Official rates of banking metals from national bank as of June 22
One troy ounce=31.10 grams
PZU Ukraine Insurance Company (Kyiv) collected UAH 300.729 million in gross premiums in January-March 2022, which is 12.71% less than in the same period of 2021, Standard-Rating RA reports. , updating the company’s credit/financial stability (reliability) rating on the national scale at the level of “uaААА” based on the results of the specified period.
According to him, income from individuals of the insurer remained almost at the same level (increased by only UAH 12 thousand to UAH 208.440 million), and from reinsurers decreased by 26.55%, to UAH 6.405 million. Thus, the share of individuals in the gross premiums of the insurer increased by 8.81 percentage points to 69.31%, while the share of reinsurers decreased to 2.13%.
Insurance payments sent to reinsurers for the first quarter of 2022 compared to the same period in 2021 decreased by 50.26%, to UAH 71.651 million. Thus, the coefficient of participation of reinsurance companies in insurance premiums decreased by 17.98 percentage points, to 23.83%.
The insurer’s net premiums increased by 14.28% to UAH 229.078 million, while earned insurance premiums increased by 34.89% to UAH 272.931 million.
During the reporting period, the company paid out UAH 183.737 million to its customers, which is 32.95% higher than the volume of insurance payments and indemnities made in the same period a year earlier. Thus, the level of payments increased from 40.12% to 61.1%, or by 20.98 percentage points.
According to the results of January-March of this year, IC “PZU Ukraine” received a net profit of UAH 25.352 million, which is 3.42 times higher than in the first quarter of last year.
As of March 31, 2022, the company’s assets decreased by 6.32%, to UAH 2.670 billion, equity increased by 0.49%, to UAH 829.536 million, liabilities decreased by 9.10%, to UAH 1.841 billion, cash and their equivalents increased by 154.96% to UAH 278.220 million.
Thus, as of the beginning of the second quarter of 2022, the company had a sufficient level of capitalization (45.06%), and 15.11% of its liabilities were covered by cash. At the same time, as of the reporting date, the company made financial investments in the amount of UAH 383.148 million, consisting of government bonds (73.01% of the investment portfolio) and deposits in banks with an investment grade credit rating (26.99% of the portfolio), which had a positive effect on its provision with liquid assets, the agency notes.
According to the report, IC PZU Ukraine has the support of one of the largest insurance groups in Central and Eastern Europe – PZU Group (which includes the parent company PZU PZU Ukraine – PZU S.A.).
Lawyers are looking for mechanisms to guarantee compensation for the losses inflicted by the aggressor on Ukrainian business, according to the results of a poll conducted by Interfax-Ukraine.
“The topic of losses and compensation is one of the most relevant among business and the legal community. Now, there is not a single guaranteed algorithm or tool for obtaining such compensation. Actually, not only Ukraine, but the whole world, for the first time in the last few decades, met with such a large-scale military conflict,” partner at Sayenko Kharenko law firm Olena Sukmanova said.
In her opinion, there may be two sources of such compensation in the future. In particular, these are compensations that can be paid to citizens and businesses by the Ukrainian state on the basis of specially adopted regulations, and compensations based on decisions of international or Ukrainian courts.
“In both cases, especially for businesses, it is very important to have enough evidence of damage and its causes,” the lawyer said.
In turn, Hleb Bialy, partner at Asters law firm, said that there is still no clear sequence of actions to record losses.
In particular, the procedure for determining the damage and damage caused to Ukraine due to the armed aggression of the Russian Federation, approved on March 22 by the Cabinet of Ministers, contains a definition of the concept of losses for individuals and legal entities, the state, as well as a list of types of damage in 18 areas, but does not regulate the issue of sequence actions to record them.
“Each case of damage can be unique depending on the nature and extent of the damage, the activities of the enterprise, etc. That is why it is very difficult to talk about a single clear algorithm of actions for recording them,” Bialy said.
He conditionally divided the sequence of recording the damage into three separate blocks: the state before the injury, the circumstances of the injury and the state after the injury.
Bialy advises, in case of damage, to record it as early as possible and as detailed as possible, indicating the source of evidence and information about the person who recorded it, to carry out the proper identification of witnesses, and also to trace the chain of evidence owners from the moment they are received to the moment they are submitted to the competent authority.
In addition, the lawyer recommends ensuring the authenticity of the evidence, not changing the evidence after it has been recorded, and taking care of the security of the evidence, providing for the creation of backup copies of it.
Bialy said that Ukrainian legislation lacks a clearly defined methodology for recording losses for intangible assets, as well as intellectual property.
“In our opinion, the best option for recording such losses may be to carry out actions that are usually performed when considering litigation – this may be an examination in the relevant areas or an independent assessment, etc.,” he said.
For their part, the experts of the law company Ri Group also said that a detailed and complete list and description of the damaged destroyed property will significantly speed up and facilitate the procedure for compensating for damages. In addition, they recommend collecting title documents for the property and making copies of them.
