Business news from Ukraine

Business news from Ukraine

leaders of insurance market of Ukraine in terms of premiums collected are SG “TAS”, “Unica”, “ARKS”, “INGO” and “Ukrainian Insurance Group”

Leaders of the insurance market of Ukraine in terms of premiums collected in January-June 2024 were insurance companies SG “TAS” (UAH 2.057bn), “Unica” (UAH 2.033bn), “ARKS” (UAH 1.955bn), “INGO” (UAH 1.527bn) and “Ukrainian Insurance Group” (UAH 1.409bn), according to the website of NASU.

It is noted that compared to 5M. 2024, IC “Unica” rose from the third position to the second, and IC “ARKS” took its place.

In the top-5 in the market of compulsory insurance of civil liability by collected premiums there have been no changes and following the results of six months of this year the leaders are SG “TAS” (UAH 642,3 mln), “Oranta” (UAH 605,1 mln), “Knyazha VIG” (UAH 473 mln), “ROM” (UAH 304,1 mln) and “VUSO” (UAH 201,6 mln).

The leaders in the market of “Green Card” on collected premiums for the reporting period are “TAS” (UAH 628,3 mln), “USG” (UAH 303,1 mln), “Knyazha VIG” (UAH 317,6 mln), “ROM” (UAH 258,6 mln) and “Oranta” (UAH 173,2 mln) (earlier the fifth position was occupied by IC “INGO”).

There have been no changes in the CASCO market, it is headed, as before, by IC “ARKS” (UAH 1,040 billion), “Arsenal Insurance” (UAH 865 million), “Unica” (UAH 533,7 million), “VUSO” (UAH 448,6 million) and “USG” (UAH 417,6 million).

At the same time among the leaders in voluntary health insurance there have been slight changes in the leadership, as before the top 5 in this segment is headed by IC “Unica” (UAH 907,8 mln), IC “Universalna” has risen from the fourth position to the second (UAH 386 mln), followed by IC “INGO” (UAH 342,5 mln), “ARKS” (UAH 277,7 mln), “VUSO” (UAH 270,3 mln).

According to PRIMA data, there were no changes in the leaders of the life insurance market in the first half of 2024. As before, the first position is occupied by IC “MetLife” (UAH 1,275 bln), IC “TAS” (UAH 330 mln), “Grave Life” (UAH 257,7 mln), “Unica Life” (UAH 203,5 mln) and “ROM Life” (UAH 186,7 mln).

As reported, as of the end of June 2024, 78 risk insurers operate in the insurance market of Ukraine, 12 specialize in life insurance, one – with a special status (“Export Credit Agency”, ECA).

 

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Gas production in Ukraine may double this year – expert

Gross gas production in Ukraine in January-June 2024 amounted to 9.4 billion cubic meters and by the end of the year can grow twice – by 100-200 million cubic meters more than last year’s figure (18.7 billion cubic meters), said Artem Petrenko, executive director of the Association of Gas Producers.

“According to our conservative forecasts for today, Ukraine in 2024 will be able to increase its own production by 100-200 million cubic meters compared to last year’s figure. We are oriented at 18.8 billion cubic meters per year. But this is such a conservative base scenario, which takes into account neither possible positive nor negative aspects,” he said in comments to Energoreforma on the sidelines of the Ukrainian Gas Open 2024 Energy Club, held on Thursday in Kiev.

According to Petrenko’s presentation at the forum, drilling of about 70 wells (150 wells for the whole of 2023) has been started in half a year.

He named the state-owned Ukrgasvydobuvannya as the flagship in this process, noting that private companies are also actively involved in drilling and working to increase production.

“In particular, Smart Energy is now resuming hydrocarbon production at three sites in Kharkiv and Poltava regions. Therefore, I hope that by the end of the year they will add to the total gas production,” said the executive director of the association.

At the same time, he noted that the daily production of private companies fell by 18% compared to last year.

 

 

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In first half of 2024, mortality in Ukraine is three times higher than birth rate

In the first half of 2024, 87,655 children were born in Ukraine, which is 9% less than in the same period last year, according to the Ministry of Justice. At the same time, 250,972 deaths were recorded. The largest number of babies and deaths in Ukraine were in Dnipropetrovs’k and Kyiv regions.
The birth rate decreased by 1.5 times this year compared to the period before the full-scale invasion: 87,655 children compared to 132,595 in 2021.
The highest number of newborns was registered in Kyiv – 9,695 children, 7,923 in Lviv region, and 6,962 in Dnipro region. The number of babies born in the frontline regions is consistently low: in Kherson (221) and Donetsk (702). In the Luhansk region, no babies were registered in the last six months.

