Business news from Ukraine

CHINESE CORPORATION BECOMES FIRST RESIDENT OF UKRAINIAN PROJECT

DCH Group of Oleksandr Yaroslavsky and ZTE Corporation, a large Chinese telecommunications equipment manufacturer, have signed a memorandum of cooperation under the Ecopolis KhTZ project, the DCH press service has said.
The document was signed on behalf of DCH by the managing company of the Ecopolis KhTZ business park, and on behalf of ZTE – the Ukrainian division of ZTE Ukraine Corporation. The ceremony was held in a video conference format due to quarantine restrictions in Ukraine.
According to the report, ZTE became the first Ecopolis KhTZ business resident in the industrial park (industrial cluster) and the technology park (IT and R&D clusters). The promising areas of cooperation are the creation of a ZTE office, an R&D center, and a production site in the territory of Ecopolis KhTZ.
“You are the first in the development of the Ecopolis KhTZ technology cluster. I hope other Chinese companies will follow you, such as, for example, Alibaba Group,” DCH said.
In turn, the vice president of ZTE Corporation emphasized the compliance of the Ecopolis KhTZ project with his company’s strategic priorities, and the CEO of ZTE Ukraine said that ZTE is ready to offer its expertise for the implementation of Smart City digital transformation projects in Kharkiv.
Kharkiv Mayor Hennadiy Kernes, who was present at the signing ceremony, noted that the city will fully assist in the implementation of the initiative of DCH Group.

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UKRAINIAN INSURERS BOOST PREMIUMS VIA RESIDENT AGENTS BY 54% IN 2019

Ukrainian insurance companies in 2019 collected UAH 169.113 million in premiums under contracts signed via resident agents, which is 53.9% more compared with 2018 (UAH 109.837 million), the National Commission for Financial Service Markets Regulation has reported.
According to the regulator’s website, the number of contracts concluded through resident agents for the year increased 3.5 times, to 24,745.
Of the total amount of collected premiums, premiums from personal insurance amounted to UAH 116.558 million (1,996 contracts), UAH 31.9 million for property insurance (231), UAH 13.509 million for mandatory insurance (22,200), UAH 3.325 million life insurance (33), and UAH 3.997 million for liability insurance (279).
The amount of remuneration for the provision of such intermediary services last year increased 1.9%, to UAH 28.145 million.
According to the regulator, insurance payments received by nonresident insurers under insurance contracts amounted to UAH 9.774 million, which is 3.7 times more than in 2018. The remuneration for 36 concluded agreements amounted to UAH 771,000 (UAH 580,000 in 2018). At the same time, the regulator said that in 2019, payments under the above agreements were not made.
Nonresident reinsurers through brokers were given UAH 920.7 million for reinsurance under 258 contracts, which is 17% less than a year earlier (UAH 1.111 billion). At the same time, payments were made in the amount of UAH 146.316 million, which is 62% less than in 2018. The remuneration of brokers in 2019 amounted to UAH 34.618 million (a rise of 17.5%).

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