TAS Group buys Aegon Life Ukraine

TAS Group buys Aegon Life Ukraine

17.11.2016 News

The Ukrainian insurance company TAS Group, belonging to Sergey Tigipko,has absorbed the Netherlands private joint-stock company Aegon Life Ukraine which management made the decision to abandon the Ukrainian market. For shareholders of Aegon Life Ukraine 2015, it has ended with the net loss in the amount of 3,6 million hryvnias. Total receivables of insurers from 2014 for 2015 has grown by 10,3%: to 10,16 million hryvnias. The unsatisfactory financial condition of the foreign company acted as the strong catalyst in the course of a signing of documents on absorption.

As soon as the transaction is finally complete, TAS Group is going to connect business of Aegon Life Ukraine to own business in the market of insurance under the TAS Life brand. The merge will give the chance of network of the companies of Tigipko to be fixed firmly and even to apply for certain “monopoly” in the insurance services provision schemes in Ukraine. They don’t disclose a transaction price.

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