“You should not count on a projectile, bomb or rocket to bypass you. The enemy is acting insidiously and directs his aggression precisely at the civilian population. First of all, we advise you to collect title documents for property right now, as well as find checks, receipts, warranty certificates for household appliances, equipment, furniture, etc., make copies of them. It is better to keep all documents in one place with you,” Ri Group said.
The company believes that a detailed description with video and photography of real estate, vehicles, etc., to record the current state of the property, can be useful in establishing the market value of the property in the event of its destruction and will facilitate its assessment by an expert appraiser.
Lawyers of Ri Group advise in case of damage to property from enemy shelling, call the employees of the State Emergency Service to eliminate the consequences and draw up an appropriate act, get a copy of it, file a complaint about the crime with law enforcement agencies, providing evidence of property destruction, and get an extract from the unified register of pretrial investigations.
If the local administration is working, file an application for drawing up an act of inspection of housing and / or draw up an act of destruction on your own with neighbors and make photo and video recording of the destruction.
As reported, Gennady Borisichev, the founder of the Konkor law firm, believes that business should not only talk about compensation for the damage caused to it as a result of the Russian aggression, but also about compensation for all the damage caused. The lawyer drew attention to the fact that when assessing damage, it is necessary to follow government decree No. 326 of March 20, which establishes the procedure for determining the damage and damage caused to Ukraine as a result of the armed aggression of the Russian Federation.
The lawyer emphasized that in the near future it is expected to adopt an appropriate methodology for assessing harm and approving acts to fix it.
In addition, he noted the need for a correct legal characterization of the actions resulting in damage, as this would affect the prospects for redress.
“War is not an ‘event’ such as a natural disaster or accident, nor is it a private conflict that results in harm. Business harm is just one of those severe consequences of war. Which, in turn, entitles a business to receive the status of the victim. That is, the use of such a legal approach allows us to involve the law enforcement agencies of the state in fixing the damage. This method of fixing the damage when assessing evidence both in Ukraine and in foreign jurisdictions will have certain advantages and allows you to attract the state to the side of the victim, “the lawyer explained .
Borisichev also stressed that the problem of compensation for damages caused by Russian aggression is not a common well-established practice for law firms, and there is no mechanism for enforcing decisions on claims for damages against the Russian Federation.
ASTERS, BIALY, COMPENSATION, DAMAGES CAUSED, SAYENKO KHARENKO, БОРИСИЧЕВ, КОНКОР, СУКМАНОВА
Ukraine may need up to EUR1 trillion in foreign aid to repair the damage caused by the Russian invasion, Bloomberg reports the words of the head of the European Investment Bank, Werner Hoyer, at a press conference in Frankfurt on Tuesday.
“I put (estimate) a trillion because I saw numbers in the public space that I consider completely unrealistic when I see the level of destruction in Ukraine,” Hoyer said.
In his opinion, Europe will have to play the biggest role in these efforts.
The head of the EIB also said that he is currently trying to redistribute the bank’s liabilities in the amount of EUR1 to EUR1.5 billion to restore Ukraine. According to him, the corresponding approval can be obtained as early as this week.
Prime Minister of Ukraine Denys Shmygal, in an interview with Interfax-Ukraine at the end of March, also said that Ukraine’s losses from Russia’s full-scale military aggression, taking into account both the destruction already inflicted on infrastructure and the economy, and future losses in subsequent years, exceed $1 trillion.
According to him, its first component is direct infrastructure damage, which at that time was estimated at about $120 billion, and taking into account military infrastructure and other civilian expenses, more than $270 billion.
The prime minister added that the second component is the calculation of the losses of the Ukrainian economy: the fall in GDP during the war, lost profits and investments – more than $ 290 billion, and the third – the losses received by the state as a result of a decrease in GDP in the future.
According to the State Statistics Service, in 2021, Ukraine’s GDP grew by 3.4% after a 3.8% decline in 2020, its nominal volume amounted to about $200 billion. This year, the fall in GDP is predicted by various experts in the range of 30-45%.
President of Ukraine Volodymyr Zelensky on Tuesday signed the law on ratification of the Istanbul Convention, adopted by Parliament on Monday.
“Signed! The Law on the ratification of the Istanbul Convention. Its main content is simple, but extremely important. This is an obligation to protect women from violence and various forms of discrimination,” the head of state wrote on Facebook on Tuesday.
The Cabinet of Ministers of Ukraine, within the framework of the new eWork project, approved the procedure for providing non-refundable micro-grants for the development or creation of new horticulture, berry growing, viticulture and greenhouse facilities.
The government adopted the relevant resolution at a meeting on Tuesday, Prime Minister of Ukraine Denys Shmyhal said on his Telegram channel.
Program participants can be private entrepreneurs, agricultural companies and farms that own or lease land for a period of at least 25 years.
Thus, the amount of microgrants issued under the program of partial compensation for the cost of constructed greenhouses will be from UAH 5 to 7 million. Also, farmers will be provided with UAH 300,000 to 400,000 per hectare of orchards, which corresponds to approximately 70% of the average cost of planting them.
“The funds will go to the recipient’s bank account for the transparent purchase of seedlings, equipment, irrigation systems, fertilizers, etc.,” the prime minister summed up in the message.
