Ukrainian insurance companies in January-September 2018 collected UAH 84.044 million in premiums under insurance contracts signed through resident intermediaries, which is 27.8% less than in January-September 2017 (UAH 116.370 million).
According to a report on the website of the National Commission for the State Regulation of the Financial Services Market, the number of contracts concluded through brokers during this period increased by 63.7%, to 5,363.
In accordance with the regulator’s information, out of the total amount of premiums those for personal insurance amounted to UAH 65.684 million (1,732 contracts), property – to UAH 11.757 million (125), mandatory insurance – to UAH 2.205 million (3,364), life insurance – to UAH 1.6 million (six), and liability insurance – to UAH 2.797 million (136).
The amount of remuneration for the provision of such intermediary services for the nine months of 2018 almost tripled, to UAH 20.138 million.
Reinsurance premiums received by resident reinsurers under reinsurance contracts signed by brokers in favor of reinsurers for the specified period increased by 180%, to UAH 14.321 million (under 106 contracts). In particular, premiums under property insurance contracts amounted to UAH 13.496 million, liability – to UAH 792,400, and mandatory insurance – to UAH 32,500.
Insurance claim fee payments compensated by resident reinsurers were not made under such contracts.
Ukraine’s National Commission for Financial Service Markets Regulation on December 18 amended the strategy for reforming the public regulation of the nonbanking financial service market for 2015-2020 approved by commission resolution No. 499 dated March 19, 2015, according to a posting on the website of the League of Insurance Organizations of Ukraine (LIOU).
According to the league, the goal of the strategy is to reform the public regulation of nonbanking financial services markets to ensure favorable conditions for their further development, increase investment attractiveness, restore consumer confidence in nonbanking financial services, and enhance the role of the nonbanking financial sector in the social and economic life of the country.
According to resolution No. 2230 of the regulator dated December 18, 2018, the main objectives are to bring the regulatory environment of the nonbanking financial services market to international standards of regulation and supervision, improve the activity of the regulator and increase the effectiveness of public supervision, and increase the level of financial inclusion and protection of the interests of consumer of nonbanking financial services, create favorable conditions for the strengthening and sustainable development of nonbanking financial services markets.
In particular, to achieve the strategic goal of creating an enabling environment for strengthening and sustainable development of nonbanking financial services markets, the strategy is expanded by the objective of improving the system of analysis, forecasting and strategic policy planning in the provision of nonbanking financial services.
Ukrainian insurance companies in January-September 2018 collected net premiums in the amount of UAH 25.388 billion, which is 22.1% more than in the same period of 2017, according to the website of the National Commission for the State Regulation of the Financial Services Market.
According to the regulator, gross insurance premiums collected by insurers for this period amounted to UAH 34.875 billion (11.1% up).
The share of net insurance premiums in gross insurance premiums for 9M 2018 increased by 6.6 p.p. compared to the same indicator of 2017 and amounted to 72.8%.
In January-September this year insurers paid out UAH 8.467 billion in net insurance claim fees, which is 18.3% more than in the same period a year earlier. The payout ratio decreased from 34.4% from 33.3%.
According to the regulator, gross insurance payments increased by 18.7%, to UAH 8.755 billion, the level of gross payments rose to 25.1% from 23.5%.
According to the commission, outgoing reinsurance operations for 9M 2018 decreased by 11.6%, to UAH 11.718 billion, in particular due to the decrease in domestic reinsurance by 10.5%, to UAH 9.487 billion, by non-resident reinsurers by 16.2%, to UAH 2.232 billion.
Ukraine’s Health Ministry hopes to fully launch the transplant surgery system by the end of 2019, acting Health Minister Ulana Suprun has said.
“By the middle of 2019 we would be able to make more bone marrow transplant surgeries, and before 2020 the organ transplant system will start operating,” she said on Channel 5 TV.
As reported, some activists and lawmakers expressed fears that all transplant surgery in Ukraine may be suspended from January 1, 2019, as the current law on transplant surgery will expire. The new law on human organs donation adopted in 2018 is to take effect on January 1 and it foresees the functioning of public transplantation register. At present, these registers have not yet been created.
JSC Ukrzaliznytsia has presented a catalog with a list of spare parts that require replacement to potential Ukrainian manufacturers.
According to a posting on the website of the company, thanks to replacement of imported spare parts used in the railway sector, Ukraine’s economy could receive some UAH 1.6 billion and 8,000 additional jobs in 2019.
Ukrzaliznytsia urgently needs replacement of spare parts, first of all, those produced by the Russian Federation. Therefore, we are coming up with a proposal to national manufacturers – to create an alternative to the products of the aggressor country. As an example: in 2019, the company needs 230 positions of these spare parts – this is 575,000 units and UAH 1.6 billion for the Ukrainian economy,” acting Board Chairman of Ukrzaliznytsia Yevhen Kravtsov said.
Now Ukrzaliznytsia is negotiating with the state-run electronic trading platform ProZorro.Sales to provide it with the opportunity of entering into framework agreements with suppliers for a period of three years.
“For domestic enterprises, this is better than one-time orders. Then the owners will be interested to invest in the development of their production facilities and understand the volume of products for the long term,” Kravtsov said.
In addition, next year, Ukrzaliznytsia is ready to further invest UAH 13.5 billion in addition to the level of investment in 2018. This is UAH 8.1 billion in capex and UAH 5.4 billion in current repairs.
