Kyiv hosted the 12th Kyiv International Economic Forum (KIEF), dedicated to the performance of the Ukrainian economy amid escalating war risks. Discussions centered on how businesses can adapt to new threats, maintain production, and find resources for recovery and development.
Opening the forum, Ukrainian Prime Minister Serhiy Koretskyi stated that Russia has intensified its attacks on the Ukrainian economy. According to his estimates, direct losses exceeded $7.7 billion, and more than 1 million square meters of real estate have been damaged or destroyed. By the end of the year, the prime minister said, the budget will fall short of planned revenues by about $1.5 billion.
At the same time, he emphasized that despite the consequences of the war, the economy continues to function thanks to the resilience of entrepreneurs and their teams, and support for business remains one of the government’s priorities.
“We realize how important it is right now to support Ukrainian businesses in return for this resilience, in return for this dedicated work,” noted Serhiy Koretskyi.
Despite limited budgetary resources, the government is continuing its lending programs and developing mechanisms to insure against war risks. Under the “5–7–9%” program, 580 billion hryvnia in loans have already been issued since the program’s inception. 457 companies have already insured their property under the loss compensation program administered by the Export-Credit Agency, with a potential payout of over 9 billion hryvnia. The next step is a broader system of war risk insurance, to which the state plans to allocate $1 billion and attract an additional $3 billion from international partners.
Among the external challenges are the tightening of EU trade restrictions on Ukrainian exporters, particularly producers of metallurgical and agricultural products. Business representatives spoke of reduced access to the European market, while Ukraine’s representative to the EU, Taras Kachka, discussed accelerating integration into the EU’s internal market and expanding the industrial visa-free regime.
The labor shortage also remains acute. Experts estimate migration losses at approximately 5 million people, while businesses are facing a shortage of skilled workers. Among possible solutions, participants discussed dual education and creating conditions to encourage Ukrainians to return by offering jobs and affordable housing.
The overall business sentiment at KIEF is cautious but pragmatic. The impact of the attacks varies by industry, but companies agree on the need to hope for the best while remaining prepared for various scenarios. Companies are reviewing safety protocols, setting up shelters, and developing their own response systems. In particular, Vyacheslav Klimov, co-owner of the NOVA Group, said that “Nova Poshta” has implemented its own air defense project, which has already shot down Russian drones. Companies are also developing their own fire departments.
“The top priority for Ukrainian businesses is how to adapt to the new challenges of the war and get through this winter. It’s not easy for anyone, so it’s especially important to support one another. If I need services or partners, I turn first and foremost
to Ukrainian companies. This is a matter of principle: by buying goods and services from one another, we support businesses, preserve jobs, and help our economy survive,” emphasized Vasyl Khmelnytsky, initiator of the Kyiv International Economic Forum (KIEF) and founder of the UFuture holding company.
The business community’s main requests to the government are predictable regulations, insurance against war risks, and solutions to the labor shortage. Businesses have learned to operate amid constant threats, but the costs of security and recovery are limiting opportunities for new investments.
“We have held the KIEF both under pandemic restrictions and after the start of the full-scale invasion. This year, the question of how not only to keep businesses running during the war but also to avoid losing opportunities for development has become particularly acute. There are no ready-made solutions to all problems, so it is important to combine business expertise with the capabilities of the government and international partners,” said KMEF CEO Yuriy Pivovarov.
Title partners of the forum: UFuture, Mastercard, AEQUO, PrivatBank, Kyivstar
Forum partners: Sense Bank, NEQSOL Holding, PUMB, DTEK, Ajax Systems, Uklon, General Chereshnya, Biopharma, Eclectic Talents Group, TERWIN, CEO Club Ukraine, BALEX, Naftogaz Group.
Open4Business is the forum’s media partner.
On Tuesday, the Antimonopoly Committee of Ukraine authorized Poland’s Powszechny Zakład Ubezpieczeń S.A. (PZU, Warsaw)—Poland’s largest insurance company and one of the largest financial institutions in Central and Eastern Europe—to acquire MetLife PrJSC, the leader in the Ukrainian life insurance market.
The AMCU noted on its website that it also approved the terms of the purchase and sale agreement concluded by PZU on April 30 of this year with the seller—the Swiss company MetLife Global Holding Company II GmbH—regarding coordinated actions in the form of non-competition clauses and a prohibition on poaching employees for a period of three years.
As previously reported, in May 2026, the PZU Group entered into a preliminary agreement with MetLife Global Holding to acquire 100% of MetLife’s shares. In a report to the Warsaw Stock Exchange, PZU later noted that the planned closing date for the transaction is late 2026 or early 2027, as it also requires approval from the National Bank of Ukraine (NBU).
It was emphasized that the deal strengthens the PZU Group’s position in Central and Eastern Europe, expands its operations in the life insurance segment, and aligns with its strategy to become a regional leader. It was also noted that the investment is insured by KUKE (PFR Group), which provides protection against the negative consequences of a potential deterioration in the military or political situation.
