In Ukraine, there is a growing misunderstanding of the real cost of loans due to the fact that the real annual interest rate (RAR) sometimes reaches more than 3,600%. At first glance, this is a real shock for consumers who are used to seeing advertisements with the offer of “1% per day” and expecting about 365% per annum.
Sergiy Sinchenko, a financial expert and CEO of Moneyveo, wrote about this in his blog, explaining the reasons for this gap between customer expectations and official figures.
The main difficulty lies in the formula for calculating the PPI, approved by the National Bank Resolution No. 16. It is based on the XIRR method, a complex financial function that takes into account each payment, the date of its execution, and the reinvestment effect. As a result, even simple loans with an interest rate of 1% per day yield a formal rate of over 3,600% per annum.
“The formula is mathematically correct, but not easy for an average consumer to understand,” Sinchenko says. “It simulates compound interest, as if the lender reinvests every payment received. This makes the effective rate look gigantic, even though the client is actually paying a simple interest rate.”
The paradox is that companies that operate transparently, without hidden fees and additional charges, often have a higher APR due to an objective methodology. Meanwhile, companies with numerous small payments may show lower official rates, but the actual costs to customers are higher.
The expert suggests keeping the RRPS tool, but simplifying its presentation for consumers. In particular, he recommends using a more intuitive calculation for simple loans, which would reflect the percentage of total loan costs without complex capitalization.
Such changes will help make the lending market more transparent and understandable, increase customer confidence, and promote healthy competition.
Interchem Pharmaceutical Company has joined the initiative “Boriviter. Restoration” initiative, a large-scale art project to preserve cultural memory, in which 15 artists recreated the mosaic of Alla Gorska’s Sixty Saints in Mariupol, which was probably destroyed by Russian shelling.
According to the company in a press release, the symbolic part of the new panel, the head of the legendary bird, became a sign of InterChem’s participation in the initiative – the company will keep it as a talisman of invincibility and freedom.
“We joined this project not only as philanthropists, but first and foremost as Ukrainians who care about their heritage. We don’t know if the original of this magnificent mosaic has survived, but we will make every effort to preserve what it symbolized: the thirst for freedom and the strength for revival,” commented Anatoliy Reder, CEO of the company.
Participation in the initiative to restore cultural heritage has become another opportunity for Interchem to support the state and citizens of Ukraine in times of war. Since the first days of the full-scale invasion, the company has focused its efforts on helping the military, medics, IDPs and regions affected by the hostilities. In total, since the beginning of 2022, InterChem has donated over UAH 250 million to charity.
The key areas of the company’s charitable activities include the provision of medicines, the purchase of machinery and equipment for military units, and support for humanitarian initiatives. The company donated almost UAH 70 million worth of medicines and medical devices to the Ministry of Defense, the National Police, hospitals, orphanages and communities affected by the war. At the initiative of InterChem, mobile shelters were installed in Mykolaiv, Kherson, Chernihiv, and Odesa, and the company financed the purchase of marine drones, warning systems, and evacuation medevacs as part of United24 projects.
The company provides ongoing assistance to more than 40 combat units of the Armed Forces of Ukraine, and pays special attention to supporting air defense forces. “Interchem financed the creation of the RPS-7 Inhul electronic intelligence station, provided FPV drones for the Defence Intelligence of Ukraine, Deltaquad Pro UAVs for the Armed Forces of Ukraine, night sights and night vision devices for air defense and naval units, etc. In general, since the beginning of the full-scale invasion, Interchem has donated dozens of powerful motor boats, hundreds of unmanned aerial and ground vehicles, vehicles, including evacuation and reanimation vehicles, equipment for mobile air defense groups, searchlights and electronic warfare systems to the Defense Forces.
“As a pharmaceutical company, INTERCHEM is a strategic part of the national healthcare system. And as a responsible Ukrainian business, we are a strategic part of the resistance to the Russian invasion. Both of these roles complement each other; by supporting the army, we contribute to the security of citizens, and by taking care of citizens, we help to form a strong home front for our defenders,” emphasized Reder.
Currently, InterChem is committed to strategic charity and systematic support of foundations, NGOs, schools, hospitals and cultural institutions. Among the partners and beneficiaries of the company’s initiatives are United24, Ukraine WOW, Monster Corporation, South Wind, Prytula Foundation, Technari, Road Home, Red Cross, Federation of Jewish Communities of Southern Ukraine, Odesa Opera House and dozens of others.
Source: https://interfax.com.ua/news/general/1082680.html
Insurance company “Quorum” (Kyiv) in January-March 2025 collected insurance premiums in the amount of UAH 17.07 million, which is 35.6% more than in the same period of 2024, the rating agency (RA) “Standard-Rating” reported in information on updating the credit rating / financial strength rating of the company on the national scale at the level of “uaAA”.
The agency clarified that it updated the rating based on an analysis of the company’s performance for the specified reporting period.
