Private JSC “Insurance Guarantees of Ukraine” (SGU) has collected UAH 350 th. of gross premiums in January-June 2023, that is by 23,4% more than in the same period a year earlier, follows from the information of rating agency “Expert Rating” on confirmation of insurer’s financial strength rating/credit rating on national scale at the level “uaAA” following the results of its work for the specified period.
It is noted that insignificant volumes of gross premiums of the insurer in the analyzed period, among other things, are connected with specialization of “SGU” in cargo insurance and with essential reduction of transportation of those in need of insurance due to attack of Russia and introduction of martial law in Ukraine.
The company did not make any payments during this period.
As of June 30, 2023 shareholders’ equity of the company has grown by 6,03% – up to UAH 38,75 mln, gross liabilities – by 17,74%, up to UAH 18,75 mln, that has led to decrease of equity/liabilities ratio by 22,82 p.p. to 206,63%. – to 206,63%. The volume of cash and cash equivalents has grown by 3,46% and has amounted to UAH 47,01 mln, and the level of cash coverage of the insurer’s liabilities has decreased by 34,62 p.p. to 250,68%. – To 250,68%.
“Consequently, as of the beginning of the second half of 2023 Private JSC “SGU” had a very high level of provision with highly liquid assets, the volume of which in 2,51 times exceeded gross liabilities of the insurer”, – stated in the message.
Following the results of the first half of 2023 the activity of Private JSC “SGU” was unprofitable: the insurer received net loss in the amount of UAH 1,399 mln (for 6 months of 2022 – UAH 665 thousand) and operating loss – UAH 2,165 mln (UAH 1,320 mln).
Private JSC “SGU” was registered in November, 2005. It has licenses for 15 types of insurance activities, including four licenses for compulsory insurance and 11 licenses for voluntary insurance.
The State Property Fund (SPF) of Ukraine has scheduled a second auction for the sale of Belgorod-Dnistrovsky Commercial Sea Port (BSP) for August 15 with a starting price of UAH 92.45 million.
According to the FGI website, the auction previously scheduled for June 14, before which the starting price of the object was halved to 92.46 million (excluding VAT), was not held due to the lack of bidders.
The winner of the previous auction for the sale of Belgorod-Dnestrovskyi ICC, which took place on March 13, Ukrdoninvest LLC of businessman Vitaliy Kropachev refused to buy the port at the stage of agreeing the terms of the sale and purchase agreement with the regional department of the Federal State Property Management Agency for Odessa and Mykolayiv regions. The company specified that the sale price of the port at the auction, which it won was UAH 264.12 mln (including VAT). It was also reported that Ukrdoninvest did not demand the return of the guarantee fee in the amount of UAH 18.76 million.
The FGI reported that it will re-run the privatization auction for the sale of “Belgorod-Dnistrovskyi ICC” in connection with the recognition of the auction at which it was sold to “Ukrdoninvest” failed: the winner of the auction did not contribute funds for the object, the press service of the Fund reported.
The first auction for the sale of the port with a starting price of UAH 187.57 million, scheduled for March 3, was not held.
Earlier, the FGI noted that the port of Belgorod-Dnistrovsky founded in 1971 is unprofitable, but since 2022 the enterprise “plays an important role in ensuring world food security as a logistics center for ports on the Danube”. In the first quarter of 2023, the port’s total revenue amounted to UAH 7.391 million. At the same time, the loss for this period amounted to – UAH 4.45 million. The amount of overdue accounts payable as of March 31, 2023 – UAH 118.7 million, including wage arrears – UAH 11.5 million. The total debt on wages and payments to the budget amounts to UAH 96.37 mln, including penalty of UAH 1.7 mln.
In 2022, Belgorod-Dnistrovsky ICC received 63 thousand UAH of profit against losses of 28.5 million UAH in 2021 and 25.2 million UAH in 2020.
The port provides loading and unloading services for the main cargo nomenclature: timber cargo, mineral fertilizers, iron ore pellets, metal products. It works with timber and grain cargoes destined for export.
Areas planted with spring grains and pulses crops in 2021-2023, mln. ha
Source: Open4Business.com.ua and experts.news
The National Bank of Ukraine (NBU) has fined IC Kredo (Zaporizhzhya) 153 thousand UAH for violation of requirements in the sphere of financial monitoring.
