Business news from Ukraine

German construction materials company Fixit receives investment insurance from Germany to build second plant in Ukraine

Prime Minister of Ukraine Denys Shmyhal says that German construction materials company Fixit has received investment insurance from the German government to build a second plant in Ukraine.

“We want German business to invest in Ukraine, to invest in recovery, and within the framework of the forum we are signing important documents… The building materials company Fixit will build a second plant in Ukraine and will receive investment insurance from the German government for this purpose, which will be signed here on the sidelines of the business conference,” Shmyhal said at a press conference at the sixth German-Ukrainian Economic Forum in Berlin on Tuesday.

According to the prime minister, Fixit will also receive a EUR12 million loan from the German bank KfW. “This is a very important and significant project,” he emphasized.

, , , , ,

Boryspil Airport Announces Tender for Driver Insurance

On September 26, Boryspil International Airport (Kyiv) announced a tender for compulsory insurance of drivers against transport accidents.

According to the electronic public procurement system Prozorro, the expected price offer was UAH 43,972 thousand.

Applications for participation in the tender are accepted until October 4.

As reported, the winner of a similar tender a year earlier was Guardian Insurance Company.

Boryspil International Airport accounts for over 68% of Ukraine’s passenger air traffic and is the only Ukrainian airport that serves long-haul flights. More than 50 airlines operate regular flights from the airport to more than 100 routes around the world.

, , , ,

Kyiv-based Ultra Alliance Insurance increases its authorized capital

Ultra Alliance Insurance Company PrJSC (formerly Ultra Insurance Company Kyiv) will increase its authorized capital to UAH 48 million by holding an additional issue of UAH 18 million.

According to the information disclosure system of the National Securities and Stock Market Commission, this decision was made by the shareholders during a meeting on August 21.

It is also noted that the issue is planned to be carried out by allocating to the authorized capital of the company the profit received for 2019-2022 in the total amount of UAH 18 million. The issue will be carried out by increasing the nominal value of shares from UAH 1 thousand to UAH 1.6 thousand.

The authorized capital is being increased to comply with the minimum authorized capital requirements for insurance activities in accordance with the provisions of the Law of Ukraine “On Insurance”.

Ultra Alliance Insurance Company was registered in 2004. The authorized capital is UAH 10 million. The company specializes in risk insurance. The ultimate beneficiary is Igor Yankovsky.

The National Rating Agency “Rurik” has assigned the long-term credit rating of the borrower at the level of uaAA of the investment category with the forecast “in development” and the rating of financial reliability (stability) of the insurer at the level of uainsAAA of the investment category.

Ukrgasvydobuvannya entrusted liability insurance to Transmagistral Insurance Company

On August 24, PJSC Ukrgasvydobuvannya (Kyiv) opened a tender for compulsory civil liability insurance of business entities for damage that may be caused by fires and accidents at high-risk facilities, including fire-hazardous facilities and facilities where economic activity may lead to environmental and sanitary-epidemiological accidents.

According to the Prozorro electronic public procurement system, the expected cost of the services is UAH 120,145 thousand, with the lowest price offer from Trnasmasmagistral Insurance Company at UAH 57,009 thousand.

The following insurance companies participated in the tender: Brokbusiness – UAH 58,260 thousand, Promstrakh – UAH 59,459 thousand, Universalna – UAH 59,744 thousand, Mega-Policy and VUSO – UAH 98,635 thousand each, and Krayina – UAH 118,9 thousand.

The companies are waiting for the final decision

, , ,

PJSC “Ukrgasvydobuvannya” announced tender for insurance

PJSC Ukrhazvydobuvannya (Kiev) on August 25 announced a tender for compulsory insurance of liability of subjects of transportation of dangerous goods in case of negative consequences during transportation of dangerous goods

As reported in the system of electronic public procurement ProZorro, the expected cost of the purchase of services is UAH 1,601 thousand.

The deadline for submission of documents for these two lots is September 2

, ,

Ukraine finalizes scheme with global insurers for insurance coverage of grain ships

Ukraine is finalizing a scheme with global insurers for insurance coverage of grain ships, Ukraine’s deputy economy minister Oleksandr Hryban has told the Financial Times

Ukraine is finalizing the development of a scheme with global insurers for insurance coverage of grain ships traveling to/from Black Sea ports, Ukrainian Deputy Economy Minister Oleksandr Griban told the Financial Times.

According to him, the agreement “is being developed and actively discussed” between the relevant ministries, as well as domestic banks and international insurance groups, including Lloyd’s of London.

The scheme could be in place as early as next month, with five of the 30 ships passing through “dangerous locations” in Ukrainian waters.

Russia reportedly pulled out of the Black Sea Grain Initiative in July and said it would treat any civilian vessel leaving Ukrainian ports as a military target.

However, under the cover of Ukrainian coastal defense systems, the Joseph Schulte dry cargo ship left the port of Odessa on August 16 and used a temporary corridor in the Black Sea. On August 18, it arrived at the coast of Turkey and anchored in the port of “Ambarly” near Istanbul. The container ship Joseph Schulte was in the port of Odessa since February 23, 2022. On its board there were 2000 containers and 30 thousand tons of cargo, in particular food.

Earlier, Ukraine announced the creation of a “humanitarian corridor” in the Black Sea to free cargo ships trapped in its ports after Russia’s withdrawal from the “grain agreement”.

,