Press-Center

Company News

TAS Insurance Group, pursuant to the results of the first four months 2010, collected UAH97 mn in insurance premiums, up 26% (UAH20 ml) from the same period last year.

Dmytro Grytsuta, Chairman of the Board at TAS IG, commented on the results: “Following the results of the 4 months 2010, the company showed a considerable growth which strongly surpasses insurance market trends. This points to the fact that TAS IG is regaining pre-crisis market standing and sales. TAS IG expects to not only return to its 2008 total volume of sales, but also exceed them significantly as the market situation is rather favorable at present.”

Motor vehicle and personal insurance has been the fastest developing sectors in TAS IG. The maximal growth in insurance premiums was registered under OSAGO (up 55%, or UAH13 mn) and Green Card (up 37%, or UAH1 mn) policies as part of the motor vehicle insurance. The personal insurance revenues went up 55% (UAH3 mn).

Insurance premiums paid by individuals were UAH61.9 mn for the reported period, up 22% from the same period last year. The total quantity of premiums obtained from individuals was 64% of the TAS IG insurance portfolio.

In January-April 2010, TAS IG concluded 316,000 insurance contracts, from 234,000 in the same period last year (up 35%).

The share of the motor transport insurance in the insurance portfolio structure was 68.8% in Jan-Apr 2010, which equals Jan-Apr 2009 results.

The amount of insurance payments was UAH38.8 mn in the reported 4 months, down 9% from the same period 2009.

Maxym Gapchuk, Deputy Chairman of the Board at TAS Insurance Group, said: “The largest amounts of indemnities were paid under motor transport insurance contracts. The share of insurance payments under motor casko insurance, OSAGO (motor third-party liability) and Green Card policies was 83.5% of company’s total payments in January-April 2010.”

“In total, TAS IG effected 22 large payments (over UAH100,000 each) in the reported period totaling UAH8,389,000,” Maxym Gapchuk added. Regional subsidiaries collected 90.5% (UAH87.8 mn) in payments in a consolidated portfolio of TAS IG, up 21.6% from the same period 2009. Kyiv regional directorate, Donetsk regional directorate and South regional directorate are leaders in collecting premiums.

Maxym Gapchuk says: “One can expect two main trends in the 2010 insurance market. From the other hand, the market will decline (according to Q1 results, the market declined by over 35%, down UAH1.6 bn). From the other hand, we will see the market concentration, i.e. principal market players will strengthen their standing. Very few companies will manage to maintain and greatly increase revenues, but those who will can rightly be considered market leaders.”