Trade between Ukraine and Poland amounted to $11.7 billion in 2024, of which Poland exported almost $7 billion to Ukraine and imported $4.6 billion worth of Ukrainian goods, Minister of Agrarian Policy and Food Vitaliy Koval said following the results of the Polish-Ukrainian dialogue.
According to him, the event was attended by representatives of Polish business, including Orlen and Anwil, with whom they discussed cooperation in the field of fertilizers and bioethanol development.
The minister said that Ukraine imports a total of 1.5 million tons of diesel fuel and gasoline from Poland and $354 million worth of mineral fertilizers.
“All these imports make up a large part of Ukrainian agricultural products. For example, to grow a ton of Ukrainian corn, we need to import 75% of the ingredients. That is, the profitability of international companies, including Polish ones, depends on the success of Ukrainian farmers,” the minister wrote on Telegram.
Koval expressed his belief in the importance of a dialogue between Ukrainian and Polish businesses. It should be based on numbers, cold reason, and mutually beneficial cooperation: the better Ukraine’s agricultural sector develops, the more benefits there will be for the Polish side and vice versa.
Kowal called on Polish businesses to invest in Ukraine’s agro-processing industry, which needs to increase the added value of its products.
“We appreciate the friends who were with us when it was hard, and these friends will be with us when it is easy. And it will be easy soon, because the darkest time is before dawn… We just need to endure. That is why he urged us to find common ground. After all, Ukraine is not a threat, Ukraine is a partner for moving forward,” summarized the Minister of Agrarian Policy.
“Kernel, one of Ukraine’s largest agricultural holdings, intends to strategically adjust its crop mix for the 2025 harvest during the spring sowing campaign to align with its more sustainable practices that were maintained before the full-scale war in Ukraine.
According to the quarterly report published on the company’s website on Friday, Kernel plans to allocate about 168 thousand hectares for corn, which is twice as much as in the 2024 season and will account for 49% of its total production area.
At the same time, the agroholding plans to reduce sunflower acreage by 34%, to 44 thou hectares (or 13% of the crop structure). The agricultural holding explained this decision by further optimizing land use and restoring long-term agronomic sustainability.
“In 2025, Kernel will also reduce its soybean acreage to 27 thou hectares, while a year earlier it had 72 thou hectares under soybeans.
“As of the date of the report, winter crops – including 95 thou hectares of winter wheat and 3.45 thou hectares of rapeseed – are in generally good condition, with no significant risks beyond the usual seasonal factors at this stage,” the agricultural holding summarized.
Kernel is the world’s largest exporter of sunflower oil, one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
In FY2024, Kernel’s net profit decreased by 44% compared to FY2023 to $167.95 million, while revenue increased by 4% to $3.581 billion and EBITDA decreased by 30% to $381 million.
In 2024, the State Enterprise (SE) Ukrainian Sea Ports Authority (USPA) increased its revenue by 39% to UAH 5.56 billion, according to the SE’s report.
“In 2024, the Ukrainian Sea Ports Authority continued to perform its functions in difficult wartime conditions. The company managed to ensure the stable operation of the port infrastructure, which was reflected in its financial performance. Revenues grew by 39% compared to the planned, and net income by 28%,” USPA said in a Facebook post on Monday.
It is reported that the net financial result exceeded expectations by 2.6 times. Cargo turnover amounted to 97.2 million tons.
In 2024, USPA transferred more than UAH 4 billion to the state and local budgets, of which UAH 339 million was allocated to local budgets and UAH 361 million to the single contribution to compulsory state social insurance, the press service of the state-owned enterprise reported.
Earlier it was reported that according to the assessment of the financial condition and stress testing of the largest Ukrainian state-owned enterprises prepared by the Ministry of Finance of Ukraine, in 2023, USPA’s profitability improved due to an increase in revenues to UAH 4 billion, compared to UAH 3.3 billion in 2022. Against the backdrop of stable port operations, in 2023 it earned a net profit of UAH 850.4 thousand against a loss of UAH 494.2 thousand in the previous year and is projected to be profitable in the five-year perspective.
USPA is responsible for the operation and development of seaport infrastructure, management and safety of navigation. The company is state-owned and belongs to the Ministry of Infrastructure. USPA is financed by port dues, fees for services subject to state regulation, rent and other sources not prohibited by law.
