Business news from Ukraine

Business news from Ukraine

INGO Insurance Company paid UAH 81 mln for losses caused by fire at Korolivsky Smak plant

18 July , 2025  

INGO Insurance Company has finally completed the process of compensation for losses after the high-profile fire that occurred in the winter of 2024 at the production facilities of Viktor & K (Korolivsky Smak brand) in Kirovograd region.

According to the insurance company, the total payout amounted to UAH 81.4 million. This is one of the largest insurance payments in the industrial insurance sector in recent times.

The company clarifies that during the fire that occurred on February 15, 2024, in the village of Vlasivka in Kirovograd region, the fire completely destroyed the oil press shop, the finished product warehouse and all the technological equipment inside. The buildings are beyond repair after the fire. According to law enforcement officials, the fire was caused by an arson attack by an unidentified person. The criminal case is still ongoing, and there are no results of the investigation yet.

According to the insurance company, the loss settlement process proved to be particularly difficult due to the extent of the damage and the need for an accurate and professional assessment.

The full amount of compensation was paid to the company on July 1. Of the UAH 81.4 million paid out, more than UAH 64 million was for buildings and almost UAH 17 million for equipment.

“This insurance event is one of the largest in the industry in recent years. According to insurance market experts, such precedents are important because they confirm the ability of insurance to support business in difficult conditions,” the information emphasizes.

Viktor & K is known for the Korolivsky Smak brand, which produces mayonnaise, ketchup, sauces and oils.

INGO Insurance Company JSC holds licenses for 18 classes of insurance and has been providing insurance services to both individuals and companies for over 30 years. INGO Insurance Company is among the largest insurance companies in Ukraine in terms of premiums, own assets and insurance claims. Its network includes 25 branches, five offices and nine customer service centers operating in all regions of the country.

Since 2017, the main shareholder is the Ukrainian business group DCH.

 

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