As reported on the website of the regulator, the fine was imposed, in particular, for improper fulfillment of obligations to develop and implement internal documents on prevention and counteraction, for failure to provide training activities for agents of the institution (their employees) in order to understand their responsibilities and procedures.
As well as for violations of NBU regulations, in terms of providing the National Bank with information (statistical reporting) on prevention and counteraction with errors, and in terms of improper fulfillment of the obligation to apply a risk-oriented approach in its activities.
Among the violations also named improper fulfillment of the obligation to permanently form and enter in electronic form a list of clients with established by the institution levels of risk of business relations and facts of identification of the client’s belonging to the category of politically exposed persons, family members or persons related to a politically exposed person.
IC Kredo, registered in 2004, specializes on rendering services in the sphere of risk insurance.
According to the data of the company as of the beginning of the current year its shareholders are Steelbrok LLC -41,984%, Scientific and Production Limited Liability Company Neon -14,149%, Victor Krivtsun -12,287% and Vitaliy Chaika -33,835%.
On August 12, the Department of the Security Service of Ukraine (SBU) announced its intention to conclude a contract with IC “VUSO” (Kiev) for compulsory insurance of civil liability of owners of land vehicles.
According to the data of the electronic public procurement system Prozorro, the company’s price offer amounted to UAH 508,238 thousand against the expected cost of purchasing services of UAH 1.369 million.
The tender was also attended by insurance companies “Salamandra”-522,5 thousand UAH, “Oranta”-690,2 thousand UAH, “Inter-Policy”-1,159 million UAH, “Arsenal Insurance”-1,226 million UAH.
IC “VUSO” was founded in 2001. The company holds 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance. It is represented in all regions of Ukraine. It is a member of the ITSBU and the FSA, a participant of the Agreement on direct settlement of losses and a member of the Nuclear Insurance Pool.
Primary registrations of electric vehicles in Ukraine in July 2023 increased by almost 11.5% year-on-year and twice as much as in July last year – up to 3,464 units, including 586 new and 2,878 used, Ukravtoprom reported in its Telegram channel.
The lion’s share of registrations is still occupied by passenger cars – 3389 units (including 581 new and 2808 used), commercial vehicles registered 75 units (including five new ones).
The top five new electric cars on the market in July were Volkswagen ID.4 – 214 units; Volkswagen ID.6 – 44 units; FAW Toyota BZ4X – 38 units; Honda E – 36 units and Dongfeng/Honda M-NV – 32 units.
The top five among used cars were formed by Nissan Leaf – 535 units; Volkswagen e-Golf – 394 units; Tesla Model 3 – 289 units; Tesla Model Y – 190 units and Renault Zoe – 155 units.
According to the Association, in January-July of this year, more than 16 thousand units of battery-powered vehicles passed the first registration in Ukraine, which is almost three times more than in the same period last year.
Earlier the Ukrainian market of electric cars (new and used) was analyzed by the Federation of Automobile Industry (FAU) based on the data of the Ministry of Internal Affairs (primary registrations and registrations imported from abroad under the customs certificate or cargo customs declaration (GTE).
According to these data, 3,260 electric passenger cars were registered in July, marking a new record of registrations per month, exceeding the June-2023 figure by 3.3% and the July-2022 figure by double.
In total, in January-July, registrations of such cars grew 2.8 times to the same period of 2022 – up to 15.932 thousand units, exceeding the figure for the whole of last year.
At the same time, the share of new cars increased to 21.4% compared to 16.6% in January-July last year.
The top five leaders in the segment of passenger electric cars at the end of seven months were Volkswagen – 24.5% of the market (+1 position compared to seven months of 2022), Tesla – 18.3% (+1 position), Nissan – 16.3% (-2), Honda – 7.7% (+2) and Renault – 5.1% (-1).
At the same time, Volkswagen registrations increased almost fourfold, Tesla – 3.3 times, Nissan – 2.3 times, Honda – 4.7 times, Renault – 2.1 times.
As reported, according to Ukravtoprom, Ukrainians in 2022 purchased 13.6 thousand electric cars (new and used) – 1.5 times more than a year earlier, with the share of new cars increased to 17% from 14%.
