Business news from Ukraine

Business news from Ukraine

Municipal enterprise “Municipal Guard” again announced a tender for hull insurance for more than 1.5 million UAH

CE “Municipal Guard” (Kiev) on May 15 again announced a tender for the purchase of voluntary vehicle insurance (hull insurance).

According to a message in the system of electronic public procurement Prozorro, the total expected cost of purchasing services is 1.563 million UAH.

The deadline for submitting bids is May 23.

As reported, a similar tender with an expected value of UAH 1.028 million was announced on April 21, 2023.

State Aviation Enterprise “Ukraine” again announced tender for insurance with budget of more than 23 mln UAH

On May 12, the State Aviation Enterprise (SAE) “Ukraine” again announced a tender for services of compulsory civil aviation insurance: compulsory liability insurance of commercial aviation civil aircraft operator for damage caused to third parties and air carrier liability for damage caused to passengers and baggage; compulsory civil aircraft insurance; compulsory insurance of aircrew members and other aviation personal
According to a message in the electronic procurement system Prozorro, the expected value of the purchase of insurance services is UAH 23.392 million.
The tender bid is secured by an electronic bank guarantee of UAH 233.9 thousand.
The deadline for bids is May 20.
As reported, a similar tender with the same budget was announced on April 28, after a tender with a budget of UAH 17.1 million, announced on March 9, failed due to lack of proposals.
The State Aviation Enterprise “Ukraine” was established to organize, provide and perform air transportation, special flights of the highest official delegations of Ukraine and other states in the country and abroad in compliance with the requirements and rules, which are stipulated in the relevant regulatory documents.

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“Expert Rating” withdrew rating of insurer “PROSTO-insurance”

The rating committee of Expert-Rating RA has withdrawn the financial stability rating of the insurer PROSTO-insurance PJSC (Kiev) according to the national scale, according to the website of RA.

The decision has been taken due to revocation of the company’s license for financial services provision by the National Bank of Ukraine on April 27 due to the fact that the insurer’s ownership structure does not meet the requirements of Ukrainian legislation.

The Agency informs that JSC PROSTO-insurance has not provided it with information on non-compliance of its ownership structure with the legislation requirements. The Agency also notes that from April 28, 2023 JSC “PROSTO-insurance” loses the right to: conclude contracts (to prolong the term of the existing agreements), conclude the contracts (to make changes to existing contracts), which will increase the liabilities to the clients. The company continues to fulfill all its obligations under the insurance contracts, which were concluded before the decision of the NBU came into force.

As reported, according to the last submitted accounts for 2022, at the end of the year the amount of insurance premiums of the IC was UAH 204,931 mln, assets – UAH 568,122 mln, insurance reserves – UAH 175,885 mln.

The company’s market share in insurance premiums was 0.6% of the total market (including civil liability insurance of vehicle owners (under internal contracts) – 1,52%).

IC PROSTO-Insurance was registered in 1997. It specializes on provision of services in the field of risk insurance.

According to the NCSSM as of the fourth quarter of 2022, 99,998% of the insurer’s shares belong to the company Lavidia Limited (Cyprus).

Prestige insurer in January-March reduced net premiums and payments to clients

PJSC “Insurance company “Prestige” (Kiev) has finished January-March this year with net premiums of UAH 11.773 million, which is 3.6% less than during the same period a year earlier, according to the insurer in the information disclosure system of the National Commission on Securities and Stock Market (NKTSBFR).

According to it, the gross premiums of IC for the first quarter decreased by 18%, to 15,5 mln UAH, transferred to reinsurers increased by 4,3% – to 5,6 mln UAH.

The company paid out UAH 2,6 mln (-19,1%) in the Q1 of the current year. Administrative expenses increased to UAH 820 ths (+16.5%), and sales expenses increased to UAH 8.238 mln (+3.2%).

Pre-tax financial result made UAH 476 th. (-15.3%), net profit – UAH 15 th. (-44.5%).

Private JSC “IC “Prestige” has been established in 2012. Shareholders are individuals – citizens of Ukraine. The company has 14 licenses for voluntary insurance and 11 licenses for obligatory insurance.

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Ukrposhta chose insurer for MTPL insurance

March 22 Ukrainian state postal enterprise Ukrposhta announced its intention to conclude a contract with IC European insurance alliance (Kyiv) for compulsory civil liability insurance of vehicle owners (MTPL).
As reported in the system of electronic public procurement Prozorro, the price offer of the company amounted to 249.472 thousand UAH with an expected cost of purchasing services at the tender 1.007 million UAH.
Five insurance companies took part in the tender. The finalists besides IC “ESA” were IC “Krajina” with the price offer of UAH 444,648 thousand and IC “Guardian” with UAH 294,473 thousand.
PrJSC European Insurance Alliance was founded on September 22, 1994.
Authorized capital makes UAH 55 mln.
The company is member of the Motor (transport) Insurance Bureau of Ukraine, member of the Agreement on direct settlement of losses and member of the Nuclear Insurance Pool of Ukraine.

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“Elektrotrans” announced a tender for transport insurance and firefighters

On February 9, Khmelnytskyi communal enterprise “Elektrotrans” announced a tender for voluntary civil liability insurance for owners of land transport and compulsory civil liability insurance for owners of land vehicles (MTPL), according to the electronic public procurement system Prozorro.

In addition, the lots were announced for compulsory insurance against accidents in transportation, compulsory insurance services for departmental and rural fire departments and members of volunteer fire brigades.

The expected cost of purchasing services is 690 thousand UAH.

The security of the tender offer is not required.

The deadline for submission of bids is February 17.

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