UKRAINE: total GWP of the TAS group in 2023 increased by 45.5% to UAH 3.5 billion

7 February 2024 — Marina MAGNAVAL
The TAS insurance group, companies of which are among the top 20 insurers in Ukraine, collected UAH 3,539.92 million (~EUR 84.04 million) in 2023, which is 45.5% more y-o-y, Forinsurer reports.

The company's Motor Hull sales increased by 41% - GWP amounted to UAH 723.23 million, which is equivalent to 20.43% of all company’s premiums for the reporting period. In the MTPL segment the company collected UAH 1,149.84 million in 2023, which is 32.48% of its portfolio and 35.8% higher y-o-y.

Sales of Green Card policies grew even more significantly – by 78.2% – in this segment the company generated UAH 856.74 million, which is equal to 24.2% of the company’s total premiums for the year.

The share of voluntary health insurance in the insurer’s portfolio at the end of 2023 was 10.93%: UAH 386.91 million in premiums – 46.7% more than in 2022. The company's premiums under property insurance contracts reached UAH 84.42 million, which is 13.8% more y-o-y.

The total paid claims of the TAS group last year amounted to UAH 1,341.24 million (~EUR 31.84 million) - 48.3% more y-o-y. Motor Hull paid claims increased by 60.2%: under these contracts, the company paid UAH 402.78 million, which is 30.03% of the total paid claims for the year.

Under MTPL policies, the company paid UAH 491.21 million, which is 36.62% of the company’s total paid claims for 2023 and 39% more y-o-y.

Paid claims under Green Card policies increased even more significantly – by 64%. In this segment the company paid UAH 238.05 million, which is equal to 17.75% of the company’s total paid claims for the reporting period.

In voluntary health insurance in 2023 the insurer’s paid claims increased by 44.2%: TAS paid a total of UAH 168.28 million, which is 12.55% of the total paid claims. Under property insurance contracts, TAS paid out UAH 10.72 million last year - 19.6% more than in 2022.

*EUR 1 = UAH 42.12 (31.12.2023)