12:31 30.12.2016

Regulator permits Tigipko to indirectly buy Aegon Life Ukraine insurer

2 min read

The national commission for financial service markets regulation has permitted former deputy prime minister, social policy minister Sergiy Tigipko, who is the founder and key shareholder in the TAS Group, to indirectly acquire 99.99% of shares in private joint-stock company Aegon Life Ukraine insurance company (Kyiv).

The regulator has posted its resolution No. 3220 dated December 22, 2016.

As reported, T.A.S. Overseas Investments Limited (Cyprus) became the owner of a 99.37703% stake (46.732 million shares) in Aegon Life Ukraine insurance company.

The national commission for financial service markets regulation by the resolution dated December 6, 2016 allowed T.A.S. Overseas Investments Limited to acquire a significant stake in Aegon Life Ukraine insurance company through the purchase of 99.377% of its charter capital.

Earlier, the Antimonopoly Committee of Ukraine permitted Tigipko to indirectly, through T.A.S. Overseas Investments Limited, purchase shares in the insurer, which will provide the buyer with over 50% of the votes on the company's board.

Aegon Life Ukraine has been operating since 2003. It offers a full range of life insurance services: long-term endowment insurance, pension insurance, credit life insurance, critical illness as well as accident insurance. Its charter capital is UAH 47.025 million.

TAS is one of the largest financial and industrial groups in Ukraine. It develops four main directions: finance, industry, venture business, and real estate. They are managed by TAS Group LLC. TAS Group started to work in 1998.

TAS insurance company has been working on the Ukrainian market since 2000. Its core business is life insurance. Its charter capital is UAH 46.306 million.

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