Ukraine’s National Commission for Financial Service Markets Regulation on December 18 amended the strategy for reforming the public regulation of the nonbanking financial service market for 2015-2020 approved by commission resolution No. 499 dated March 19, 2015, according to a posting on the website of the League of Insurance Organizations of Ukraine (LIOU).
According to the league, the goal of the strategy is to reform the public regulation of nonbanking financial services markets to ensure favorable conditions for their further development, increase investment attractiveness, restore consumer confidence in nonbanking financial services, and enhance the role of the nonbanking financial sector in the social and economic life of the country.
According to resolution No. 2230 of the regulator dated December 18, 2018, the main objectives are to bring the regulatory environment of the nonbanking financial services market to international standards of regulation and supervision, improve the activity of the regulator and increase the effectiveness of public supervision, and increase the level of financial inclusion and protection of the interests of consumer of nonbanking financial services, create favorable conditions for the strengthening and sustainable development of nonbanking financial services markets.
In particular, to achieve the strategic goal of creating an enabling environment for strengthening and sustainable development of nonbanking financial services markets, the strategy is expanded by the objective of improving the system of analysis, forecasting and strategic policy planning in the provision of nonbanking financial services.
Ukrainian insurance companies in January-September 2018 collected net premiums in the amount of UAH 25.388 billion, which is 22.1% more than in the same period of 2017, according to the website of the National Commission for the State Regulation of the Financial Services Market.
According to the regulator, gross insurance premiums collected by insurers for this period amounted to UAH 34.875 billion (11.1% up).
The share of net insurance premiums in gross insurance premiums for 9M 2018 increased by 6.6 p.p. compared to the same indicator of 2017 and amounted to 72.8%.
In January-September this year insurers paid out UAH 8.467 billion in net insurance claim fees, which is 18.3% more than in the same period a year earlier. The payout ratio decreased from 34.4% from 33.3%.
According to the regulator, gross insurance payments increased by 18.7%, to UAH 8.755 billion, the level of gross payments rose to 25.1% from 23.5%.
According to the commission, outgoing reinsurance operations for 9M 2018 decreased by 11.6%, to UAH 11.718 billion, in particular due to the decrease in domestic reinsurance by 10.5%, to UAH 9.487 billion, by non-resident reinsurers by 16.2%, to UAH 2.232 billion.
Ukraine’s Health Ministry hopes to fully launch the transplant surgery system by the end of 2019, acting Health Minister Ulana Suprun has said.
“By the middle of 2019 we would be able to make more bone marrow transplant surgeries, and before 2020 the organ transplant system will start operating,” she said on Channel 5 TV.
As reported, some activists and lawmakers expressed fears that all transplant surgery in Ukraine may be suspended from January 1, 2019, as the current law on transplant surgery will expire. The new law on human organs donation adopted in 2018 is to take effect on January 1 and it foresees the functioning of public transplantation register. At present, these registers have not yet been created.
JSC Ukrzaliznytsia has presented a catalog with a list of spare parts that require replacement to potential Ukrainian manufacturers.
According to a posting on the website of the company, thanks to replacement of imported spare parts used in the railway sector, Ukraine’s economy could receive some UAH 1.6 billion and 8,000 additional jobs in 2019.
Ukrzaliznytsia urgently needs replacement of spare parts, first of all, those produced by the Russian Federation. Therefore, we are coming up with a proposal to national manufacturers – to create an alternative to the products of the aggressor country. As an example: in 2019, the company needs 230 positions of these spare parts – this is 575,000 units and UAH 1.6 billion for the Ukrainian economy,” acting Board Chairman of Ukrzaliznytsia Yevhen Kravtsov said.
Now Ukrzaliznytsia is negotiating with the state-run electronic trading platform ProZorro.Sales to provide it with the opportunity of entering into framework agreements with suppliers for a period of three years.
“For domestic enterprises, this is better than one-time orders. Then the owners will be interested to invest in the development of their production facilities and understand the volume of products for the long term,” Kravtsov said.
In addition, next year, Ukrzaliznytsia is ready to further invest UAH 13.5 billion in addition to the level of investment in 2018. This is UAH 8.1 billion in capex and UAH 5.4 billion in current repairs.
NP Logistic, part of the Nova Poshta Group, has signed a contract on the provision of logistic services to the Swedish furniture and home accessories retailer IKEA, planning to open its first store in Ukraine in 2019.
The press service of Nova Poshta reported on Wednesday that the company will provide storage and order completion services for the first IKEA city store in Kyiv.
“We are glad that IKEA selected us. This would allow uniting prime standards of fulfillment and delivery with the furniture retail,” the co-owner of Nova Poshta, Viacheslav Klymov, said.
NP Logistic’s core business is fulfillment: storage of goods at warehouses, online order completion and delivering them to customers.
As reported, in September 2018, IKEA officially announced that the group plans to open a first city store in Ukraine in 2019 in the Ocean Mall in Kyiv.
The development of the network in Ukraine will be under the aegis of IKEA Southeast Europe, which is part of the IKEA Group (Ingka Holding B.V.). The company is engaged in retail business IKEA in Croatia, Serbia, Romania and Slovenia.
Swedish IKEA is the world’s largest retail chains for furniture and household goods with 367 stores on 30 markets.
Nova Poshta was founded in 2001. Its network has more than 2,350 depots and a fleet of more than 3,600 trucks. In 2017, more than 145 million items were delivered.
Roshen Confectionary Corporation has lost one position in the rating of Global Top 100 Candy Companies 2018 and was 25th, retaining sales at the level of 2017 with $800 million.
According to the rating posted on the website of the Candy Industry publication, Roshen Corporation has eight factories and over 10,000 employees.
Konti Group remained 43rd in 2018 with sales worth $473 million compared with $469 million in 2017. The company has five plants and 8,097 employees.
AVK Confectionery climbed three positions and was 64th with the same volume of sales as in 2017 – $275 million. The company owns three plants and hires 3,500 employees.
U.S. Mars Inc. is the first in the ranking with $18 billion sales. Italy’s Ferrero is second with $12 billion in sales and U.S. Mondelez International Inc. is third with $11.56 billion in sales.
