Business news from Ukraine

Insurer “TAS” has attracted almost UAH 300 mln of payments in March

Insurance group “TAS” (Kiev) in March 2024 attracted UAH 291.27 mln of insurance premiums under the concluded insurance contracts, which is 68% higher than the volume of payments collected by the company for the same period last year.

According to the insurer’s website, the volume of CASCO sales increased by 46.1% to UAH 57.39 mln of payments, which is 19.7% of the total amount of March premiums, MTPL – by 42% to UAH 90.54 mln or 31.1% of the total volume, Green Card – by 2.4 times to UAH 112.5 mln or 38.6% of the total volume.

Besides, the volumes of collections under property insurance contracts have grown by 29,3% – the company has attracted UAH 4,94 mln of payments under them in March.

Under contracts of voluntary medical insurance the company for the first month of spring 2024 collected UAH 2.73 million of payments, under other insurance contracts – UAH 23.21 million, which is 48.9% more than in the past.

As reported, in March the company paid out UAH 157.08 million – it is by 38.6% more indemnities of the company compared to March a year earlier. At the same time, a quarter of payments of the insurer for the reporting period (25,39%) came to CASCO – UAH 39,88 mln (+23,1%), MTPL – 34,48% of the volume of payments – UAH 54,16 mln (+14%), “Green Card” – 23,04%, or UAH 36,19 mln (+86,2%).

At the same time, the volume of payments under VHI has grown in 2,47 times, up to UAH 22,83 mln, that is equal to 14,54% of the total amount of payments of the company following the results of the reporting period. Under other insurance contracts the company’s payouts following the results of March totaled UAH 4,02 mln.

IG “TAS” was registered in 1998. It is a universal company offering its clients more than 80 types of insurance products on various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.

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“Ukrburgaz” set record for drilling new wells in April

Ukrburgaz Drilling Department (a division of Ukrgasvydobuvannya JSC) drilled 40,059 meters in April 2024, which is 24% higher than the previous monthly record set in November-2023 – 32,423 meters.

“Despite the war, we continue to drill new wells, increase gas production, fill underground storage facilities and generally work on increasing production figures,” Naftogaz Group head Oleksiy Chernyshov said, quoted on the company’s website on Wednesday.

According to him, the record figures were achieved, in particular, due to the rapid construction of drilling sites, accelerated work on mobilization of equipment and installation of drilling rigs, as well as clear distribution of special-purpose vehicles to accelerate the start of drilling of 9 wells.

In turn, as the head of Ukrgasvydobuvannya, Oleg Tolmachev, commented, the acceleration of drilling is directly related to improved production performance.

“We have already significantly increased the penetration rate. This year we plan to drill 365 thousand meters,” he noted.

Naftogaz Group increased gas production by 12% year-on-year in the first quarter of 2024.

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Ukraine exported record 13.1 mln tons of goods worth $3.3 bln

Ukraine’s exports in April this year increased by 11% compared to March and reached 13.1 million tons, the best result since the full-scale Russian invasion, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said on Facebook on Wednesday.

“This is an absolute record for the entire period of the full-scale war. For example, in March, exports amounted to 11.8 million tons, in January – 12 million tons. Importantly, this figure is higher than the level of pre-war February 2022. Back then, we exported 12.8 million tons,” the Minister of Economy reminded.

According to her, in monetary terms, exports in April amounted to $3.3 billion compared to $3.2 billion in March.

Svyrydenko noted that the growth in exports was primarily due to the operation of an alternative sea corridor, which made it possible to partially compensate for losses in the economy due to the blockade of the Polish-Ukrainian border, as well as the introduction of a mechanism for insuring ships against military risks, which initially applied only to agricultural products, but was soon expanded to all non-military cargo.

“Of course, the growth and expansion of the capacity of the Solidarity Roads, primarily with Moldova and Romania, has also added to the growth. And the improvement of the conditions for the transportation of goods by rail to the Danube ports,” the Deputy Prime Minister said.

