The share of brokers and agents on the Ukrainian insurance market, which today reaches slightly over 2%, could significantly grow in 2019 in relation to the economic necessity and European requirements for insuring major risks, Director of Oakeshott Insurance broker (the U.K.) George Grishin said at a meeting with representatives of large business held in the residence of the British ambassador to Ukraine. According to him, if in Germany, through intermediaries, 72% of insurance contracts are concluded, in the United States, Canada – 95% in life insurance, in Italy – 76% in risk insurance and 44% in life insurance, in the U.K. – 70% and 48% respectively, while in Ukraine only 2%.
“An effective and widely available abroad tool for effective protection of possible risks, such as insurance brokerage, is undervalued in Ukraine. We have high hopes that with our active support, advocacy and activities, trust in brokers will increase in 2019 and their share of the insurance market will increase significantly,” Grishin said.
Director of Oakeshott insurance agency (Kyiv) Yuriy Hryshan said that the European directive regarding insurance intermediation notes its pivotal role on developed markets, which passed the evolutionary way from the large number of insurance companies providing similar services to fewer insurers with wider offers. The major part of insurance products is sold via insurance intermediaries. They, unlike the insurance company, which, in fact, is a supermarket with a standard set of services, make products tailored to specific customers.
Speaking about the perception of the insurance market by foreign partners, Grishin said that many cannot understand how a company that, in fact, is not engaged in insurance, is in the top five Ukrainian insurance companies in collecting premiums. This is known to all and this has been going on for many years.
The main reason for underdevelopment of the Ukrainian insurance market is distrust of both consumers and public agencies to it. “There are no investors, and no demand both for insurance products and insurance companies on the market,” he said.
He said that among the main disadvantages of the market are a large number of insurance companies which quality of assets does not correspond to the tasks set by the market; unresolved relations between company owners and top management; low level of supervision, the main reason for which is current legislation. Speaking about the market prospects in the future, Grishin said that since Ukraine is aimed at European integration, in the future Ukrainian insurers will have to meet European requirements. In particular, the size of the charter capital for risk insurance companies should be EUR 3 million, for life insurance companies – EUR 5 million.
According to Hryshan, the key principles in composing any insurance contract are: determining the insured amount in the event of an insurance event, designating all possible risks that can lead to financial losses, full confidence in the insurer, since much depends on the human factor on the financial market. “Major risks should be well placed, otherwise money is thrown out the window,” he said. According to Grishin, all European insurance is built on trust and openness between the insurer and the client. Most of any insurance contracts are customer data about themselves. “If I send a contract to a client for filling out and I see that his part about personal data and details about doing business is not filled, I know that foreign insurers will refuse to cooperate,” he said.
Oakeshott is a broker of Lloyds of London. It first was present on the Ukrainian market as direct maritime broker – since 1995 in Odesa, Mariupol and Illichivsk (now it is Chornomorsk). Since 2000, it started operating in Kyiv as representative of the British insurance broker.
On December, 1-st and 2-nd the «Kyivan Rus Park» invites to make a time travel in a thousand years ago and join the ancient Slavic amusements.
In the first winter weekend here, in the Principality of Kyivan Rus, there will be a “Winter has knocked on the gates” show-program.
The guests will see the real life of a medieval city, museums and expositions, the horses of historical breeds gathered together from all over the world in the Princely stable, as well as the amusements for any taste: live vocal, horse-trick performances, theatric staging on the historical theme, ancient Slavic diversions, fresh air and good mood.
Ancient Kyiv opens at 10:00. The program starts at 13:30 and lasts till 17:30.
The ticket price: a full adult ticket – 150.00 UAH, for pensioners and students – 100.00 UAH; for schoolchildren – 50.00 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is situated in the vill. Kopachiv, Obukhiv district, Kyiv region. Route taxis leave from Kyiv from the «Vydybitchi» metro station
Detailed information on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for the adult ticket (at full price) 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».
One troy ounce=31.10 grams
Ukraine of the total sales of organic raw materials and products exports 90% of goods and sells 10% in the domestic market.
“The domestic market, despite the fact that it is developing, occupies 10% of total sales, while 90% of “organic” goods are exported. Among the leading countries consuming Ukrainian organic products are the Netherlands, Germany, and the United Kingdom,” Olena Berezovska, the president of the Organic Ukraine union of producers of organic certified goods said at a press conference in Kyiv.
In total, Ukraine exports its organic products to more than 40 countries. Among the exported organic crops are maize (99,500 tonnes in 2017), wheat (58,000 tonnes), barley (22,900 tonnes), sunflower (11,600 tonnes), and soybeans (10,900 tonnes).
“According to the Organic Standard certification authority, Ukraine has 585 operators in the organic market. When we summarize statistics data for 2018, the number of organic producers will exceed 600. Now 14% of the total number of operators are processors. Of the 80 processors, 55 sell their products in the stores of the country. The growth in the sales of organic products in the key networks of Ukraine during 2018 amounted to 5%. There are more than 400 items in the product range,” Berezovska said.
According to her, in 2018 a number of Ukrainian manufacturers received the status of “organic.”
Grigeo Klaipeda (Lithuania), which owns the major stake (more than 97.92%) in PJSC Mena Pack (Mena, Chernihiv region), a manufacturer of corrugated boxes, intends to use the right of squeeze-out.
According to a report by Mena Pack in the information disclosure system of the National Commission on Securities and Stock Market, it received the corresponding notification on November 27.
Grigeo Klaipeda has been holding the major stake in the company since 2012. The charter capital of the company is UAH 4.01 million, the nominal value of shares is UAH 5.
Mena Pack, which has been operating in the corrugated packaging market for more than 30 years, produces corrugated packaging made of three-layer corrugated cardboard for tobacco, food and construction industries.
Grigeo Klaipeda is part of Grigeo Group, the only manufacturer of chipboard, cardboard and sanitary paper in Lithuania and one of the largest in the Baltic States. Grigeo Klaipeda produces components for corrugated cardboard.
BUY, CORRUGATED BOXES, GRIGEO KLAIPEDA, MANUFACTURER, SHARES