Currently, there are three deaths for every newborn citizen. This ratio is one of the key indicators of the demographic crisis. For comparison, in the pre-civil war period, there were two deaths per child in 2018-2020.
250,972 people died in Ukraine in the first six months of 2024. This is 1.4 times less than in the same period in 2021, when 349,041 deaths were recorded. However, it is worth noting that 2021 was the peak year for deaths due to the COVID-19 pandemic.
The lowest number of deaths occurred in the frontline Kherson (2334) and Donetsk (5753) regions and in Chernivtsi (5422). Anti-record numbers were set in Dnipropetrovs’k region (26,374), Kharkiv region (17,999), and Kyiv (17,449).

https://opendatabot.ua/analytics/birth-death-2024-6

 

 

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Turkey ratifies free trade agreement with Ukraine

Turkey has ratified a free trade agreement with Ukraine, Anadolu quoted the country’s official newspaper as saying on Friday.

The agreement was signed on Feb. 3, 2022, and President Recep Tayyip Erdogan approved the deal and its annexes on Thursday.

Turkey-Ukraine bilateral trade volume in 2023 totaled $7.3 billion, Turkish Trade Minister Omer Bolat said Thursday after meeting with Ukraine’s First Deputy Prime Minister Yulia Sviridenko.

According to him, the trade volume is expected to increase to $10 billion within a short period of time under the said agreement.

The main areas of trade between the two countries are ferrous metallurgy, machine building, energy, automobile and grain.

 

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More than 228 thousand cars imported to Ukraine in 7 months of 2024

According to Opendatabot, more than 228 thousand cars were imported into Ukraine in 7 months of 2024, according to the Ministry of Internal Affairs. This is 14.2% more than last year. 71% of all imported cars this year were used. This year, the average age of imported cars is 9 years. Demand for electric cars increased by 83%.

228,319 vehicles were imported to Ukraine in the first 7 months of 2024. This is 14.2% more than in the same period of 2023, when 199,980 cars were imported.

71% of the cars imported this year were used. Currently, the average age of imported used vehicles is 9 years. 42% of used cars imported to Ukraine are 10 years old or older.

Most of the newly imported cars were registered in Kyiv – 13.7%. Lviv (10.2%) and Odesa (7.4%) regions are also in the top 3.

Ukrainians are in stable demand:
VOLKSWAGEN – 25,498 cars (11.2%)
RENAULT – 17,479 cars (7.7%)
AUDI – 13,173 cars or 5.8%.

In terms of models, SKODA OCTAVIA was imported the most – 5,047 units. The next positions were taken by VOLKSWAGEN GOLF and VOLKSWAGEN PASSAT – 4,965 and 4,147 cars respectively.

Gasoline cars remain the most popular – almost every second car imported this year. Diesel cars accounted for 27.5% of the cars imported this year. Despite the fact that imports of electric cars increased 1.8 times over the year, they accounted for only 13.1% of newly imported cars in total.

 

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Japan International Cooperation Agency JICA and Ministry of Culture of Ukraine plan cooperation

Japan International Cooperation Agency JICA and the Ministry of Culture and Information Policy of Ukraine intend to cooperate in the restoration of cultural infrastructure.

“We are working on bringing the storage facilities for cultural property in museums in line with technical requirements. We also need the creation of a specialized depository, in particular, the development of project documentation and financial support for technical re-equipment. In addition, another global project is the renovation of the National Restoration Center. This institute is working at the maximum of its capabilities, but in rented unsuitable premises. We have already found premises for re-location. Now it will be necessary to re-equip and improve the qualifications of employees”, – Acting Minister Rostislav Karandeev is quoted by the press service of the Ministry after a meeting with the team of the Japanese Agency for International Cooperation JICA.

Ot also noted the information challenges, said that Ukraine is actively strengthening work with the frontline territories, the most exposed to the influence of enemy propaganda, and emphasized the interest in cooperation in information support of these regions.

“Our team is engaged in the reconstruction of Ukraine. We are providing assistance that aims to provide emergency needs, but we are also interested in cooperation on cultural issues because we understand its potential,” Naomichi Murooka, deputy director general of the Local and Regional Development Group of the Infrastructure Management Department of JICA’s head office, said at the meeting.

 

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