Insurance company “Universalna” (Kyiv) in January-March 2022 collected UAH 205.182 million of gross insurance premiums, which is 18.53% less than in the same period a year earlier, according to the website of the Standard-Rating rating agency “.
The report also states that the agency has updated the credit/financial stability (reliability) rating of IC Universalna at uaААА on the national scale based on the analysis of work for the specified reporting period.
According to the published data, income from individuals increased by 19.54% to UAH 111.709 million, and from reinsurers, on the contrary, decreased by 46.45% to UAH 0.226 million.
Given the increase in premiums from individuals, in the first quarter of 2022, individuals dominate the company’s client portfolio. At the same time, according to the results of activities during the first three months of 2022, the largest share of premiums (more than 43%) came from voluntary land transport insurance (CASCO).
Insurance payments sent to reinsurers for the first quarter of 2022 compared to the first quarter of 2021 decreased by 72.97% to UAH 10.773 million. Thus, the coefficient of participation of reinsurers in insurance premiums decreased by 10.58 percentage points. up to 5.25%.
The insurer’s net premiums decreased by 8.29% to UAH 194.409 million, while earned premiums increased by 24.96% to UAH 275.683 million.
In the first quarter of 2022, IC Universalna paid out UAH 76.793 million to its customers, which is 6.67% lower than in the same period in 2021. Considering the high rate of reduction in gross premiums over insurance claims, the level of payments increased by 4.76 percentage points. to 37.43%.
The RA also reports that the financial result from operating activities amounted to UAH 19.335 million, which is almost three times higher than in the first quarter of 2021, and the insurer’s net profit in the period under review increased by 95.71% to UAH 9.449 million.
As of March 31, 2022, the company’s assets decreased by 7.32% to UAH 1.227 billion, equity increased by 2.37% to UAH 408.599 million, liabilities decreased by 11.50% to UAH 818.733 million, cash and equivalents decreased by 18.75% to UAH 76.799 mln.
As of April 1, 2022, IC Universalna formed a portfolio of bank deposits in the amount of UAH 437.741 million, and the insurer invested UAH 118.980 million in government bonds. Cash and cash equivalents covered 9.38% of the company’s liabilities, liquid assets (cash, bank deposits and government bonds) covered 77.38% of the insurer’s liabilities, and the Company’s equity coverage of liabilities was 49.91%.
The RA draws attention to the fact that PJSC IC Universalna has an international composition of shareholders, in particular, the European Bank for Reconstruction and Development (owns 30% of shares) and Fairfax Financial Holdings Limited (owns 70% of shares). Fairfax Financial Holdings Limited (Canada) – a holding company that, through its subsidiaries, is primarily engaged in casualty insurance, property insurance and investment management Fairfax Financial Holdings Limited.
As of the beginning of the second quarter of 2022, the holding’s consolidated assets were $88.587 billion, Fairfax’s consolidated gross business (premiums) for the first quarter of 2022 was $6.663 billion, and profit before tax for the first quarter of 2022 was $249 million.
President of the United States Joe Biden has said he had informed President of Ukraine Volodymyr Zelensky that the U.S. is providing another $1 billion in security assistance for Ukraine, the White House reported on Wednesday.
“I informed President Zelensky that the United States is providing another $1 billion in security assistance for Ukraine,” Biden said in the statement posted on the website of the White House.
Biden also said that the assistance includes “additional artillery and coastal defense weapons, as well as ammunition for the artillery and advanced rocket systems.”
The U.S. remains committed to supporting the Ukrainian people whose lives have been ripped apart by this war, Biden said.
“Today, I am also announcing an additional $225 million in humanitarian assistance to help people inside Ukraine, including by supplying safe drinking water, critical medical supplies and health care, food, shelter, and cash for families to purchase essential items,” the U.S. president said.
The Ukrainian Energy Association (UEA), together with specialists from the Institute of Oil Transportation, proposed President Zelensky, the Cabinet of Ministers and the Ministry of Energy a package of promising directions for the development of the oil refining and transportation of oil and petroleum products, which include the construction of a new modern oil refinery.
