Insurance companies of Ukraine in January-March 2020 paid insurance premiums in the amount of UAH 2.78 billion under insurance risk reinsurance contracts, which is 37.4% or UAH 1.66 billion less than in the same period in 2019, member of the National Commission for the State Regulation of Financial Services Markets Oleksandr Zaletov has told Interfax-Ukraine.
According to him, despite the fact that in the first quarter of 2020, net insurance premiums compared to the same period in 2019 increased by a mere 1.8%, to UAH 9.85 billion, the situation in the reinsurance market has changed.
Firstly, cooperation with international reinsurers has intensified. So non-resident reinsurers were paid UAH 884 million, which is 12.6% or UAH 98.9 million more than in the same period in 2019 (UAH 785.3 million for the first quarter of 2019). In the first quarter of 2020, as before, predominantly reinsurance is carried out in the member countries of the Organization for Economic Cooperation and Development (OECD). The most actively cooperating with Ukraine in the field of reinsurance were insurers and specialized reinsurers from Germany, which accounted for 19.7% of the premiums in this segment, as well as Austria (19.4%), the UK (14.6%), and Poland (12.4%), France (7.2%), Switzerland (5.6%), Italy (3.9%), the Czech Republic (3.8%), the United States (3%) and Belgium (2.4%), and the rest accounted for less than 2%.
In January-March 2020, non-resident reinsurers made insurance payments in the amount of UAH 473 million, which is 62.2% or UAH 181 million more than in the same period in 2019 (UAH 292 million for the first quarter of 2019). A significant share was held by reinsurers from the Czech Republic (31.2%), Germany (24.3%), Poland (17.6%), Great Britain (9%), Austria (7.6%), France (2.4%), and Italy (2.4%), the rest less than 2%.
Secondly, there were significant reductions in operations in the domestic reinsurance market. So, in the first quarter of 2020, resident reinsurers were paid insurance premiums in the amount of UAH 1.89 billion, which is 48.3% less compared to the same period in 2019 (UAH 3.65 billion for the first quarter of 2019).
Ukraine International Airlines (UIA) has operated 45 special cargo flights after closing regular flights by the end of May. The company’s press service said on Wednesday that some 870 tonnes of medical supplies were carried by these flights.
“Flights were operated on medium and long haul aircraft. In a loose layout, subject to partial dismantling of passenger seats, about 110 cubic meters of cargo can be carried together on board of Boeing 737 aircraft, and about 190 cubic meters of cargo can be carried on board of Boeing 767,” the airline said.
Darnitsa pharmaceutical company has suspended a project for the production of hydroxychloroquine for the treatment of COVID-19.
Аccording to the press service of the company, the company came to such a decision by tracking reputable medical studies regarding the effectiveness of hydroxychloroquine in the treatment of COVID-19. In particular, as of May 26, some 201 studies of the use of hydroxychloroquine for the treatment of COVID-19 were recorded, of which five were completed.
The company notes that the published clinical trial materials have not confirmed the benefits of using the experimental drug ‘hydroxychloroquine’ for patients with COVID-19.
“The safety of patients and scientific feasibility is an absolute priority for the company. Therefore, taking into account the world scientific thought, the company suspended the project for the production of hydroxychloroquine for the treatment of COVID-19,” Darnitsa said.
The company reminds that Darnitsa had launched the project to prepare for the production of hydroxychloroquine in March 2020, when Chinese treatment protocols and publications in authoritative sources about the effectiveness of this drug for the treatment of COVID-19 appeared. These data gave reason to include hydroxychloroquine in the protocols of experimental treatment of COVID-19 in many countries of the world, in particular in Ukraine, the United States and in European countries.
“At the same time, Darnitsa received numerous requests from Ukrainian doctors and patients asking for the opportunity to use the drug for treating coronavirus infection, since this therapy was considered by the medical community as potentially effective. Considering the scientific data and the medical community’s requests, Darnitsa started a project for the production of hydroxychloroquine preparations exclusively for the needs of medical institutions in the treatment of COVID-19,” the company’s press service said.
Darnitsa pharmaceutical company was founded in 1930. It is one of the ten largest pharmaceutical manufacturers in Ukraine and the top ten largest hospital suppliers. The strategic directions of the portfolio development are cardiology, neurology and solutions to pain problems.
Acting President of National Nuclear Generating Company Energoatom Petro Kotin announced an unprecedented restriction of nuclear energy generation on May 27.
“Today, the restrictions imposed on us by the government in electricity generation have fallen to historic lows, namely, to 6.63 GW from 9.49 GW available,” he wrote on Facebook on Wednesday through the Energy Reform Internet portal.
Kotin is confident that this “is unlikely to contribute to solving the financial issues of the company and the stability of the country’s power market.”
According to the data on the company’s website, on May 27, some 10 out of 15 power units of Ukrainian nuclear plants were in operation.
The Cabinet of Ministers at a meeting on May 27 approved a memorandum with Louisiana Natural Gas Exports on possible LNG supplies from the United States to Ukraine and the development of gas infrastructure with Poland. “The Ministry of Energy and Environment Protection has worked out a draft memorandum of cooperation between Louisiana Natural Gas Exports and the Cabinet of Ministers of Ukraine on facilitating gas supplies to Ukraine and improving gas infrastructure, which provides for exploring the possibility of diversifying natural gas supply routes by ensuring long-term supplies of liquefied natural gas and developing cross-border gas infrastructure in Ukraine and the EU,” Olha Buslavets, the acting Minister of Energy and Environment Protection, said.
According to data released by MP Oleksiy Honcharenko (the European Solidarity faction) on Telegram, the document provides for an annual LNG supply of about 5.5 billion cubic meters, and its price will be determined in accordance with the prices on the American gas exchange Henry Hub.
The memorandum, in particular, provides for the construction of a new gas pipeline between the gas hub Hermanowice (Poland) and the Bilche-Volytsko UGS facility. Project funding may include support of certain U.S. and European government agencies.
Final agreements may include a long-term agreement for the supply of LNG from the United States to Ukraine, an agreement on gas storage in Ukrainian underground gas storage facilities, an agreement on the construction and operation of necessary infrastructure between Poland and Ukraine.
