On May 22, the State Customs Service of Ukraine announced a tender for compulsory motor third-party liability insurance services for owners of land vehicles (OSAGO). According to the Prozorro electronic public procurement system, the expected cost of the services is UAH 70,000. The deadline for submitting bids is May 30.
compulsory motor third-party liability insurance, CUSTOMS SERVICE, INSURER
On May 1, the National Bank of Ukraine (NBU) announced its intention to conclude an agreement with the European Insurance Alliance insurance company for compulsory motor third-party liability insurance (CMTPL) and accident insurance for drivers (AI), according to the Prozorro public procurement system.
The company’s price offer was UAH 641,587 thousand against the expected cost of purchasing the services – UAH 1.044 million.
The tender was also participated in by insurance companies VUSO, whose offer was 28 kopecks higher, and Guardian Insurance Company – UAH 899,940 thousand.
As reported, SK Guardian was the winner of a similar tender a year earlier.
European Insurance Alliance PJSC has been operating in the Ukrainian insurance market since 1994. It is a member of the MTIBU Audit Commission, a participant in the agreement on direct settlement of losses under compulsory civil liability insurance for owners of land vehicles, and a member of the Nuclear Insurance Pool of Ukraine.
The company offers 30 types of voluntary and compulsory insurance, including property, motor vehicle, liability, and personal insurance.
Since the beginning of 2024 the number of service station-partners of IC “Express Insurance” has increased by 22 stations throughout Ukraine, and as of July 1, 2024 their total number is 83.
As reported in the information of the company, in June 2024 five more new partners in Volyn, Zhytomyr, Cherkassy, Chernovtsy regions and Kiev joined the network of the company.
The company notes that the expansion of the network will allow to provide the best service for customers in a convenient place for them, as well as is an important element of its strategy and a necessary condition for fulfillment of obligations in accordance with the requirements of the new Law on compulsory civil liability insurance of owners of land vehicles.
Express Insurance ALC was founded in 2008 with participation of UkrAVTO Corporation. The company specializes in automobile insurance.
The Antimonopoly Committee of Ukraine (AMCU) will consider the application of an individual to provide preliminary conclusions on the need to obtain authorization for the acquisition of substantial participation in ALC “IC Greenwood Life Insurance” (Kiev), which will ensure that he exceeds 50% in the supreme governing body of the company, according to the Committee’s website.
As reported, Greenwood Life Insurance has been operating in the Ukrainian life insurance market since 2007 as the legal successor of the insurance company Garantiya Life.
The National Bank of Ukraine in May 2024 applied a measure of influence to IC “Greenwood Life Insurance” in the form of a written reservation and obligations to take measures to eliminate the identified violation until August 13, 2024
The measure of influence was applied due to the fact that the insurer increased the size of the authorized capital without the approval of the National Bank, the report says.
In August 2023, Guardian Insurance Company (Kyiv) collected UAH 109.5 million in payments, which is 22.94% more than in the same period a year earlier, according to the insurer’s website.
It is also reported that in August, the company increased insurance payments by 32.13% compared to the same period a year earlier – up to UAH 35.05 million.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it became a full member of the MTIBU and has the right to sell Green Card policies.
In October 2020, by the decision of the general meeting of members of the Nuclear Insurance Pool of Ukraine, Guardian Insurance Company became a member of the pool.
On August 22, the shareholders’ meeting of JSC “PROSTO-Insurance” (Kyiv) decided to terminate the activities of 13 regional divisions, according to the company’s information posted in the NSSMC disclosure system.
As reported, the National Bank of Ukraine in May excluded the company from the State Register of Financial Institutions in connection with the revocation of all available licenses to carry out activities on April 27, due to the fact that the ownership structure of the insurer did not meet the requirements of the law.
JSC “PROSTO-strakhovanie” had 23 licenses. According to the company’s latest financial statements for the first quarter of 2023, the volume of insurance premiums amounted to UAH 43.488 million, the value of assets – UAH 561.494 million, insurance reserves – UAH 161.712 million. The company’s market share in terms of insurance premiums amounted to 0.5%.
Insurance Company “PROSTO-Strakhovanie” was registered in 1997. It specializes in providing services in the field of risk insurance.
According to the National Securities and Stock Market Commission, as of the fourth quarter of 2022, 99.998% of the insurer’s shares were owned by Lavidia Limited (Cyprus).