“These proposals have both a short-term and a long-term implementation period and should be included in the action plan for the post-war reconstruction and development of Ukraine,” the UEA said on its website.
In addition to the construction of the refinery, the UEA materials also present two more such key areas as the modernization and branching of the network of fuel product pipelines and the completion of oil pipeline routes to open new markets.
“All the proposed cases contain technical and financial and economic calculations, the implementation of which can begin now,” the association says.
At the same time, the UEA has not yet made public more detailed information regarding its proposals submitted to the president and government.
“Experts from the UEA and the Institute of Oil Transportation are convinced that taking into account these proposals will increase the level of Ukraine’s energy independence and send a signal to global energy companies and international financial organizations to invest in restoring Ukraine’s energy sector,” the association said.
JYSK, a chain of furniture and home goods stores, plans to open a new store in Lviv on June 16, in Chervonohrad and Rivne in July, the company’s press service has reported.
“Under any circumstances, we aim to restore the operation of all stores that worked before the outbreak of hostilities. I will say more, at the beginning of the war, a process to open seven new JYSK stores in different parts of Ukraine was launched. Despite the uncertainty of martial law, the company is already considering the possibilities on the implementation of plans to open some of them,” Yevhen Ivanitsa, Country Manager of JYSK in Ukraine, is quoted as saying.
New stores will be opened in the Fabrik shopping center in Lviv, the Maidan shopping center in Chervonohrad, and the HAPPY Mall shopping center in Rivne.
In addition, in June the company reopens a store in the Retroville shopping center in Kyiv, and in July it is planned to reopen a store in the Vostorg shopping center in Kharkiv.
Stores have been restored wherever it is safe for customers and employees, JYSK said. At the same time, significantly damaged chain stores and those located in the temporarily occupied territories do not operate.
The damage and losses of the network have not yet been calculated, but it is supposedly about tens of millions of hryvnias, the company said.
“There are completely destroyed stores in Hostomel and Kherson, there are significantly damaged stores in Odesa – in the Riviera shopping center, Kyiv – Retroville shopping center, Kharkiv – Vostorg shopping center, there are looted stores in Bucha and Melitopol, there are shops in the occupied zone – Nova Kakhovka, Melitopol, Kherson,” Ivanitsa said.
331 foreign doctors are currently officially working in Ukraine, Minister of Health Viktor Lyashko said.
On the air of the telethon on the 1+1 channel on Wednesday, he noted that these are the doctors who are officially employed and registered with the Ministry of Health.
The minister clarified that in fact there are more foreign doctors working in Ukraine, but not all of them are registered by the Ministry of Health.
The mayor of Kyiv, ex-world heavyweight boxing champion Vitali Klitschko has been awarded the prestigious Arthur Ashe Courage Award, Boxing Scene reports.
The award is presented by the American television channel ESPN to a worthy representative of the sports community for his work, which goes beyond sports and has a significant impact on the world.
“Vitaliy’s poise and strength as his city and country face unfathomable trials far exceeded the incredible determination he displayed as one of boxing’s finest heavyweight champions. His dedication to the people of Ukraine has been an inspiration to the world and his courage is a shining example of the bones of the human spirit. We are honored to present him with the Arthur Ashe Award for Courage,” said ESPN Content executive editor Rob King.
The publication emphasizes that Vitali Klitschko became a central figure in the defense of his country when Russian troops invaded Ukraine.
In turn, Klitschko noted that he perceives this award as recognition of the courage of every Ukrainian who defends his state.
“It is a great honor for me to receive this award. I am convinced that this is a recognition of the courage and inviolability of the Ukrainian people, who have courageously resisted the Russian aggressor for more than 3 months. This is an award for everyone who defends the independence and freedom of Ukraine,” he said.
The Vitali Klitschko award ceremony will take place on July 20.
The Arthur Ashe Award for Courage is one of the most distinguished, prestigious and well-known awards in sports. Previously, it was awarded to such stars and figures as Muhammad Ali, Nelson Mandela and others.
