IC “Express Insurance” (Kiev) in January-June 2024 collected insurance premiums in the amount of UAH 425,6 mln, which is 32,9% more than the same period of 2023.
As it is specified on the website of the insurer, 2,2 times more contracts were concluded during this period.
Premiums on CASCO amounted to UAH 355,5 mln (+18,8% to 6 months-2023), on MTPL – UAH 77,1 mln (2,7 times more), VMI – UAH 5,9 mln (+14,8%), on other types of insurance – UAH 7,2 mln (2 times more).
In June 2024 the company attracted UAH 75,6 mln of premiums, which is by 21,8% more than in June of the last year. Including premiums on CASCO amounted to UAH 57.9 million (+7.4%), on MTPL insurance – UAH 16 million (2.1 times).
As reported, in January-June 2024 IC “Express Insurance” made payments in the amount of UAH 243,3 mln, which is 62,7% higher than in 2023. Including payments under CASCO amounted to UAH 206,2 mln, or by 57,8%, under CMTPL insurance – UAH 31,5 mln (+137,8%), under voluntary health insurance – UAH 3 mln (-6%), payments under other insurance contracts – UAH 2,6 mln (+7,3%).
In June 2024, the company paid out UAH 43.9 mln to clients, which is 55.5% more than in June 2023. In particular, under hull insurance contracts paid out UAH 35.8 million (+41.4%), from MTPL insurance – UAH 6.9 million (+266.1%).
ALC “Express Insurance” was founded in 2008. It is a part of the group of companies “UkrAvto”. It specializes in motor insurance. Since April 2012 it is an associate member of the Motor Transport Insurance Bureau of Ukraine.
Insurance group “TAS” (Kiev) for January-March 2024 paid out under the concluded insurance contracts indemnities in the amount of UAH 465,89 mln, which is 50,8% more than in the same period of the previous year.
According to the insurer’s website, more than a quarter of its payments (27,54% or UAH 128,31 mln) following the results of the first quarter fell on CASCO, which is 33% higher than the corresponding indicator for the same period of the last year, 35,46% or UAH 165,21 mln – on MTPL insurance (+ 40,1%), 18,91% or UAH 88,12 mln – on voluntary medical insurance (+62,6%)
At the same time, the company has paid UAH 2,8 mln of indemnities under property insurance contracts during the reporting period – by 38,3% more than in the first three months of the last year.
The volume of payments under other insurance contracts amounted to UAH 10.92 mln, which is 30.9% higher than in the same period of 2023.
SG “TAS” was registered in 1998. It is a universal company offering its clients more than 80 types of insurance products on various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.
Insurance companies-members of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU) in January-March 2024 concluded 1.7 million contracts of compulsory civil liability insurance of owners of land vehicles (CMTPL), which is 5.02% more than in the same period of 2023.
According to data released on the MTSBU website, 74% or 1.2 million contracts were concluded electronically, 20% more than in January-March last year.
Members of the Bureau for the three months of 2024 increased the collection of insurance payments under CMTPL insurance policies by 26.2% compared to the comparable period of 2023 – up to UAH 2.1 billion, including UAH 1.673 billion (+41.12%) under electronic contracts.
The amount of the average insurance premium under MTPL contracts is UAH 1,262.8 (+20.1% compared to the same period of 2023).
The total amount of accrued insurance indemnities under domestic insurance contracts has increased by 31,16% – up to UAH 1,18 billion, including UAH 237,9 million paid using “europrotocol” (+17,34%).
The Bureau also recorded an increase in the number of settled claims for insurance compensation by 17.95% – up to 36.6 thousand, including data on the use of “Europrotocol” -13,206 thousand (+3.94%).
The average amount of insurance indemnity for claims of victims in Q1 2024 is UAH 32,270 thousand, which is by 11,2% more than in the same period of 2023 (UAH 29,019 thousand).
The ITSBU is the only association of insurers in Ukraine, carrying out compulsory insurance of civil liability of owners of inland motor vehicles for damage caused to third parties. 33 insurance companies are members of the Bureau.
The National Bank of Ukraine (NBU) has included 13 insurance companies in the list of insurers with the right to conduct transactions with non-resident reinsurers, the regulator’s website says.
According to its data, on March 6, 2023 the list included IC “TAS”, IC “Universalna”; on March 13 – IC “Unica”, IC “Arsenal Insurance”, IC “ARKS”, IC “PZU Ukraine”, IC “TAS”; on March 20 – IC “INGO”; on March 29 – IC “Insurance Guarantees of Ukraine”; on April 4 – IC “Busin”; on April 17 – IC “Guardian”, IC “Ukrainian fire insurance company”, IC “European insurance alliance”.
As reported, on February, 13, the NBU reported that it expanded the possibilities of insurance companies on payment of insurance payments under reinsurance contracts with non-resident reinsurers, and specified the requirements for such operations.
Thus, starting from February 14 insurers, insurance and reinsurance brokers could make payments under respective contracts without restrictions as to the date of conclusion of such contracts under condition of fulfillment of a number of conditions.
In order to simplify the procedure for cross-border reinsurance payments, the National Bank has created a list of insurers and established the procedure for deciding on the inclusion and exclusion of an insurer from the relevant list, as well as the grounds for leaving applications without consideration.
In order to be included to the specified list a respective application should be submitted to the NBU. Inclusion of insurers in the list takes place if the insurer complies with a number of requirements, namely, absence of enforcement actions taken against the insurer for violation of legislation requirements in the sphere of financial monitoring (except written clauses) in realization of special economic and other sanctions, compliance with transparency requirements as to ownership structure, compliance with solvency, capital adequacy and risk ratios within the year prior to application submission and within the period of being in the list of insurers.
In addition, the financial strength (stability) rating of the non-resident reinsurer, with which the reinsurance transaction is performed, should correspond to the level not lower than “A3” (Moody’s Investors Service), “A-” (Standard & Poor’s), “A-” (Fitch Ratings), “A-” (A.M. Best).
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.
TAS Insurance Group (Kyiv) in 2021 concluded 2.518 million insurance contracts, of which 1.223 million were for compulsory types of insurance (up 8%), 1.295 million were voluntary (up 13%).
According to the website of the insurer, TAS signed 2.357 million contracts with insured individuals, which is 10% more than the corresponding figure for 2020. Some 12% more contracts were concluded with clients – legal entities – than a year before last, in total, 160,000 of them were issued.
According to the results of the reporting period, the first place in the company’s portfolio was traditionally occupied by OSAGO, under which 1.050 million policies were issued (up 6%), KASKO – 56,896 (up 17%).
The company reports that in 2021, comprehensive insurance contracts were in consistently high demand among consumers, so 346,496 Povny Avtozakhyst (Full Car Protection) contracts and 15,794 Povny Zhytlozakhyst (Full Housing Protection) contracts were concluded. In turn, 127,356 travel insurance policies were issued during the year.
In total, more than 1.217 million customers entrusted their insurance coverage to TAS Insurance Group last year.
As reported, in 2021, the volume of revenues of TAS reached UAH 2.45 billion. In particular, under OSAGO policies, the insurer collected UAH 857.49 million, while UAH 568.36 million under KASKO agreements, UAH 322.81 million of insurance premiums under Green Card policies.
