Business news from Ukraine

Business news from Ukraine

IC “Nadiyna” has sharply reduced gross premiums

Private JSC “Insurance company ‘Nadiyna’ (Kyiv) in January-September 2023 has collected gross insurance premiums in the amount of UAH 49,890 mln, that is by 49,9% less than in the same period a year earlier. This is evidenced by the data in the information of RA “Standard-Rating” on updating the company’s credit rating/rating of financial stability (reliability) of the insurer at the level uaA+ according to the national scale.
Thus premiums from individuals have amounted to UAH 0,36 m, and premiums from reinsurers have been absent. Thus, following the results of the nine months of 2024 the client portfolio of the insurer on gross premiums has been mainly represented by legal persons.
Insurance payments sent to reinsurers, for the reporting period have decreased by 78,57% compared to the same period of 2023 – to UAH 11,818 mln. The ratio of reinsurers’ participation in insurance premiums has decreased by 31,69 p.p. to 23,69%.
Net premiums of the insurer have decreased by 14,31% – to UAH 38,072 mln, and net earned premiums – by 19,28%, to UAH 35,586 mln.
The volume of insurance payments and indemnities made by the company has grown by 89,55% – up to UAH 10,844 mln. Thus, the level of payouts has grown by 15,99 p.p. and has amounted to 21,74%.
Profit from operating activities of the insurer has amounted to UAH 15,335 mln, and net profit has amounted to UAH 13,392 mln.
Assets as of November 1, 2024 have grown by 12,95% – to UAH 85,693 mln, shareholders’ equity – by 5,76%, to UAH 68,306 mln, liabilities – by 54,13%, to UAH 17,387 mln, cash and cash equivalents – by 39,94%, to UAH 57,572 mln.
As of the reporting date, the company formed a portfolio of current financial investments in the amount of UAH 6.195 mln, which consisted of investments in government bonds.
According to the company’s website, it was registered in the Unified State Register of Legal Entities, Physical Entrepreneurs in 2006. Its authorized capital is UAH 15 million.
Its shareholders are eight individuals – residents of Ukraine and one legal entity – Agroholding 2012 LLC.

 

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General strike has begun in Italy

On Friday, Italian citizens went on a general strike demanding higher wages and increased investment in the social sphere, ANSA reports. Employees of the public and private sectors intend to strike for eight hours.

In the transportation sector, by order of Italian Minister of Infrastructure Matteo Salvini, the strike will be limited to four hours. Thus, water transport, buses, subways and trams will stop working from 09:00 to 13:00 local time (10:00 to 14:00 Kyiv time). Air traffic will be suspended from 10:00 to 14:00 local time (11:00 to 15:00 Kyiv time). Firefighters will also not work during this time period.

However, the strike will not affect rail services. A total of 43 protests are planned throughout Italy on Friday. The day before, the Italian Labor Union and the General Italian Labor Confederation called on citizens to go on strike to demand higher wages, increased funding for healthcare, education, public services, and investment in industry.
According to various estimates, there are about 1 million Ukrainian citizens in Italy.

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Veranda na Dnіpі restaurant made promotional video with Olympic champion Olga Harlan

In the very heart of Kyiv, on the picturesque Dnipro embankment, Veranda na Dnipre restaurant continues to invite guests and celebrity ambassadors. The new promotional video, which features Olympic champion Olga Harlan, is a vivid confirmation of the restaurant’s unique concept.

In the video, the restaurant’s brand chef Sergey Bashinsky demonstrates the exquisite skill of cooking lobster. The video culminates in the moment when Olga Harlan, with her trademark grace and determination, cuts the lobster with a sword. This vivid image symbolizes the perfect combination of culinary and sports professionalism.

“It was a unique experience to combine my sportsmanship with the art of cooking. I am very pleased to be a part of this story, which so successfully emphasizes the values of health and excellence that underlie Veranda na Dnipro. Here, every moment is a holiday,” comments Olga Harlan.

Collaboration with the Olympic champion was an important step for the restaurant in creating a new aesthetic. Olga, who symbolizes not only strength but also elegance, perfectly complements the atmosphere of the restaurant, where luxury and a sense of celebration reign.

“We are proud to work together with such an outstanding personality as Olga Harlan. Her sporting achievements, patriotism and love for haute cuisine perfectly resonate with our vision of the restaurant as a place where special moments are born,” says brand chef Sergey Bashinsky.

Veranda na Dnepre is known for its rich menu, which includes dishes from 12 cuisines. Organic products cooked with love for details, signature drinks and desserts, as well as the largest wine list in Ukraine create a real gastronomic pleasure.

Every detail in the restaurant is carefully thought out to give guests comfort, coziness and perfect service. From business meetings to romantic evenings, Veranda na Dnipro is always the best choice for celebrating moments you want to remember forever.

