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Dmytro Grytsuta, Chairman of the Board of PRIVATE JOINT-STOCK COMPANY TAS INSURANCE GROUP (TAS IG), and Maxym Gapchuk, Deputy Chairman of the Board for Finance, held a press conference today. They released performance results of TAS IG in 2009 and answered journalists’ questions.

Following results of 2009, the amount insurance premiums writen by TAS IG was UAH 285.7 mil in 2009, down by 25% from 2008. The amount of losses paid was UAH 138.4 mil, about the same as in 2008.

TAS IG key figures related to main types of insurance in 2009 are as follows:

Insurance premiums under motor casko insurance contracts made up UAH 95 mil in 2009, down by 36% from 2008; loss payments – UAH 70.3 mil, down by 22% from 2008. A share of motor casko insurance premiums in the TAS IG insurance portfolio equaled 33% in 2009 (down 6% from 2008).

TAS IG insurance premiums under compulsory motor third party liability insurance were UAH 73.7 mil in 2009, up 13% from 2008; loss payments effected to customers went up to 23.9 mil hryvnias, up 5% from 2008. An average loss payment under motor casko and compulsory motor third party liability insurance contracts was about the same in 2009: UAH 7,000 for motor casko (down 3% from 2008), and UAH 7,000 under compulsory motor third party liability insurance (up 2% from 2008).

Insurance premiums obtained by TAS Insurance Group under Green Card program increased by 105% in 2009 from 2008 and equaled UAH 8.5 mil; loss payments spiraled up by 135% and were UAH 4.2 million in 2009. A share of motor insurance in the TAS IG premium portfolio was 62% in 2009, up 5% from 2008. A share of losses paid to clients was 71% of the total amount of loss payments.

Insurance premiums under property (non-motor) insurance grew to UAH 52.9 mil, up 8% from the same period in 2008. A share of this type of insurance in the TAS premium portfolio was 18.5% in 2009, up 6% from 2008. Loss payments made in relation to this insurance program totaled UAH 25.6 mil in 2009. A share of loss payments under property (non-motor) insurance in the total amount of loss payments by TAS IG was 19%.

Insurance premiums in voluntary medical insurance obtained by TAS Insurance Group were UAH 9.3 mil in 2009, up 73% from 2008. Loss payments under voluntary medical insurance were UAH 4.5 mil, up 32% from 2008. The loss ratio in this sector exceeded 49%.

A share of travel insurance in the TAS IG portfolio remained on the same level as compared with 2008 – 2%. The company managed to collect UAH 4.8 mil. Premiums received under travel insurance policies were 2.8 mil hryvnias, up 15% from 2008. The loss ratio under travel insurance agreements was 58% in 2009. An average loss was 1.4 thou hryvnias under one contract.

The average loss paid by TAS IG in 2009 was about the same as in 2008 – UAH 3634. The quantity of valid and effective insurance contracts signed by and between TAS IG was 779,000 in 2009.

The largest amounts of indemnities paid by TAS IG in 2009 were effected under property insurance contracts, motor casko insurance and personal accident insurance contracts.

Note. Private joint-stock company TAS Insurance Group was established in 1998. At present, TAS IG is one of Ukraine’s largest insurance companies. TAS IG offers over 100 insurance products under 60 types of integrated and specialized voluntary and compulsory insurance programs. TAS IG is member of the Presidium of Motor (Transport) Insurance Bureau of Ukraine, Ukrainian Insurance Federation, Insurance Indemnity National Club of Ukraine, Nuclear Insurance Pool of Ukraine, Association of Shipbuilders of Ukraine, Ukrainian Building Association, Ukrainian Union of Industrialists and Entrepreneurs, Credit Reference Bureau, European Business Association (EBA) and International Chamber of Commerce. TAS IG operates 28 regional branches and subsidiaries and 325 sales centers all over Ukraine. The agents network comprises of over 3000 persons.