Business news from Ukraine

“ASKA-Life” reduced premiums by 49%, increased payments by 36%

In January-September 2023, PJSC “Ukrainian Joint-Stock Insurance Company “ASKA-Life” (Kyiv) collected net and gross insurance premiums in the amount of UAH 117.5 million, which is 49% less than in the same period of 2022.
The company’s interim financial report, published in the information disclosure system of the National Securities and Stock Market Commission of Ukraine (NSSMC), does not include premiums to reinsurers.
According to the published data, for the first nine months of 2023, the company paid UAH 8.376 million to customers, which is 36% more than in the same period last year.
The company’s administrative expenses for the reporting period increased by 15.4% to UAH 9.436 million, while sales expenses decreased by 2.2 times to UAH 98.9 million.
The financial loss from operating activities for the first nine months of 2023 decreased to UAH 12.6 million from UAH 15.7 million compared to the same period in 2022.
Net loss amounted to UAH 1,058 million, which is 6.5 times less than in January-September 2022.
ASKA-Life Insurance Company was registered in 2003 and specializes in life insurance.
As reported on the website of the National Securities and Stock Market Commission, as of the second quarter of 2023, 55.6667% of the company belongs to SCM Finance Limited, and 44.3333% to Alexander Sosis.

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German construction materials company Fixit receives investment insurance from Germany to build second plant in Ukraine

Prime Minister of Ukraine Denys Shmyhal says that German construction materials company Fixit has received investment insurance from the German government to build a second plant in Ukraine.

“We want German business to invest in Ukraine, to invest in recovery, and within the framework of the forum we are signing important documents… The building materials company Fixit will build a second plant in Ukraine and will receive investment insurance from the German government for this purpose, which will be signed here on the sidelines of the business conference,” Shmyhal said at a press conference at the sixth German-Ukrainian Economic Forum in Berlin on Tuesday.

According to the prime minister, Fixit will also receive a EUR12 million loan from the German bank KfW. “This is a very important and significant project,” he emphasized.

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Boryspil Airport Announces Tender for Driver Insurance

On September 26, Boryspil International Airport (Kyiv) announced a tender for compulsory insurance of drivers against transport accidents.

According to the electronic public procurement system Prozorro, the expected price offer was UAH 43,972 thousand.

Applications for participation in the tender are accepted until October 4.

As reported, the winner of a similar tender a year earlier was Guardian Insurance Company.

Boryspil International Airport accounts for over 68% of Ukraine’s passenger air traffic and is the only Ukrainian airport that serves long-haul flights. More than 50 airlines operate regular flights from the airport to more than 100 routes around the world.

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Kyiv-based Ultra Alliance Insurance increases its authorized capital

Ultra Alliance Insurance Company PrJSC (formerly Ultra Insurance Company Kyiv) will increase its authorized capital to UAH 48 million by holding an additional issue of UAH 18 million.

According to the information disclosure system of the National Securities and Stock Market Commission, this decision was made by the shareholders during a meeting on August 21.

It is also noted that the issue is planned to be carried out by allocating to the authorized capital of the company the profit received for 2019-2022 in the total amount of UAH 18 million. The issue will be carried out by increasing the nominal value of shares from UAH 1 thousand to UAH 1.6 thousand.

The authorized capital is being increased to comply with the minimum authorized capital requirements for insurance activities in accordance with the provisions of the Law of Ukraine “On Insurance”.

Ultra Alliance Insurance Company was registered in 2004. The authorized capital is UAH 10 million. The company specializes in risk insurance. The ultimate beneficiary is Igor Yankovsky.

The National Rating Agency “Rurik” has assigned the long-term credit rating of the borrower at the level of uaAA of the investment category with the forecast “in development” and the rating of financial reliability (stability) of the insurer at the level of uainsAAA of the investment category.

Ukrgasvydobuvannya entrusted liability insurance to Transmagistral Insurance Company

On August 24, PJSC Ukrgasvydobuvannya (Kyiv) opened a tender for compulsory civil liability insurance of business entities for damage that may be caused by fires and accidents at high-risk facilities, including fire-hazardous facilities and facilities where economic activity may lead to environmental and sanitary-epidemiological accidents.

According to the Prozorro electronic public procurement system, the expected cost of the services is UAH 120,145 thousand, with the lowest price offer from Trnasmasmagistral Insurance Company at UAH 57,009 thousand.

The following insurance companies participated in the tender: Brokbusiness – UAH 58,260 thousand, Promstrakh – UAH 59,459 thousand, Universalna – UAH 59,744 thousand, Mega-Policy and VUSO – UAH 98,635 thousand each, and Krayina – UAH 118,9 thousand.

The companies are waiting for the final decision

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PJSC “Ukrgasvydobuvannya” announced tender for insurance

PJSC Ukrhazvydobuvannya (Kiev) on August 25 announced a tender for compulsory insurance of liability of subjects of transportation of dangerous goods in case of negative consequences during transportation of dangerous goods

As reported in the system of electronic public procurement ProZorro, the expected cost of the purchase of services is UAH 1,601 thousand.

The deadline for submission of documents for these two lots is September 2

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