Business news from Ukraine

Business news from Ukraine

AVERAGE PERIOD OF SETTLEMENT OF OSAGO INSURANCE CASES UP BY EIGHT DAYS

The average period of settlement of insurance claims for damage caused to property declared under compulsory insurance of civil liability of motor vehicle owners (OSAGO) in the second quarter increased by 8 days compared to the previous one and amounted to 77 days (for claims settled within 365 days), the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) reports.
The bureau also notes that the reason for this is the quarantine introduced in Ukraine in connection with the COVID-19 pandemic, which affected the work of insurers’ offices, claims settlement processes, as well as the ability of victims to promptly submit the documents necessary to receive insurance payments.
According to the MTIBU, within the framework of the direct claims settlement system, the average settlement period increased slightly, amounting to 43 days (in the first quarter of 2020 some 41 days). Despite the impact of quarantine measures, OSAGO insurers in annual terms have improved the speed of settlement: compared to the second quarter of last year, the average settlement period decreased by 2 days, and within the direct settlement system by 13 days.
In April-June 2020, within 60 days from the date of an accident 55.3% of claims were settled, up to 90 days some 69.9% of claims, and up to 120 days some 77.4% of claims.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 28/08/20

National bank of Ukraine’s official rates as of 28/08/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF AUGUST 28

Official rates of banking metals from national bank as of August 28

One troy ounce=31.10 grams

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THE PRINCELY GUERRIERS WILL FIGHT NEAR KYIV

On August, 29 and 30 the «Kyivan Rus Park» invites to the horse-trick show «The Princely druzhina». The guests will see the knightly tournaments, the Princely hunt, horse-trick performances, will take part in the ancient Slavic amusements, rites, fiery round dances and master-classes. Also the guests will be awaited by the walks on horseback, tasty dishes prepared on open fire, master classes and many more from the life of the medieval city.
Ancient Kyiv opens at 10:00. The program starts at 13:30.
The ticket price: a full adult ticket – 200 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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BANK PIVDENNY TO INCREASE CHARTER CAPITA

The shareholders of Pivdenny Bank (Odesa) at a meeting on September 23 will consider the issue of increasing the charter capital of the bank by UAH 186.18 million, to UAH 1.83 billion due to capitalization of part of profit for 2018 (UAH 74.48 million) and for 2019 (UAH 111.7 million).
According to the agenda of a meeting in the information disclosure system of the National Securities and Stock Market Commission, the bank intends to increase the par value of ordinary registered shares from UAH 2.29 to UAH 2.55.
It is indicated that out of UAH 300.46 million of net profit received for 2019, the bank also plans to send UAH 20 million to form a reserve fund, and to leave UAH 168.76 million unallocated.
Bank Pivdenny was founded in 1993.
According to the National Bank, at the beginning of 2020, Yuriy Rodin directly and indirectly owned 63.508292% of the bank’s shares, his daughter Hanna Vanetsyants 12.385933%, wife Tamara Rodina 5.087071%. In addition, Mark Bekker owned 23.879182% of the charter capital of the financial institution.
As of July 1, 2020, in terms of assets (UAH 29.84 billion), Pivdenny Bank ranked 13th among 75 operating Ukrainian banks.

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