Business news from Ukraine

TAS Insurance Group has concluded more than 2.45 mln insurance contracts, including 43% of MTPL

In 2023, TAS Insurance Group (Kyiv) concluded 2.455 million insurance contracts, of which 1.388 million were for voluntary insurance and 1.067 million were for compulsory insurance, according to the company’s website.

According to the insurer’s reports, 2.284 million of all issued contracts were concluded with individuals and 170.016 thousand with legal entities.

Last year, TAS issued 1.075 million new policies of compulsory motor third party liability insurance (MTPL), which is almost 20% more than the corresponding figure for 2022, and 242.6 thousand voluntary motor third party liability insurance contracts (+38%).

Sales of motor hull insurance also increased by 32%, with 91,130 thousand motor vehicle insurance contracts and 81,977 thousand travel insurance contracts concluded.

In addition, over the past year, the insurer issued 11,680 thousand property insurance contracts “Full Housing Protection” and 356,652 thousand car insurance contracts “Full Auto Protection”, which is 20% higher than the corresponding figure for 2022.

The company also notes that 1.152 million customers have entrusted their insurance coverage to it, which is more than 122 thousand more than in 2022.

TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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“Ukrposhta” announces tender for driver insurance

The Ukrainian state postal service enterprise Ukrposhta (Kyiv) announced a tender for compulsory insurance of drivers against transport accidents on January 31, according to the ProZorro electronic public procurement system.

According to the system, the expected cost of the services is UAH 771.375 thousand.

The deadline for submitting bids is February 8.

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IG “TAS” has increased payments by 47.8%, payments – by 38.1%

Insurance group “TAS” (Kyiv) in January-September 2023 collected UAH 2.542 billion of insurance payments, which is 47.8% more than in the three quarters of 2022, according to the company’s website.
Of these, 512.77 million UAH was collected under CASCO, which is 51.2% more than in the same period a year earlier, MTPL – 825.11 million UAH (+37.6%), “Green Card” – 605.8 million UAH (+23.83%), voluntary health insurance – 288.22 million UAH (+53.8%)
At the same time, under property insurance contracts TAS Insurance Group has collected UAH 53,84 mln in the nine months of the current year, payments – by 12,6% more than in the same period last year, under other insurance contracts – UAH 262,47 mln (+31%).
During the reporting period, the insurance group “TAS” has paid UAH 933,21 mln as indemnities under the concluded insurance contracts – by 38,1% more than this indicator for January-September 2022.
UAH 286,59 mln (+56,5%) has been paid under hull insurance contracts, that makes 30,71% of the total amount of payments of the insurer, under CMTPL insurance – UAH 350,13 mln (+31,2%) and 37,52% of total payments, under “Green Card” – UAH 163,2 mln (+47,6%) and 17,49% of the total amount of payments, under voluntary medical insurance – UAH 103,79 mln (+19,5%) and 11,12%.
In turn, the amount of payouts of SG “TAS” under property insurance contracts has amounted to UAH 5,83 mln. Under other insurance contracts the company has paid UAH 23,67 mln as insurance indemnities.
IG TAS was registered in 1998. It is a universal company, offers more than 80 types of insurance products on various types of voluntary and compulsory insurance. It has an extensive regional network of 28 regional directorates and branches.

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“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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