduct for insurers, in particular in terms of cooperation with insurance intermediaries and other participants in the insurance market, in particular in the field of insurance services.
In addition, it is envisaged to: develop and implement principles and approaches to the system of professional education; develop and adopt qualification requirements; organize educational programs, training for professional development and certification of insurance market participants; promote social responsibility of insurers, improve insurance products and services.
The FSOI’s working body is the Coordination Council, which will include two representatives of each of the LIOU and NASU, as well as the heads of the two associations.
The FSFU Council will be headed by a chairman who will be elected annually from the Coordination Council.
The report also clarifies that the parties to the Memorandum may only be associations registered as legal entities operating in accordance with the requirements of the law, which include insurers, and may also include persons operating in the insurance market and/or in the field of insurance.
“The FOSU and the National Association of Insurers are open to other professional associations of insurers joining the FOSU and call for moving towards each other for the development of the national insurance market,” the statement said.
In December 2024, the Export Credit Agency (ECA) supported UAH 311.47 million of exports, bringing the total to UAH 7.5 billion since the beginning of the year.
According to the ECA website, the largest number of loans for exporters in December were issued and insured by Vostok Bank (UAH 175 million), Ukreximbank (UAH 43.8 million), and PrivatBank (UAH 40.7 million).
Entrepreneurs in Odesa region (UAH 174.8 million), Dnipropetrovs’k region (UAH 174.8 million), and Zakarpattia region (UAH 43.8 million) were the most active users of ECA services.
In December, Ukrainian exporters planned to trade with Latvia, Poland, and Uzbekistan the most: they will supply grain and flour products, paper and cardboard products, and toys.
In December, the ECA insured a bank guarantee for exports of services for the first time. It was provided by Ukreximbank to the Ukrainian company C.E. Industry Group, which won a tender for the repair of mining equipment of the Polish state-owned company Polska Grupa Górnicza S.A. The contract amount is UAH 43.78 million (PLN 4.25 million), the guarantee amount is UAH 17 million, and the validity period is 13 months.
The Export Credit Agency was established to stimulate the export of goods (works, services) of Ukrainian origin and support exporters-residents of Ukraine through insurance, reinsurance, and guarantees under security contracts for export development. On January 7, 2023, the National Bank of Ukraine was authorized to regulate the activities of the ECA.
The value of residential real estate in the euro area in the third quarter of 2024 increased by 2.6% compared to the same period a year earlier, according to the European Union Statistical Office (Eurostat).
In EU countries, the figure increased by 3.8%.
Only four countries recorded a decline in prices in annual terms, with the strongest declines in France (by 3.5%) and Finland (by 2.8%). The most significant increases were recorded in Bulgaria (by 16.5%), Poland (by 14.4%), and Hungary (by 13.4%).
In July-September, housing prices rose by 1.4% in both the euro area and the European Union compared to the previous three months. In the quarterly comparison, prices fell only in Finland (by 0.6%) and Estonia (by 0.5%), while the most significant price increases were recorded in Bulgaria (by 3.9%), Portugal (by 3.7%) and the Netherlands (by 3.6%).
For comparison, in the second quarter, housing prices in the euro area rose by 1.4% year-on-year, and in the European Union by 3%. Compared to the first quarter, prices rose by 1.9% in both regions.
Spanish authorities are planning to introduce a 100% tax on real estate purchases for non-EU residents. This measure is part of a plan presented by Prime Minister Pedro Sanchez aimed at overcoming the housing crisis and ensuring the availability of housing for local residents, the Financial Times reports.
The head of government said that EU non-residents annually buy 27 thousand residential properties in Spain, mainly “for the purpose of speculation”.
Spain is one of the European countries where public discontent is growing due to difficulties in finding affordable housing for purchase or rent amid a sharp rise in real estate prices and a significant lag between new construction and demand.
Over the past 10 years, housing prices in Europe have jumped by 48%, which is about twice the growth in household income over the same period, Sanchez said.
Spanish real estate is in high demand among people who buy vacation homes or want to move to a country with a warmer climate.
Such purchases are already subject to a number of taxes, the amount of which depends on the region and whether the transaction is on the primary or secondary market. In total, these taxes range from 7% to 12%.
Other measures proposed by the government include the transfer of more than 3,300 houses and approximately 200 hectares of land to a new state-owned company for the construction of social housing, stricter regulation of seasonal rentals, the restoration of empty buildings, and the provision of incentives to homeowners who rent out their homes at affordable prices.
Optima hotel chain (formerly Reikartz) opened the Optima Collection River Park hotel near Lubart’s castle in Lutsk on January 13.
