Business news from Ukraine

Business news from Ukraine

“Nova Poshta” increased its network of branches and post offices to 37.2 thousand in 2024

Last year, Nova Poshta, the leader in express delivery in Ukraine, increased the number of branches and post offices in Ukraine by 10 thousand compared to 2023, to 37,210 points, the company’s press service reports.

“Over the past year, the network of Nova Poshta branches and post offices in Ukraine has increased by more than 10 thousand units, bringing the total number to 37,210 service points,” the company said on Tuesday.

This includes the opening of 1,747 branches last year and the installation of 8,410 post offices across the country, the press service of Nova Poshta said.

Despite the difficult security situation, including regular enemy shelling, the company continued to develop its network in the frontline areas: in 2024, it opened 1214 service points there, most of them in Kharkiv, Dnipro, and Zaporizhzhia regions.

Last year, investments in the development of Nova Poshta’s network of branches and post offices increased by 35% year-on-year to UAH 1.8 billion.

As of the beginning of 2025, Nova Poshta’s network consists of a total of 13,208 outlets and 24,002 post offices. It covers more than 10 thousand settlements in Ukraine.

This year, the company plans to increase the number of service points in Ukraine by another 11 thousand and allocate UAH 1.2 billion in investments, the press service said.

In Kyiv, Nova Poshta has opened the first barrier-free branch with all the conditions for comfortable service for people with disabilities. Its area is 709 square meters. The branch is equipped with adapted furniture, has a wide entrance without a threshold and automatic doors with a sound beacon. A digital assistant has been set up in the branch. Investments in its arrangement amounted to UAH 32 million.

China’s direct investment overseas rose to $144 billion in 2024

China’s total non-financial direct investment (ODI) overseas in 2024 rose 10.5 percent to $143.85 billion, the Ministry of Commerce said. The amount of money invested in states along the Belt and Road rose 5.4 percent to $33.69 billion, Xinhua news agency quoted the ministry as saying.

The number of workers sent abroad last year reached 409,000, up 17.9 percent. As a result, 594,000 Chinese workers were employed abroad at the end of December.

The amount of overseas contracting work performed by Chinese companies rose 3.1% to $165.97 billion.

As reported, China’s total ODI grew 6% through 2023.

 

“Energoatom” has announced tender for MTPL insurance

State-owned enterprise NAEK Energoatom (Kiev) announced a tender for compulsory motor third party liability insurance for owners of land vehicles (MTPL) on January 28.

As reported in the Prozorro electronic public procurement system, the total expected cost of purchasing the services is UAH 1.591 mln.

The deadline for submitting tender documents is February 5.

 

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“Kobzarenko Plant” has entered South American market by supplying machinery to Uruguay

Kobzarenko Plant LLC, one of Ukraine’s leading agricultural machinery manufacturers, has exported its products to South America, in particular to Uruguay, the company’s press service reported on Facebook.

“The first export to Uruguay. Two PT-18 baler trucks are heading to a new dealer in the port of Montevideo to serve our customers in South America,” the statement said.

The company assured that it will continue to open new borders and expand opportunities.

“Kobzarenko Plant was founded in 1993 as the Ukrainian-German company Fliegel (renamed Kobzarenko Plant in 2008). The company began its operations with the production of wheelbarrows and carts for households. Today it is a leading Ukrainian manufacturer of tractor trailers, bins, tanks, fertilizer spreaders, etc. As of 2018, the plant employed 700 people.

It has two production workshops and warehouse complexes in Sumy region, as well as a plant in Poland, Kobzarenko Sp. z.o.o., which produces machinery and operates as a service center for launching, maintaining, and adjusting machinery in Europe and Poland.

Kobzarenko Plant LLC exports machinery to 34 countries and has an extensive dealer network. It sells machinery steadily in all European countries. After the outbreak of a full-scale war, the company withdrew from the markets of Russia and Belarus.

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TAS Insurance Group increased premiums by 38% in 2024, claims increased by 47.3%

In 2024, TAS Insurance Group (Kyiv) collected UAH 4881.3 million in insurance premiums, which is 37.9% more than in 2023.

According to the insurer’s website, motor hull insurance premiums in 2024 amounted to 17.7% of the total, or UAH 864.4 million, which is 19.5% more than in 2023; motor third party liability insurance premiums – 32.13%, or UAH 1568.3 million, which is 36.4% more, and Green Card premiums – 28.6%, or UAH 1395.98 million (+62.9%).

Under voluntary health insurance contracts, TAS Group collected UAH 511.78 million in premiums, which is 32.3% more than in the same period last year and equals 10.48% of the total premiums.
Under property insurance contracts, the company collected UAH 103.88 million of insurance premiums, an increase of 23.1%.

Under other insurance contracts, the company collected UAH 436.93 million in payments (+29%).
Earlier it was reported that in 2024, TAS Insurance Group paid UAH 1.975 billion under the concluded insurance contracts, which is 47.3% more than the amount of the company’s indemnities for 2023.

More than a quarter of the total volume of payments, or 27.3%, accounted for hull insurance – UAH 540 million, which is 34.1% higher than the corresponding figure for the previous year, for MTPL – 32.5%, or UAH 642.3 million (+30.7%), for Green Card – 21.8%, or UAH 430.8 million (+81%).

The share of VHI in the group’s claims portfolio amounted to 14.9%, or UAH 293.6 million (+74.5%) in 2024.

Under property insurance contracts, TAS Group paid UAH 12.92 million (+20.5%) in the reporting period. Other insurance contracts paid UAH 55.7 million (+84.4%).

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.

Supervisory Board of PZU SA has dismissed Artur Oleh from company’s management board

The Supervisory Board of PZU SA on January 27 dismissed Artur Olech from the company’s Management Board, the company announced on its website.

Also, at the same time, a resolution was passed to delegate Andrzej Klesik, a member of the Supervisory Board of PZU SA, to temporarily act as president of the Management Board of PZU SA until the appointment of the president of the Management Board of PZU SA, but for a period not exceeding three months.

Both decrees entered into force upon adoption, the report emphasized.

According to the report, Andrzej Klesik is a graduate of the Catholic University of Lublin, Faculty of Social Sciences, (specializing in economics), and Harvard Business School, where he received an MBA degree. In addition, he has attended numerous training courses abroad related to the financial sector and management, including global training for partners and managing directors of The Boston Consulting Group. He has significant consulting experience in the financial and insurance sectors.

In particular, he has served as President of the Board of Inteligo Financial Services SA., Managing Director of The Boston Consulting Group in Warsaw, Member of the Board of Management of Bankgesellschaft Berlin Polska, President of the Board of Management of PZU SA, Deputy Chairman of the Supervisory Board and Chairman of the Audit Committee at NKBM Maribor, Chairman of the Supervisory Board of Best SA., led the first wave of restructuring of Ethnika, the largest insurance company in Greece, and since 2020 he is Managing Partner at Cornestone Partners, where he is responsible for several portfolio companies.

He also led the IPO of PZU, the largest IPO on the Warsaw Stock Exchange at the time.

PZU Group is one of the largest financial institutions in Poland and Central and Eastern Europe. The Group is led by Powszechny Zakład Ubezpieczeń SA (PZU), a company listed on the Warsaw Stock Exchange (GPW). The beginning of PZU brand traditions is considered to be 1803, when the first insurance company in Poland was founded.

In Ukraine it is represented by insurance companies “PZU Ukraine” and “PZU Ukraine Life Insurance”.