UKRAINE: TAS 1Q2020 paid claims exceeded 43% of its GWP, the largest part coming from motor insurance lines

28 April 2020 — Marina MAGNAVAL
For the first quarter of 2020, the GWP of Ukrainian TAS insurance group increased by 20.2% y-o-y. The total amount of GWP reached UAH 478.21 million (~EUR 15.8 million*), Forinsurer reports.

For the mentioned period, the largest part of premiums in the insurer's portfolio came from MTPL (almost 33% or UAH 157.26 million), which is 24.1% more y-o-y. Motor Hull also increased by 39.6%, to UAH 90.04 million. About 16.15% of the insurer's GWP was generated by voluntary health insurance (UAH 77.25 million), while under property contracts the group collected UAH 18.28 million of premiums.

Paid claims of TAS in 1Q2020 also went up - by 14%, to UAH 208.49 million (~EUR 6.9 million*). Over 34% of paid claims fell on MTPL, about 29% of claims were paid for Motor Hull and almost 17% for Green Card policies, thus, motor insurance paid claims exceeding three quarters of the overall claims paid by the insurer. For voluntary health insurance, TAS paid UAH 32.77 million for the first three months of the current year.

TAS insurance group is one of the TOP-5 local insurers. In 2019 TAS insurance group ranked 3rd on the Ukrainian life insurance and non-life markets.

*EUR 1 = UAH 30.2564 (January 1st, 2020; National Bank)

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