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Curfew will not change in Kyiv on Easter night

Representatives of the National Police of Ukraine and Kyiv municipal security officers will patrol the places of worship and gatherings of believers during the celebration of the Resurrection of the Lord on May 5 to maintain law and order, said the head of the Kyiv City Military Administration Serhiy Popko.

“Law enforcement officers will be on duty near the churches to help evacuate believers and clergy to the nearest shelters during the air raid. In addition, there will be special temporary monitoring centers that will promptly monitor the situation in Kyiv to avoid offenses,” the city military administration said in a statement on its telegram channel on Wednesday.

It is reported that law enforcement officers will guard churches, cathedrals and the Kyiv-Pechersk Lavra National Reserve in the capital “in order to prevent provocations.”

The curfew on Easter will remain in effect from 00:00 to 05:00, Popko said.

“Dear Kyiv residents and guests of the city, if possible, watch the service online – on TV or via YouTube or Facebook. If you do decide to go to church, take care of safety! Try to avoid large crowds. Do not forget that the country is at war. Our enemy has nothing sacred! Even on such bright days of celebration of the Resurrection of the Lord, the aggressor can only be expected to do evil! The threat of provocations or rocket attacks on this day has not been lifted! Follow the safety rules. Be aware of air raid warnings. When they are announced, go to the nearest shelter,” the statement reads.

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Major grain trader Qortia AG resumes grain exports from Odesa

International grain trader Qortia AG (Switzerland) has resumed grain shipments from Ukraine’s deepwater ports, the company reported on Linkedin.

According to the report, the company sent the vessel Bereket M (Panama flag) with a cargo of 21.5 thousand tons of Ukrainian corn from Pivdennyi port to Turkey.

“Bereket M became the first vessel this year that Qortia AG loaded exclusively by its own resources in a deep-water Ukrainian port. Since the company’s establishment, we have been actively shipping to Ukraine from deep water for six years. However, after the Russian invasion, we focused mainly on the development of river transportation and transshipment in the ports of the Danube cluster, where the company’s share reached 15%,” the statement said.

Qortia AG is a Swiss agri-trading and logistics company headquartered in Switzerland. It specializes in the purchase and export of grains (wheat, corn, soybeans, barley, etc.), oilseeds, and processed products. The Ukrainian representative office is located in Odesa. Its owners are Konstantin Kuflyk, Dmitry Yandovsky, and Andrey Vitryak.

Bereket M is a bulk carrier flying the flag of Panama. Its length (LOA) is 154.38 meters and its beam is 26 meters.

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“Poznyaky-Zhil-Bud” increased its net profit by 3.3 times

Poznyaky-Zhil-Bud PrJSC (Kyiv) increased its net profit by 3.3 times to UAH 19.8 million in 2023.

According to the company’s financial results, published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), net income also increased 3.3 times to UAH 240.6 million.

In 2023, Poznyaky-Zhil-Bud’s retained earnings amounted to UAH 2.1 million. By the end of the reporting period, long-term liabilities decreased by 41.3% to UAH 3.2 million, while current liabilities increased by 5.4% to UAH 2.36 billion.

In general, the value of Poznyaky-Zhil-Bud’s assets increased by 6.2% last year to UAH 2.37 billion.

The company did not provide information on the distribution of dividends for 2023.

According to the NSSMC, as of the third quarter of 2023, Ruzanna Kahramanyan (100%) is the shareholder of Poznyaky-Zhil-Bud.

Poznyaky-Zhil-Bud PrJSC was founded in 2002 and specializes in the construction of elite residential real estate, commercial real estate and social infrastructure.

According to the company’s website, its portfolio of completed construction projects includes residential and office complexes with an area of over 1 million square meters.

Since December 2015, Poznyaky-Zhytlo-Bud Corporation has been a part of the investment and development group of companies Taryan Group (Kyiv), established in 2011 by Artur Mkhitaryan, former president of Poznyaky-Zhytlo-Bud PrJSC.

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