Business news from Ukraine

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

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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

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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”.


Kyivgas has announced tender for motor hull insurance with budget of UAH 600 thousand

On August 16, Kyivgas JSC announced a tender for motor vehicle hull insurance, according to the ProZorro electronic public procurement system.

According to the information, the expected cost of insurance services is UAH 600 thousand.

No bid security is required.

The deadline for submitting bids is August 24.

The winner of a similar tender a year earlier was Ultra Alliance Insurance Company.

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“Kharkivvodokanal” again announced tender for MTPL insurance with budget of almost 2.5 mln UAH

KP “Kharkivvodokanal” on August 15 announced a tender for compulsory insurance of civil liability of owners of land vehicles (MTPL) in the amount of 628ed.

According to the system of electronic public procurement Prozorro, the expected cost of purchase of services is UAH 2.520 million.

Proposals are accepted until August 23.

As reported, KP “Kharkivvodokanal” on July 5, 2023 reported the cancellation of the tender for compulsory insurance of civil liability of owners of land vehicles (OSAGO) 584ed. The reason for this decision was the lack of further need for the procurement of goods, works and services.

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