PZU already owns three companies in Ukraine: “PZU Ukraine,” “PZU Ukraine Life,” and “SOS Services Ukraine.” As of June 30, 2026, their combined net assets totaled 14 million PLN (161.9 million UAH), compared to 38 million PLN at the end of last year, while the combined assets of “PZU Ukraine” and “PZU Ukraine Life” totaled 458 million zlotys (5.2972 billion UAH), compared to 429 million zlotys at the end of last year.
MetLife PJSC has been operating in Ukraine since 2002 and is the leader in the Ukrainian life insurance market. In the first half of 2026, the company collected 1.599 billion UAH in insurance premiums, which is 11.4% more than in the same period a year earlier.
Source: https://amcu.gov.ua/news/informatsiia-pro-rishennia-amku-20102026
https://www.pzu.pl/_fileserver/item/1574495
The leaders of Ukraine’s insurance market in terms of payouts for January–August 2026 were SG “TAS” – 2.758 billion UAH (1.773 billion UAH for the first 8 months of 2025), “Arsenal Insurance” – 2.166 billion UAH, “ARKS” – 2.117 billion UAH (1.350 billion UAH), Insurance Company ‘USG’ – 1.696 billion UAH (1.161 billion UAH), and Insurance Company “VUSO” – 1.695 billion UAH.
According to data from the “PRIMA” information exchange project of the National Association of Insurers of Ukraine (NAIU), there have been changes in the top five compared to the same period last year. Specifically, Insurance Company “Arsenal Insurance” and Insurance Company “VUSO,” which previously were not among the top five in terms of payouts, took second and fifth place, replacing Insurance Company “INGO” and Insurance Company “Unica.”
The leaders in the MTPL market are TAS Insurance Group—1.393 billion UAH (624 million UAH), Oranta Insurance Company—846.1 million UAH (507.7 million UAH), “Knyazha VIG” Insurance Company – 755.7 million UAH (396.6 million UAH), and “Arsenal Insurance” – 500.7 million UAH, replacing “PZU Ukraine” and “INGO” Insurance Company – 423.1 million UAH (222.9 million UAH).
Under the “Green Card” program, the top five insurers by payouts for the first eight months of 2026 were TAS Insurance Group—424.5 million UAH (416.6 million UAH), USG—348.9 million UAH (293.4 million UAH), “PZU Ukraine” – 229.5 million UAH (109.6 million UAH), “Knyazha VIG” – 106.2 million UAH (167.1 million UAH), which swapped places, and “INGO” – 90.6 million UAH (95.9 million UAH)
There have also been changes in the CASCO market: as of the end of the first eight months of 2026, “Arsenal Insurance” leads the market with 1.241 billion UAH (751.8 million UAH), having swapped places with IC “ARKS” at 1.031 billion UAH (850.3 million UAH), TAS Insurance Group – 543.3 million UAH (433.9 million UAH), VUSO – 533.5 million UAH (383,100 UAH), and USG Insurance Company – 530.3 million UAH, replacing Unica Insurance Company.
“Unica” Insurance Company once again holds the lead in voluntary health insurance with 734.7 million UAH (731.5 million UAH). Next are “VUSO” Insurance Company with 529 million UAH (398.8 million UAH), INGO Insurance Company with 528.1 million UAH (465.2 million UAH)—which swapped places—Universal Insurance Company with 401.6 million UAH (354.6 million UAH), and TAS with 325.1 million UAH (250.8 million UAH)
In the life insurance market, MetLife ranks first in payouts with 483.2 million UAH (373.9 million UAH), followed by TAS with 364.5 million UAH (263.2 million UAH), Grave Life with 321 million UAH (223.5 million UAH), “Unica Life” with 125.1 million UAH (158.6 million UAH), and PZU “Ukraine Life Insurance” with 60.5 million UAH, replacing “Arks Life.”
On September 24, PJSC “Ukrnafta” (Kyiv) announced its intention to enter into an insurance contract with Guardian Insurance Company to cover the liability of holders of special permits for the use of oil and gas-bearing subsoil resources during the development of such resources, in cases provided for by the Law “On Oil and Gas.”
According to the Prozorro electronic public procurement system, the company’s bid amounted to 527,000 UAH, compared to the expected cost of 952,000 UAH for the services.
Insurance Company “Ultra Alliance” also participated in the tender with a bid of 850,000 UAH.
As previously reported, Guardian Insurance Company was the winner of a similar tender a year ago.
On September 24, PJSC “National Energy Company ”Ukrenergo” announced a tender for insurance of leased property.
According to the Prozorro electronic government procurement system, the estimated cost of the services is 199,900 UAH.
The deadline for submitting bids is October 12.
PJSC “Ukrtransgaz” (Kyiv) announced a tender on September 21 for liability insurance for company executives.
According to the Prozorro electronic procurement system, the estimated cost of the services is 1.477 million UAH
The deadline for submitting bids is October 8.
“Ukrtransgaz,” which is wholly owned by NAK “Naftogaz of Ukraine,” operates the country’s main gas pipeline system and 12 underground gas storage facilities.