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IC “VUSO” plans to appoint new deputy chairman of board

Shareholders of PJSC Insurance Company VUSO (Kyiv) on December 10 will decide on the appointment of Irina Hevel as Deputy Chairman of the Board for digital business by transfer from the position of Advisor to the Head of the Board. This is reported in the draft decisions of the shareholders’ meeting, publicized by the company in the system of the National Commission on Securities and Stock Market.

As reported, Irina Gevel from August 2017 and until the end of 2023 held the position of the head of the Board of IC “Alfa Insurance”.

In addition, during the meeting Alexey Babenko is planned to be appointed to the position of the Head of Internal Audit Service and Yuri Izotov to the position of the Head of Risk Management of IC “VUSO” by transferring them from the position of the advisor of re-directing. At the same time, it is emphasized that Izotov may take office after the approval of the NBU. Also during the meeting the shareholders plan to approve the risk management policy of the company in a new edition, the plan of continuous activity of IC “VUSO” and the report on compliance risk management for Q3 2024.

IC “VUSO” was founded in 2001. The company holds 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, is represented in all regions of Ukraine. It is a member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU) and the Ukrainian Insurance Federation (UIF), as well as a participant of the Agreement on direct settlement of losses and a member of the Nuclear Insurance Pool.

 

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Every 8th company in Ukraine is registered in frontline area

How many companies are located in the territory of active hostilities

According to the Ministry of Reintegration, 180,253 Ukrainian companies are registered in the frontline areas. Of these, 14% are in the areas of active hostilities. Most of these businesses are in Kharkiv and Zaporizhzhia regions.

Currently, more than 1.4 million companies are registered in Ukraine. 13% of them are registered in the frontline areas – about 180 thousand businesses.

You can check the registration of companies and individual entrepreneurs in the temporarily occupied territories in the OpenDataBot.

Only 1.1 thousand of these companies operate in the areas where active fighting is taking place and all state registries are disabled. Another 25 thousand (14%) are located in the area of active hostilities, where state electronic information resources are functioning. The vast majority are registered in the area of possible hostilities – 153 thousand businesses

Kharkiv region has the largest number of registered businesses among the 9 frontline regions. More than a third of companies are registered in this region – over 69 thousand. Almost half as many businesses are registered in Zaporizhzhia region – 32 thousand. Mykolaiv region closes the top three with 27 thousand (15.2%).

https://opendatabot.ua/analytics/frontline-business

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“TAS Dneprovagonmash” increased its consolidated net profit by 6%

TAS Dneprovagonmash LLC (DVM, Kamianske, Dnipro region), controlled by businessman Sergiy Tigipko’s TAS Financial and Industrial Group, posted a consolidated net profit of UAH 84.08 million in January-September, up 6% year-on-year.
According to the company’s interim reports, published on Thursday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its consolidated net income increased by 62.8% to UAH 1.61 billion.
The report notes that the consolidated financial statements include the performance of the car-building company TAS Dniprovagonmash and its subsidiary, the casting manufacturer TAS Steel Plant.
As reported, TAS Dneprovagonmash’s unconsolidated net profit for January-September amounted to UAH 53.86 million, which is 5.4% more than in the same period in 2023, with unconsolidated revenue growing by 76.4% to UAH 1 billion 278 million.
According to the report, the company’s consolidated net income includes revenue from the sale of railcars and rolling stock of UAH 1.245 billion, revenue from the sale of castings and shot of UAH 332.2 million, revenue from the sale of spare parts of UAH 31 million, and revenue from services rendered (almost UAH 1.18 million), including railcar repair.
In the first half of this year, the company’s consolidated profit decreased by almost 2.4 times compared to the same period in 2023 to UAH 40.37 million, while consolidated net income increased by 35% to UAH 1.01 billion.
As reported, at the beginning of 2023, TAS Group became a strategic investor in the TransAnt GmbH railcar building joint venture of Austrian Voestalpine and ÖBB Rail Cargo with a 40% stake, and in the spring of 2024 it became the majority owner of TransAnt, increasing its stake to 61%.
This year, the company plans to invest UAH 100.2 million in the development of the European direction (for the purchase of equipment).
As reported, TAS Dneprovagonmash produced 378 freight cars in 2023 (including for the EU market), which is 34.8% less than in 2022, while sales decreased by 40.6% to 370 units. Non-consolidated revenue decreased by 2.8% to UAH 1 billion 77 million, while net profit increased slightly to UAH 49.2 million.
TAS Group was founded in 1998 by businessman Sergey Tigipko. Its business interests include the financial sector (banking and insurance) and pharmacy, as well as industry, real estate, and venture capital projects.

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