The volume of premiums received by Vienna Insurance Group (VIG) in 2018 amounted to EUR9.7 billion, which is 3% more than a year before, and pretax profit was EUR485 million (up by 10%), according to the website of Globus insurer (Kyiv), part of the group. According to the report, the combined ratio at the end of last year was 96% (a decrease of 0.7 percentage points), the solvency ratio stood at 239% (an increase of 19 percentage points), while financial result was EUR1.037 billion (12% more).
The report also notes that the group intends to use its high capitalization for further growth. VIG’s supervisory board approved the board’s proposal to increase dividends from EUR0.90 to EUR1 per share.
As reported, Vienna Insurance Group in Ukraine is represented by four insurance companies: Globus, Ukrainian Insurance Group, Kniazha Vienna Insurance Group and Kniazha Life Vienna Insurance Group.
The Verkhovna Rada has ratified an agreement between the governments of Ukraine and France regarding the official support of a project on supply of drinking water to the city of Mariupol (Donetsk region). An Interfax-Ukraine correspondent has reported that a total of 258 lawmakers backed the agreement. According to the Framework Agreement, the French side provides Ukraine with a loan in an amount not exceeding EUR 64 million for the project on supply of drinking water to Mariupol.
The agreement also provides for the development of a master plan for improving the water supply and drainage system of Mariupol until 2040.
According to an explanatory note to the bill on ratification, the project will include the construction and launch of modern filtering stations in Mariupol, as well as the modernization of the existing centralized water supply pipelines and drainage system to reduce the consumption of drinking water and discharge of sewage into the environment.
Sugar production in Ukraine in the new season could fall by 23-29%, to 1.3-1.4 million tonnes, and the number of sugar refineries from 42 operating this season to 343-35, the Ukrtsukor national association of sugar producers has said.
“We are already seeing a reduction in the acreage of sugar beet this year and, of course, it will have its own “imprint” this autumn, when significantly fewer sugar refineries are launched compared with the 2018/2019 season. According to our estimates, it will be 34-35 enterprises, while in the current season 42 refineries worked,” Deputy Chairperson of the association Ruslana Butylo said.
According to her, given the reduction in acreage and the number of operating refineries, caused by the global sugar surplus, a significant reduction in sugar production and price hikes are predicted.
“The global surplus of recent years has not had the best effect on the state of sugar production in Ukraine. Excess sugar “pressed” on prices and lowered them more and more, far beyond the break-even point of production, diluting all financial reserves of producers, both in the world and in Ukraine. At the moment, it is rather difficult to predict the yield and sugar content of beets, the sowing of which is almost completed. However, we can assume that sugar will be 23-29% less this autumn – 1.3-1.4 million tonnes. This is the lowest amount of production since 2013,” Butylo said.
The volume of construction work performed in Ukraine in March 2019 increased by 29.7% compared with March 2018, while the indicator in February 2019 compared with February 2018 grew by 19.4%, according to statistics.
The State Statistics Service said that the data are given excluding the occupied territory of Crimea and the temporarily uncontrolled territories in Donetsk and Luhansk regions.
According to the agency, the volume of construction work performed in March 2019 increased by 3% compared with February 2019.
According to the report, in March 2019 compared with March 2018 the volume of construction work decreased in residential construction – by 14.9%.
Nonresidential construction in March 2019 rose by 47.2% and in engineering – by 54.1%.
In March 2019 compared with February 2019, the volume of residential construction grew by 15%, nonresidential construction by 32.1%, and in engineering it grew by 37.7%.
Production of natural gas in Ukraine in January-April 2019 increased 3.6% or by 245.1 million cubic meters (mcm) year-over-year, to 7.016 billion cubic meters (bcm), according to a preliminary report of JSC Ukrtransgaz. According to the calculations of Interfax-Ukraine, gas production by JSC Ukrgazvydobuvannia amounted to 5.14 bcm (2.7% more from January-April 2018), PJSC Ukrnafta to 382.9 mcm (11.2% more), other companies to 1.493 bcm (5% up).
In April 2019, gas production amounted to 1.741 bcm (4.3% up from April 2018), in particular production by Ukrgazvydobuvannia amounted to 1.272 bcm (2.5% more), Ukrnafta to 93.7 mcm (12.9% up), and other companies to 375.9 mcm (8.5% up).
The European Bank for Reconstruction and Development (EBRD) intends to consider granting a loan in the amount of EUR7 million to Energopark Yavoriv LLC for the construction of the second stage of Yavoriv solar power plant with a capacity of 36 MW.
According to the website of the bank, a meeting of the board of directors on the issue of the loan is scheduled for June 5.
“The project is developed under the EBRD Ukraine Sustainable Energy Lending Facility III (USELF III), a EUR 250 million framework to support renewable energy in Ukraine,” the report reads.
“The project consists of the development, construction and operation of the second phase for 36MWp of a 72MWp solar PV project located near the town of Ternovytsia in Lviv region,” it says.
Eco-Optima manages a park of solar plants and wind power plants, some of which are built using EBRD loan funds. The company commissioned two phases of a wind plant of 34 MW in Stary Sambir in Lviv region. The project was implemented with the funds from the EBRD and the World Bank’s Clean Technology Fund.