In 2024, Universalna Insurance Company (Kyiv) collected UAH 2.535 billion in gross insurance premiums, which is 26.43% more than in 2023, according to the website of the Standard Rating agency.
The agency has updated the credit rating/financial strength (reliability) rating of Universalna Insurance Company at uaAAA on the national scale based on the analysis of its performance for the specified period.
According to the published data, revenues from individuals increased by 25.78% to UAH 1.139 billion, and from reinsurers – by 3.88 times (by UAH 6.521 million) to UAH 8.788 million.
In 2024, insurance payments sent to reinsurers decreased by 15.76% compared to the same period in 2023, to UAH 96.077 million. Thus, the ratio of reinsurers’ participation in insurance premiums decreased by 1.90 p.p. to 3.79%.
The insurer’s net written premiums increased by 28.97% to UAH 2.439 billion, and net earned premiums showed an increase of 30.00% to UAH 2.191 billion.
Last year, the insurer paid out UAH 844.679 million in claims, up 20.63% year-on-year. The claims ratio decreased by 1.60 percentage points to 33.32%.
In 2024, the insurer’s operating profit increased by 2.11 times to UAH 221.595 million compared to 2023, and net profit increased by 64.64% to UAH 233.858 million.
As of January 1, 2025, the company’s assets increased by 31.95% to UAH 1.941 billion, equity showed an increase of 31.59% to UAH 974.238 million, liabilities increased by 32.32% to UAH 967.175 million, cash and cash equivalents increased 3.34 times to UAH 575.677 million.
In addition, it is reported that the insurer’s equity exceeded its liabilities by 0.73%.
“Universalna” has formed a portfolio of current financial investments from liquid instruments in the amount of UAH 1.203 billion, which consisted of bank deposits (UAH 928.528 million) and government bonds (UAH 274.127 million). Thus, as of the beginning of 2025, cash and cash equivalents covered 59.52% of the company’s liabilities, and liquid assets (cash, bank deposits and government bonds) exceeded the insurer’s liabilities by 1.84 times.
Export changes in % to previous period in 2023-2024
Source: Open4Business.com.ua
INGO Insurance Company has paid UAH 20 mln to Irpen-Budproekt-Plus LLC, which belongs to Dragon Capital group companies, under the contract of comprehensive insurance of legal entities’ property with coverage of military risks.
According to the insurer’s information, the office complex with underground parking with the area of 10629,9 sq. m., located in Kyiv at 98 Bolshaya Vasilkovskaya Street, was damaged on December 20, 2024 as a result of the aggressor’s air attack on the capital. As a result of the falling debris of the missile, the upper floors ceilings, external and internal finishing of the premises, the facade of the building and engineering communications were damaged. The accident was qualified as insured.
According to Alexander Kolpakov, Head of Property Losses Settlement Department of IC INGO, the company’s specialists drew up the case materials as quickly as possible, coordinated with the relevant departments and sent it for payment. It took 7 calendar days for actual payment to the client’s bank account.
It is also reported that reinsurance of 50% of risks was provided by Oranta, for which property insurance against military risks is still a new direction.
“But now this direction is a critical tool for business protection in Ukraine. Therefore, we will continue to support insurers, providing them with financial stability in difficult conditions”, – said the Chairman of the Board of ‘Oranta’ Incorporated Jacek Meizner.
The company “Dorada Partners Insurance Brokers” was engaged in the support of the insured object.
Over the last two years INGO has insured more than 5 thousand private objects, more than 2 thousand transportations, thousands of cars and several hundred objects of legal entities against war risks.
INGO Insurance Company JSC holds licenses for 18 classes of insurance and has been providing insurance services to both individuals and companies for 30 years. Its network covers 25 branches, 5 outlets and 9 customer service centers operating in all regions of the country. The company is among the largest insurance companies in Ukraine in terms of premiums, the size of its own assets and the amount of insurance claims paid.
Since 2017, the main shareholder is the Ukrainian business group DCH.
Dragon Capital is one of the largest investors in commercial real estate in Ukraine. The company’s portfolio includes 25 objects with a total area of 560 thousand sq. m., including business centers, warehouses and retail real estate.