The insurance company’s revenues from individuals increased by 34.96% to UAH 10.5 million over the year, while there were no revenues from reinsurers. The share of individuals in gross premiums in the first quarter amounted to 61.51%.
Insurance payments sent to reinsurers amounted to UAH 3 million, which is 30.1% less than in the same period of 2024. Thus, the ratio of reinsurers’ participation in insurance premiums decreased by 16.54 percentage points (p.p.) to 17.62%.
The insurer’s net written premiums increased by 69.66% to UAH 14.063 million, and net earned premiums increased by 70.43% to UAH 13.972 million.
The volume of insurance payments and reimbursements made by Quorum Insurance Company in January-March 2025 increased by 54.89% to UAH 2.328 million compared to the same period last year. Thus, the payout ratio increased by 1.7 percentage points to 13.64%.
The company’s operations in this period were profitable. In particular, the profit from operating activities amounted to UAH 1,605 million, and net profit – UAH 1,263 million.
As of April 1, 2025, the company’s assets increased by 0.73% to UAH 70.405 million, equity – by 2.06% to UAH 62.683 million, and liabilities decreased by 8.88% to UAH 7.722 million, while cash and cash equivalents increased by 3.42% to UAH 51.559 million.
Quorum Insurance was established in March 2014 and specializes in risk insurance.
In 2024, the elevators of the IMC agricultural holding shipped a record volume of grain – more than 1.1 million tons, in January-June 2025, they completed the shipment of the remaining crop of 2024 and carried out preparatory work for the reception of the new harvest, the press service of the agricultural holding reported on Facebook.
The agricultural holding noted that in recent years, several projects have been implemented at IMC elevators as part of the Smart Green Strategy, in particular in the use of green energy.
“Four of IMC’s elevators have already been equipped with solar panels, and installation is underway at two more facilities, which will cover the demand for electricity from green sources for office buildings and critical infrastructure of elevators. This also contributes to the energy independence of the elevators and the continuous production process despite possible interruptions in electricity supply due to Russian shelling of Ukraine’s energy system,” IMC said.
In addition, two of IMC’s elevators and three grain drying complexes have installed heat generators that run on sunflower pellets and grain waste, which allows replacing natural gas with biofuel for the grain drying process.
“This year’s scheduled repairs at IMC’s elevators are already at the completion stage. We are currently disinfecting the production facilities. IMC elevators are ready to accept the new winter wheat harvest,” emphasized Andriy Havrylenko, Deputy CEO of IMC for Grain Storage and Processing.
IMC Agro Holding is an integrated group of companies operating in Sumy, Poltava and Chernihiv regions (north and center of Ukraine) in the crop production, elevators and warehouses segments. The land bank is 116 thousand hectares, storage capacity is 554 thousand tons, with a harvest of 864 thousand tons in 2024.
IMC ended 2024 with a net profit of $54.54 million against a net loss of $21.03 million in 2023. Revenue increased by 52% to $211.29 million, gross profit quadrupled to $109.10 million, and normalized EBITDA increased 25 times to $86.11 million.
In January-May 2025, Express Insurance (Kyiv) collected insurance premiums in the amount of UAH 462.5 million, which is 32.1% more than in the same period in 2024, according to the insurer’s website.
Premiums under hull insurance contracts for this period amounted to UAH 313.5 million, which is UAH 35.9 million, or 12.9% more than in January-May 2024, for MTPL – UAH 137.9 million (+76.8%), for other types of insurance – UAH 11.1 million.
The company reports that in January-May 2025, the total amount of insurance claims for insured events amounted to UAH 182 million, including payments to customers with motor hull insurance – UAH 144.2 million, and to victims of motor TPL insurance – UAH 34.8 million.
Express Insurance was founded in 2008 and is part of the UkrAVTO group of companies. The company specializes in motor insurance. The consistently high speed of claims settlement in the IC is ensured by optimal interaction with partner service stations.
Since April 2012, Express Insurance has been an associate member of the Motor Transport Insurance Bureau of Ukraine.
INGO Insurance Company has paid UAH 3.4 million for a spoiled batch of frozen chicken products that was transported from Europe to Ukraine, the company’s website reports.
It is noted that the payment was made under a motor carrier liability insurance contract. The policy provided coverage for the risks of loss or damage to cargo.
The accident occurred during the transportation of 20 tons of frozen chicken products from Europe to Ukraine. The cargo was transported in a refrigerator at a temperature of -18°C. In Poland, the vehicle slid into a ditch and overturned. According to the police, the driver did not take into account the road conditions when making a turn.
The accident resulted in the breakdown of the refrigerator, which caused a temperature violation and damage to the cargo packaging. The carrier organized the loading of the products into another vehicle, but the warm weather caused them to defrost.
The insurance contract was concluded with the participation of Aon, one of the leading international insurance brokers. Aon helped to structure the optimal insurance solution, taking into account the specifics of international transportation and cargo safety requirements, the press release said.
INGO Insurance Company has been providing insurance services for 30 years. Since 2017, the main shareholder has been the Ukrainian business group DCH.
