UKRAINE: business of TAS Group in 2021 expanded by 21% y-o-y

17 February 2022 — Marina MAGNAVAL
In 2021, the TAS insurance group (one of the five market leaders in Ukraine) collected GWP 20.9% more y-o-y in local currency (UAH 2.45 billion/EUR 79.23 million*), Forinsurer reports.

Segment-wise, UAH 857.49 million came from MTPL, which is 35.01% of the company's portfolio and exceeds the similar result for 2020 by 19.7%.

The second place in the insurer's portfolio (share 23.2%) belongs to Motor Hull, where the company generated UAH 568.36 million (+25.4%). GWP under Green Card policies increased by 20.8% to UAH 322.81 million, which is 13.18% of the company's total volume for the year.

Under voluntary health insurance contracts in 2021, the insurer collected UAH 284.7 million, which is equal to 11.62% of the company's total GWP and 18.3% more y-o-y.

Total paid claims of TAS in 2021 amounted to UAH 1142.84 million with an annual growth of 28.8%. At the same time, the largest share in the structure of paid claims (38.12%) of the company belongs to MTPL, where UAH 435.62 million (+32.4%) were paid.

TAS's paid claims in Motor Hull increased by 31.2% to UAH 353.6 million, which is 30.94% of the total insurer's paid claims for the reporting period. Approximately 15% of paid claims fell on voluntary health insurance (UAH 171.36 million). On Green Card policies in 2021, the company paid out UAH 145.63 million, which is 12.74% of the total amount of TAS's payments for the period.

*1 EUR = 30.9226 UAH (as of Dec 31, 2021)

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