According to the chain’s press service, the hotel has 86 rooms of the following categories: “Classic Single, Classic Twin, Classic Double, Standard, Superior, Superior MHN, Junior Suite and Suite. The hotel also offers two conference rooms and a meeting room. The hotel has a shelter for staff and guests during an emergency.
The Optima Hotels & Resorts chain unites more than 60 hotels in Ukraine. Until 2023, the chain was developing under the Reikartz Hotels & Resorts brand, and since 2020, with the help of Turkish shareholders, it has opened hotels in Kazakhstan, Georgia and Uzbekistan. In the summer of 2023, Turkish shareholders bought the Reikartz brand from a Ukrainian company for development in Turkey and Central Asia. In Ukraine, the hotel chain was rebranded in 2023 with the new name Optima Hotels & Resorts.
Optima Hotel Management LLC was established in 2008. According to Opendatabot, the company’s shareholders are Volodymyr Kashutin (Lviv, 99.9%) and Andriy Dema (Kyiv, 0.1%). Kashutin is listed as the ultimate beneficiary. At the same time, until 2019, the beneficiaries were Russian citizens Yuriy Vasin, Leonid Lavrentiev and Timur Rodionov.
According to the financial results for 2023, the company’s net profit amounted to UAH 7 million, compared to a loss in 2022. Revenue increased by 40.8% to UAH 445.8 million.
In 2024, the Ministry of Foreign Affairs and the State Service of Ukraine on Food Safety and Consumer Protection opened access to 16 new foreign markets for Ukrainian exporters, and the Ukrainian control system was recognized by key trading partners such as China, Canada, the United States, and EU member states, the press service of the State Service of Ukraine on Food Safety and Consumer Protection (State Service) reports.
“We understand that in times of full-scale war, it is critically important to support Ukraine’s economy, and in the face of challenges in the domestic market, exports are of particular importance. In fact, it is an opportunity to attract resources from outside the national economy and create opportunities for Ukrainian producers. Therefore, it is a strategic priority for us to help our companies enter new foreign markets. The Ministry of Foreign Affairs and the State Service of Ukraine for Food Safety and Consumer Protection act as the key that opens the door to trade. We negotiate with governments and partners on permits, certificates, trade liberalization, and admission of Ukrainian products. Last year, thanks to this work, we managed to open 16 new markets, and we plan to achieve new results in 2025,” said Andriy Sybiga, Minister of Foreign Affairs.
“The common goal of the State Food and Consumer Service and the Ministry of Foreign Affairs is to increase the export potential of Ukraine and its producers. And the results of 2024 show that we have succeeded. For example, our honey can now be exported to China, and egg products to Canada,” said Serhiy Tkachuk, Head of the State Service of Ukraine for Food Safety and Consumer Protection.
He added that Ukraine is currently working with more than 60 countries to enable Ukrainian producers to export their products of plant and animal origin.
The State Food and Consumer Service reminded that in 2024, Ukrainian producers gained access to foreign markets for 16 product groups in nine countries, including the Israeli market for poultry and fish flour, as well as oils and fats for animal feeding, China – for honey, Kuwait – for marine and river aquatic animals (fish, mollusks, crustaceans, needlefish, including those grown on farms), and the Kingdom of Bahrain – for poultry and poultry products, Bosnia and Herzegovina – for mechanically deboned poultry meat, Canada – for egg products, Albania – for meat products for human consumption and canned feed and chewing products for domestic animals, Moldova – for ungulates registered for breeding and user purposes, semi-finished poultry products, meat products and composite products, North Macedonia – for meat products. In addition, a veterinary health certificate was agreed upon to accompany reptiles to Israel.
The agency added that the certificate forms are published on the official web portal of the State Service of Ukraine for Food Safety and Consumer Protection in the section “International Cooperation” – “Veterinary and Safety” – “Certificates for Export from Ukraine”.
Currently, work is underway with international partners to expand sales of various commodity items, including poultry products, live cattle and small cattle, beef and pork, milk and dairy products, honey, apples, blueberries and cherries, peas and beans, onions, wheat flour, fish and fish products, and reproductive material.
“The Ministry of Foreign Affairs of Ukraine and the State Service of Ukraine for Food Safety and Consumer Protection will continue to work together to open new markets for Ukrainian exports, providing support to producers and eliminating technical barriers to trade, as well as providing state guarantees of compliance with the requirements of partner countries,” the ministry assured.
As reported, Ukraine has the right of access to export products in 360 trade directions of agricultural products. Over the past ten years, Ukraine has conducted more than 30 relevant international assessments.
