INGO Ukraine insurance company (Kyiv) collected more than UAH 410 million of insurance premiums in January-March 2020, which is 19% higher than in the same period in 2019.
The insurer said in its press release that transport insurance accounts for more than UAH 167 million, life and personal health insurance is more than UAH 145.3 million, package insurance (property and liability) is more than UAH 69.9 million, special types (carriers liability insurance, shipping and forwarding agents, airlines, ship owners, full comprehensive insurance of aircraft and sea vessels, etc.) are more than UAH 26.7 million, other types are more than UAH 1.1 million.
According to the company, more than UAH 194 million (25% more) was paid to customers, more than 46,500 insurance accidents were settled in the first three months of 2020.
Formed actuarial reserve of INGO insurer as of March 30, 2020 amounted to more than UAH 1.092 billion, the value of net assets was UAH 668,094.
The indicator of positive net assets over the charter capital meets the requirements of the law and amounts to UAH 362.551 million. The actual solvency margin is UAH 626.087 million, which exceeds the standard inventory by UAH 371.599 million.
Chairman of the Supervisory Board Ihor Hordienko said that taking into account the experience of previous crisis periods, the company developed several scenarios of the crisis bailout plan, in accordance with which costs will be optimized.
In general, today the operational efficiency of the insurance company has increased. Some 75% of employees work remotely, some 25% works in offices, supporting the technical infrastructure and critical regulations. Communication with customers, contractors, and partners is remote. In the same mode, the work of most subdivisions is carried out. As a result, internal cashless and paperless projects have accelerated and have already reached the level of cashless transactions and electronic document flow, which was expected at the end of 2020.
JSC INGO Insurance Company has more than 25 years of experience in the market. Since 2017, the main shareholder of the company has been the Ukrainian business group DCH belonged to Oleksandr Yaroslavsky.
Private joint-stock company Farmak (Kyiv), the pharmaceutical company, did not halt production and will gradually exit lockdown, the press service of the company has told Interfax-Ukraine.
“Farmak continues production as usual. All lines are working as planned. However, after lockdown was announced all over the country on March 12 and the Health Ministry recommended that enterprises transfer employees to remote work, if possible, Farmak transferred some employees to remote work,” the company said.
According to the company, in particular, within the framework of lockdown restrictions introduced in the country, the sanitary regime was tightened to provide additional protection for workers, members of their families and to prevent the spread of coronavirus disease COVID-10, and a reserve of disinfection and personal protective equipment was created.
The company also developed an algorithm of actions and escort routes for people with signs of ARVI, limited mass meetings, replacing them with remote meetings, suspended business trips of employees abroad, and limited business trips within Ukraine.
Workers who returned from abroad starting March 16, switched to telework for 14 days,” the company said.
During lockdown, to ensure uninterrupted operation, Farmak developed routes and a schedule for centralized transportation of employees from their places of residence at 5.45 a.m., and a carsharing group was created to deliver employees to the office.
The press service of Farmak noted an increased demand for medicines manufactured by the company.
“Production is responding to increased demand. Our mission is to make affordable and effective medicines available for treatment, so we quickly adapt to changing market needs. For example, Farmak produces medicines (Amizon, Nazoferon, Gropivirin, Pelorsin) that can be used to treat and prevent influenza and ARVI,” the company said.
Ukraine reduced the export of poultry and offal by 0.5% in January-April 2020 compared to the same period in 2019, to 137,850 tonnes, the State Customs Service said.
According to the service’s data, in monetary terms the export of such products decreased by 10.4%, to $178.62 million.
The import of poultry and offal decreased by 33.4%, to 25,870 tonnes, in monetary terms by 33.4% as well, to $10.96 million for the four months of 2020.
According to the State Customs Service, pork export grew 1.9 times, to 941 tonnes. The products were delivered for $2.62 million, which is 2.5 times more than in January-April 2019.
The import of pork to Ukraine decreased by 61.5%, to 3,500 tonnes, in money terms by 56.5%, to $7.22 million for the first four months of 2020.
Ukraine reduced egg exports by 29.4%, to 37,170 tonnes, in money terms by 29.5%, to $33.44 million in the reporting period. The import of eggs decreased by 56.5%, to 892 tonnes, in monetary terms by 61.5%, to $3.09 million in January-April 2020.
The net international reserves of the National Bank of Ukraine (NBU) in April increased by 4.7%, to $16.83 billion after a decrease of 9.4% in March, according to the regulator’s website. According to the report, in general for the four months of 2020, the National Bank’s net international reserves increased by 6.6%, or by $1.04 billion.
As reported, the net purchase of foreign currency by the central bank in the interbank foreign exchange market in April amounted to $678.8 million, while in March it spent $2.2 billion to support the hryvnia.
Net international reserves are calculated as the excess of foreign exchange reserves over the liabilities of the National Bank in foreign currency.
Ukraine increased coke and semi-coke exports by 2.8 times compared to the same period in 2019б to 10,627 tonnes.
According to statistics released by the State Customs Service, the export of coke and semi-coke in monetary terms increased by 12.2%, to $1.020 million during that period.
The majority of deliveries were made to Slovakia (70.59% of supplies in monetary terms) and Poland (29.41%).
Ukraine imported 92,886 tonnes of coke and semi-coke in January-April 2020, which is 76.2% less compared to the same period in 2019. In monetary terms, imports decreased by 82.3%, to $21.302 million. The import was mainly from the Russian Federation (76.40% of supplies in monetary terms), Poland (9.5%) and Hungary (7.19%).
The losses of winter crops due to drought in Ukraine in the entire country are estimated at 234,000 ha, which is 2.6% of all areas with winter crops, the Ministry for Economic Development, Trade and Agriculture has told Interfax-Ukraine. According to the ministry, the most affected by the drought are winter rape crops – 103,000 ha, wheat – 74,000 ha, barley – 53,000 ha, and peas – 1,300 0 ha.
Potential crop losses in 2020/2021 agri-year for winter wheat are 216,650 tonnes, winter rape – 211,890 tonnes, winter barley – 150,820 tonnes, sugar beets – 50,030 tonnes, peas – 3,050 tonnes, winter rye – 539 tonnes.
At the same time, the Economy Ministry estimates the possible loss of revenue for winter rape at UAH 2.14 billion (19% of the possible income from crops), winter wheat – UAH 0.99 billion (3%), winter barley – UAH 0.63 billion (12%), and sugar beets – UAH 0.03 billion (2%).
“In March-April this year, there was rainfall deficit throughout Ukraine. As a result, spring air drought developed and deepened, which combined with soil drought in many areas of the southern regions,” the ministry said.
