Business news from Ukraine

NUMBER OF GREEN CARD INSURANCE CONTRACTS 6% UP

The number of Green Card international insurance contracts signed by the members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-July 2018 increased by 6.16% compared to the same period in 2017, to 425,111.
According to the MTIBU, the amount of accrued insurance premiums increased by 24.9%, to UAH 764.4 million.
The amount of insurance claim fee payments for the seven months rose by 0.6%, almost to EUR6.895 million.
The number of paid claims grew by 1.65%, to 2,957.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for harm caused to third parties. Its members are 56 insurance companies, including nine full members of the bureau that have the right to sign Green Card contracts.

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ORANTA INSURES NATIONAL ANTI-CORRUPTION BUREAU’S CARS

The National Anti-corruption Bureau of Ukraine (NABU) and National Joint-Stock Insurance Company (NJSIC) Oranta (Kyiv) on June 26 signed an agreement on compulsory insurance of vehicle owners’ civil liability for 96 vehicles.
The bid was expected at UAH 110,000; Oranta’s actual bid was UAH 55,155, according to an announcement in the ProZorro electronic procurement system.
BROKBUSINESS Insurance Company and U.S.I Insurance Company also took part in the bidding; their bids were UAH 60,165 and UAH 94,806, respectively.
Oranta is the legal successor of Ukrgosstrakh, founded on November 25, 1921. In 1993, Ukrgosstrakh was reorganized into OJSC NJSIC Oranta.

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UKRAINE’S INSURERS RAISE PREMIUM COLLECTION BY 20%

The insurance companies of Ukraine that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-May 2018 increased collection of insurance premiums on compulsory insurance of vehicle owners’ civil liability (OSAGO) by 19.8% compared with the same period in 2017, to UAH 1.801 billion. The number of OSAGO contracts for the five months grew by 3.57, to 3. 249 million, the MTIBU’s website said.
In addition, the total amount of insurance claim fee payments on internal insurance contracts rose by 18.8%, to UAH 905 million. In particular UAH 132.8 million was paid using Europrotocols, which is 46.1% more than in January-May 2017.
The bureau also recorded a 0.04% increase in the number of settled insurance cases, to 57,117, of which 14,800 (an increase of 14.3%) using Europrotocols.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for harm caused to third parties. Its members are 56 insurance companies, in particular full members of the bureau that have the right to sign Green Card contracts are nine companies.

UKRAINE’S STATE AIR TRAFFIC SERVICE AND BUSIN INSURER AGREE ON INSURANCE OF THREE PLANES

Ukraine’s State Air Traffic Services Enterprise (UkSATSE) and Busin Insurance Company (Kyiv) have concluded an agreement on compulsory aircraft insurance on June 27 (3 planes), according to information on the ProZorro portal. The bid was expected at UAH 3.127 million, Busin’s actual bid was UAH 2.920 million.
IC INGO whose bid was UAH 2.940 million also took part in the bidding.
UkSATSE was founded in 1992. The main mission of UkSATSE is to provide an efficient and safe air navigation services in the Ukrainian airspace and in the airspace over the high seas where the responsibility for providing air traffic services is delegated to Ukraine under the international agreements.
It services five areas of responsibility covering 774,569 km.

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