Business news from Ukraine

TAS INSURER RAISES PAYMENTS

TAS Insurance Group (Kyiv) in January-November 2020 paid UAH 792.37 million of insurance claims under concluded insurance contracts, which is 21.27% more than in the same period a year earlier (UAH 653.38 million).
According to the insurer’s website, in particular, the company reimbursed UAH 291.66 million under OSAGO policies, which is 36.81% of the total payments for the reporting period and is 11.9% more than the corresponding figure for the 11 months of last year.
The second place in the portfolio of the company’s payments with a share of 30.79% is taken by KASKO: under land transport insurance contracts, TAS paid UAH 244.01 million, which is 42.5% more than was paid in January-November 2019.
Under Green Card policies, TAS Insurance Group reimbursed UAH 123.78 million over the 11 months, which is 15.62% of the total amount of the insurer’s payments and is 28.1% more than this figure for January-November last year.
The volume of payments under voluntary medical insurance contracts increased even more (by 52%) over the year: UAH 107.7 million of compensations were paid under them. Thus, the share of voluntary medical insurance in the insurer’s payment portfolio amounted to 13.59%. In January-November, the company paid out UAH 5.49 million under property insurance contracts. During the reporting period, UAH 19.73 million of compensation were paid under other insurance contracts.

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TAS GROUP RAISES PREMIUMS BY 11.7%

TAS Insurance Group (Kyiv) collected UAH 162.06 million in premiums in November, which is 11.7% more than the company’s receipts in November last year, according to the insurer’s website.
The press release notes that 35.19% of premiums fall on OSAGO – UAH 57.03 million of premiums, which is 7.3% more than in November 2019. Under KASKO agreements, UAH 47.88 million of premiums were attracted, which is 29.54% of the total income of the insurer and is 30.4% more than the corresponding figure for November 2019.
The share of Green Card in the company’s portfolio in November of this year amounted to 13.09%: on such policies UAH 21.21 million of premiums were attracted during the month.
In November, the company paid UAH 84.34 million of compensation under concluded insurance contracts, which is 26.1% more than the amount paid by the insurer for the same period a year earlier.
Under OSAGO policies, UAH 32.27 million was reimbursed during the month, which is 38.27% of the company’s total payments for the month and is 19.2% more than the corresponding figure for November 2019.
The second place in the portfolio of payments with a share of 29.03% at the end of the month is taken by KASKO: under land transport insurance contracts, UAH 24.48 million was reimbursed (more by 41%).

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TAS GROUP SEES 12.9% RISE IN PREMIUMS IN FEB

The TAS insurance group in February 2020 collected UAH 141.82 million of insurance premiums, which is 12.9% more than in February 2019, the insurer said on its website.
Most of the premiums (37.17%) accounted for compulsory insurance of vehicle owners’ civil liability (OSAGO), of which UAH 52.72 million were collected. This is 31.6% more than a year ago.
Under the voluntary car insurance (KASKO) policies, TAS insurance group attracted UAH 32.08 million in premiums, which is 22.62% of the total insurer’s income for the month, and more than 1.5 times exceeds the same indicator of February 2019. Under the Green Card policies, premiums amounted to UAH 28.5 million (a rise of 20.95%), under voluntary medical insurance policies – UAH 4 million, which is 56.8% higher than the same indicator for the second month of last year. Under other insurance policies in February the group attracted UAH 18.52 million of premiums.
In February, the company paid UAH 70.46 million as indemnities, which is 25.6% more than for the reporting period last year.
More than a third of all insurer payments per month – 35.34% – accounted for compulsory civil liability insurance policies of car owners, under which a total of UAH 24.9 million was reimbursed.
KASKO is in the second place of the February payments portfolio with a share of 30.4%: UAH 21.42 million was reimbursed under the ground transport insurance policies – 32.3% more than a year ago.
Under voluntary medical insurance policies, TAS paid UAH 10.15 million, which is 14.4% of the company’s total payments and 60.4% higher than in February last year.
The share of the Green Card of the payment portfolio of the company amounted to 12.89%: under the relevant policies, TAS compensated UAH 9.09 million during the month, which is over 1.5 times more than in February 2019.
Under other insurance policies, UAH 4.9 million of insurance indemnities were paid.

TAS GROUP BUYS PART OF ARENA CITY TRADE CENTER IN KYIV

Sergiy Tigipko’s TAS group of companies has bought part of the Arena City retail and office center at 1-3/2a Baseina Street in Kyiv. According to the NV Business edition, with reference to several sources, the group of Tigipko acquired the center with an area of 14,000 square meters for $13-15 million. The deal did not include several premises on the ground floor that were previously sold.
According to the source, Dmytro Firtash’ Group D, which owned the asset, put it up for sale in 2018 at the initial price of about $20 million.
According to Olha Nasonova, the director general of Restaurant Consulting company, rental rates for offices in Arena City can reach $25-30 per square meter, for food courts from $50 per square meter.
TAS Group was founded in 1998. It has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects.

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TAS GROUP BUYS PART OF ARENA CITY CENTER IN KYIV

Sergiy Tigipko’s TAS group of companies has bought part of the Arena City retail and office center at 1-3/2a Baseina Street in Kyiv.
According to the NV Business edition, with reference to several sources, the group of Tigipko acquired the center with an area of 14,000 square meters for $13-15 million. The deal did not include several premises on the ground floor that were previously sold.
According to the source, Dmytro Firtash’ Group D, which owned the asset, put it up for sale in 2018 at the initial price of about $20 million.
According to Olha Nasonova, the director general of Restaurant Consulting company, rental rates for offices in Arena City can reach $25-30 per square meter, for food courts from $50 per square meter.
TAS Group was founded in 1998. It has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects.

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TAS GROUP BUYS STONE QUARRY

The TAS Group continues investing in industry, in particular, the group acquired a block stone quarry in Zhytomyr region, the press service of the group reported last week.
“Taking into account the active development of infrastructure projects in Ukraine, increase in the volume of road and housing construction, as well as other types of economic activity where natural stone is actively used, the TAS Group considers the extraction of nonmetallic materials to be quite a promising business and intends to continue to acquire new assets in this area,” TAS group Board Chairman Serhiy Popenko said.
According to the report, the entry of a natural stone mining company into the TAS Group complies with the group’s long-term development strategy and will contribute to strengthening its market position.
At the same time, the group did not specify the name of the acquired company and the location of the quarry.
The TAS Group was founded in 1998. It has assets in the financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects. The financial sector of the group includes TAScombank, Universal Bank, VS Bank, two insurance companies and a number of other organizations. The founder and main shareholder of the group is Sergiy Tigipko.

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