Five risk insurers and one insurance broker left the Ukrainian insurance market in May, according to the website of the National Bank of Ukraine (NBU).
According to the NBU, as of May 31, 2023, 104 non-life insurers (109 in April) and 12 life insurers (number has not changed), one insurer with special status (ECA) and 56 insurance brokers worked in the non-bank market (57 in April).
Besides, two insurers had part of their licenses revoked voluntarily (on the basis of applications submitted by the companies), and one insurer had all of its licenses revoked.
In May, the National Bank received 323 requests from non-banking market participants for registration and licensing activities, 80 of them from the insurers.
As it was reported, in May the National Bank of Ukraine excluded “IC Unipolis” PJSC and “IC Speir” ALC (both in Kiev) and “IC Rik-Avtogarant” ALC (Lviv) from the State register of financial institutions due to the decision on the cancellation of all existing licenses. Also JSC “PROSTO-insurance” (Kiev) has been excluded due to cancellation of all previously available licenses due to non-compliance of insurer ownership structure with legislative requirements, and UJSIC “ASKA” (Zaporozhye) due to completion of accession to IC “VUSO”.
Besides, according to its application Insurance Advisors LLC is excluded from the State register of insurance and reinsurance brokers.
JSC Ukrtransnafta (Kiev) announced a tender for mandatory personal insurance of members of volunteer fire brigades.
According to a report in the electronic public procurement system Prozorro, the expected cost of purchasing services is 56,374 thousand UAH.
“Ukrtransnafta”, 100% shares of which are managed by NJSC “Naftogaz of Ukraine”, is the operator of oil transportation system of the country.
The Cabinet of Ministers has approved the procedure for keeping the State Register of Artesian Wells, which will become part of the unified state electronic geo-information system of subsoil use that is currently being created in Ukraine.
The relevant decision was made at a government meeting on Friday.
“The big reform of subsoil use continues. To complete its regulatory support in Ukraine there are only a few legal acts left to be adopted. Among them is the order of keeping the register of artesian wells,” the department quoted Minister of Ecology Ruslan Strelts in Telegram.
The procedure for maintaining the State Register of artesian wells defines the procedure for its functioning and presentation of data, as well as introduces an accounting of artesian wells.
According to the information of the Ministry of Ecology, conversion of the State Register into the electronic format will improve transparency in the sphere of geological study and rational use of mineral resources, control and prevent decrease of the quality indicators of underground waters and open public and business access to the data on artesian wells and minimize corruption risks.
The register will be accessible through the State Geological Web Portal, in particular through the electronic cabinet of the subsoil user.
The development of the procedure for maintaining the State Register was carried out within the framework of the law № 2805-IX, which launched the reform of the subsoil use sector.
Coca-Cola Beverages Ukraine, the official bottler of Coca-Cola in Ukraine, is close to reaching its pre-war production and distribution volume in 2023, Coca-Cola HBS Director of Logistics Vladimir Choban said.
“In 2021 it was 120 million unit cases (all products, including imported products). In 2023, we expect 115 million unit cases (1 unit case equals 6 liters – IF) … We are so confidently moving towards this bar, realizing that it is the middle of the year …”, – said Choban at the logistics exhibition XXVIII Day of Logistics in Kiev on Friday.
According to him, the company resumed production at its plant in Bolshaya Dymerka in the Kiev region last May. However, due to problems with the ingredients, it produced only one fifth of the items in the assortment portfolio. Now it has already fully restored it, reaching 190 positions.
“I can say that we started producing 40 SKU (positions) in 2022. We were only putting on the shelf and distributing products that rotate quickly. As of today, we are producing almost 190 items… (full range – IF)”, – said Choban.
He noted that before the war, the company formed buffer stocks and dispersed them throughout the country, which allowed for a quick recovery in distribution. “That’s something we did ahead of time as a company, understanding the risks that there could be an escalation in 2022, and we did take almost everything we could take out to the regions and kept it there until a certain time. And that allowed us to resume distribution almost immediately after we de-occupied the region,” the director of logistics for Coca-Cola HBS pointed out.
The company continues to import carbon dioxide (CO2) used to make carbonated beverages from abroad, as its own combined heat and power (CHP) production is still in the process of recovery, the company said in a presentation.
“In May 2022, the lines at the plant were restarted, we started doing distribution, but there was nowhere to get CO2, we were importing CO2 from overseas. And now we continue to import. Now it is cheaper to bring it from abroad than to produce it in Ukraine,” said Choban.
According to him, the company employs 1.6 thousand people, and there have been no layoffs since 2022.
As reported, in connection with the Russian aggression against Ukraine, March 8, Coca-Cola announced the suspension of business in Russia, where it owns ten plants for the production of soft drinks and juices.
Coca-Cola Beverages Ukraine, Coca-Cola’s official bottler in Ukraine, produces a wide range of soft drinks in different categories – sweet fizzy drinks, juices, water, energy drinks and iced teas.
The company’s first factory in Ukraine was opened in Lviv. Now the company owns one plant in the village Bolshaya Dymerka, Kyiv region, which began operation in 1998 and was damaged by Russian occupation troops on March 10, 2022. Production at it was temporarily suspended.
Consensus forecast of risks for economy of Ukraine from NBU
Source: Open4Business.com.ua and experts.news
Metallurgical enterprises of Ukraine in January-May of this year reduced revenues from exports of ferrous metals by 60.7% compared to the same period last year – to $ 1 billion 136.465 million.
According to the statistics, promulgated by the State Customs Service (SCC), during this period, ferrous metals accounted for 6.91% of total revenues from the export of goods against 14.8% in January-May 2022.
In May, the proceeds from the export of ferrous metals amounted to $313.168 million, while in the previous month – $239.718 million.
At the same time, Ukraine increased imports of similar products for five months of this year by 46.3% – to $485.619 million. In May, Ukraine imported products for $124.560 million.
In addition, in January-May, Ukraine has practically kept the export of metal products at the level of five months of the previous year – $424.450 million. In May, they exported by $90.854 million.
At the same time, imports of metal products in the first five months of the year rose by 21.4% – to $285.893 million. In May, Ukraine exported these goods for $64.168 million.
As reported, metallurgical enterprises of Ukraine in January-April 2023 decreased export revenues of ferrous metals in 3.2 times compared to the same period last year – up to $ 823.406 million. At the same time, the country increased imports of similar products by 27.4% – to $ 360.802 million. In addition, Ukraine reduced exports of metal products by 0.6% to $334.065 million in January-April, while imports of metal products in the first four months of the year rose by 11.1% – to $221.719 million.
Metal companies in Ukraine in 2022, revenues from exports of ferrous metals decreased by 67.5% compared to 2021 – up to $4 billion 533.088 million – the ferrous metals accounted for 10.26% of total revenues from the export of goods during this period against 20.49% in 2021. At the same time, Ukraine has reduced imports of similar products last year by 38.3% – to $954.387 million.
In addition, in 2022, Ukraine reduced exports of metal products by 18.6% – to $ 1 billion 52.512 million. Imports of metal products for the year fell by 42.9% – to $ 643.162 million.
