Companies@UA: База компаний Украины

Kyiv, August 6 (Interfax-Ukraine) – Kyiv-based CJSC TAS Insurance Group in January to June 2009 collected UAH 119.5 million in insurance premiums, the company's board chairman, Dmytro Hritsuta, said at a press conference on Wednesday.

He said that the insurance premiums collection shrank by 25%, especially in the banking sales channel.

He said that last year 35% of premiums were collected via banking sales channels, and now the company has lost accreditation in two large banks due to the crisis.

The head of the company also said that discrimination in the selection of insurance companies is seen at the banks.

Hritsuta said that the company is not able to recover deposits from several banks, in particular, in those at which temporary administration was introduced, and the company has received proposals on the restructuring of sums placed on deposit from some banks.

"The sum of overdue reserves of our company placed in troubled banks is less than 5% of total reserves, and the sum is not critical," he said.

He also said that the company since October 2008 has cut the number of outlets from 400 to 340, closing the least efficient subdivisions, and the company has cut administrative expenses by 50%.

In H1, 2009, TAS Insurance Group paid around UAH 60 million in claims, and the level of payments came to 52%, while year-over-year it was 40%.

Hritsuta said that this trend is normal for the whole Ukraine insurance market.

According to a press release issued at the press conference, the share of KASKO car insurance in total premium collection was 35% or UAH 42.1 million, and payment on claims on KASKO policies is UAH 40.5 million.

The share of insurance premiums on the obligatory insurance policies of vehicle owner civil liability to third parties, also known as OSAGO, was 27.2% or UAH 32.5 million, and payments on claims stood at UAH 11.8 million.

Hritsuta noted that sales in OSAGO almost remained unchanged, and were even growing, although the OSAGO rules should be revised and the limit of responsibility should be increased, as the present limit does not protect the insured persons.

The company's collection of premiums in property insurance in January to June 2009 grew by 39%, to UAH 20.3 million, and its share in the company's portfolio grew from 9% to 17%, while payments on claims came to UAH 2.8 million.

Under tourism insurance agreements, the company collected UAH 2.2 million, and under voluntary medical insurance – UAH 1.5 million.

The press service says that the number of functioning insurance agreements in H1, 2009 grew by 1.1%, to 560,000.

Hritsuta said that the company needs to strengthen sales, especially in the agent sale segment, and in September 2009 the company plans to open a school for insurance agents.

CJSC TAS Insurance Group was established in 1998. The company unites around 30 regional branches and almost 400 outlets all over Ukraine. The company's agent chain consists of around 3,000 people.