The surplus of Ukraine’s consolidated balance amounted to $783 million in April 2022, while in April 2021 the surplus amounted to $795 million, the National Bank of Ukraine (NBU) reported on its website.
According to its data, the current account surplus in April 2022 amounted to $1.1 billion, which is 23.4 times more than the surplus in April 2021 ($47 million).
The NBU also reported that exports and imports of goods for the month decreased by 51% and 45.7%, respectively.
The main factor behind the decline in exports to $2.4 billion was a 52.8% reduction in food exports, due to a decrease in grain exports (by 64.8%). There was also a decrease in exports of ferrous and non-ferrous metals – by 71.3%, chemical industry products – by 45.7%, wood and wood products – by 2.8%, mineral products (including ores) – by 41.9% and engineering products – by 35%.
The volume of imports of goods for the specified period decreased to $2.7 billion, including non-energy imports – by 51.1%. In particular, imports of industrial products fell by 18.2%, engineering products by 68.9%, food products by 41.4%, ferrous and non-ferrous metals by 72.4%, chemical industry products by 61.6%, and wood and wood products by 75.3%.
At the same time, energy imports decreased by 17.2%.
According to the National Bank, in April 2022 there was a $785 million trade in services deficit compared to a $347 million surplus in April 2021. The NBU explained this by the growth of refugees abroad, whose expenses exceeded those of April 2021 by 3.7 times. At the same time, the export of services fell by 41.9%.
The surplus in the balance of primary income in April 2022 amounted to $783 million (in April 2021, the deficit was $491 million). Receipts under remuneration decreased by 6.1%, and payments on income from investments by 81.2%.
Net lending of the outside world (the total balance of the current and capital account) in April this year amounted to $1.1 billion versus $48 million in April of the previous year.
The net outflow from the financial account was $1.9 billion (versus $747 million in April 2021), driven by outflows from private sector operations.
Net inflow from public sector operations amounted to $818 million (in April 2021, an outflow of $1 billion).
The NBU estimated the net inflow of foreign direct investment at $85 million, while in April of the previous year this figure was $626 million.
According to the regulator, the net increase in the external position of the country’s banking system in operations with portfolio and other investments amounted to $454 million. It was due to an increase in the external position in the currency and deposits item by $504 million.
The external position of the real sector (excluding foreign direct investment) in April 2022 increased by $2.5 billion. It was due to an increase in net external debt on trade loans by $1.5 billion, an increase in the volume of cash outside banks by $1 billion (again refugee account).
As of April 1, 2022, the volume of international reserves amounted to $26.9 billion, which provides import financing for 3.9 months.
UNIQA Life insurance company in January-March 2022 made insurance payments in the amount of UAH 6.63 million, which is 20.5% more than in the same period a year earlier.
According to the company’s website, during the reporting period, the company collected UAH 122.4 million, while for the same period a year earlier – UAH 213.9 million.
Equity capital as of March 31, 2022 amounted to UAH 259.02 million, assets – UAH 1.341 billion, actual solvency margin – UAH 256.2 million.
Pretax profit amounted to UAH 21.03 million.
UNIQA and UNIQA Life since 2006 have been part of UNIQA Group (Austria).
Dynamics of balance of payments of Ukraine (USD mln)
NBU
Gross insurance premiums of PJSC “Insurance company “Kraina” (Kyiv) in 2021 amounted to UAH 642.139 million, which is 16.7% more compared to 2020, Expert-Rating reports in the information on updating the company’s rating at the level of “uaAA+” on the national scale at the end of 2021.
According to the agency, the share of the company’s insurance premiums owned by reinsurers increased by 24.75%, and their share in the structure of the company’s gross premiums increased by 0.17 percentage points. up to 2.52%.
In 2021, JSC IC “Kraina” made UAH 354.31 million of insurance payments and indemnities, which exceeded the amount of payments for 2020 by 30.62%. In turn, the level of payments of the insurer increased to 55.18%, which exceeds the average indicator for the insurance market of Ukraine.
At the end of 2021, the company received a net profit in the amount of UAH 0.81 million, which is 93.29% less than in 2020. At the same time, the insurer received a loss from operating activities in the amount of UAH 8.62 million, while at the end of 2020, an operating profit was received in the amount of UAH 33.71 million.
In 2021, the equity capital of IC Krajina increased by 1.80% to UAH 152.296 million, and its gross liabilities increased by 13.64% to UAH 184.61 million. The high growth rates of gross liabilities led to a decrease in the level of coverage of the insurer’s liabilities by equity capital by 9.59 percentage points. up to 82.50%.
The volume of cash and cash equivalents during the analyzed period increased by 5.63% and amounted to UAH 90.71 million, while the indicator of coverage of the insurer’s obligations by cash decreased by 3.73 percentage points. up to 49.14%.
At the same time, the Agency notes that as of December 31, 2021, the insurer invested UAH 17.710 million in government bonds, which had a positive effect on the provision with liquid assets, which together covered 58.73% of the insurer’s liabilities.
The agency notes that, according to the reports provided by IC Krajina, as of the end of .2021, the insurer adhered to the criteria and standards established by law for solvency and capital adequacy, liquidity, profitability, asset quality and riskiness of the insurer’s operations.
IC “Kraina” has been operating in the insurance market of Ukraine since 1994. It has licenses for 23 types of insurance.
In January 2022, member insurance companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) concluded 590.5 thousand contracts of compulsory civil liability insurance of land vehicle owners (OSAGO), which is 1.04% more than in January 2021.
According to the data published on the MTIBU website, out of the total volume of contracts, 273.3 thousand were concluded in electronic form, which is 5.05% more than in the first month of 2021.
Members of the Bureau increased the collection of insurance payments under OSAGO policies by 16.68% compared to the same period last year – up to UAH 522.7 million, including for electronic contracts – in the amount of UAH 271.2 million, which is 23.16% more, than a year earlier
The total amount of accrued insurance claims under internal insurance contracts for January 2022 increased by 9.72% to UAH 287.2 million. Including UAH 57.4 million was paid using the Europrotocol, which is 19.3% more than a year earlier.
The Bureau also recorded an increase in the number of settled claims for insurance compensation by 4.93% – up to 13.461 thousand, including 5.221 thousand (+14.2%) using the “Europrotocol”.
MTIBU is the only association of insurers that provides compulsory insurance of civil liability of owners of ground vehicles for damage caused to third parties. Bureau members are 49 insurance companies.
Dynamics of balance of payments of Ukraine (USD mln)
NBU
