KIEV, June 5 ??“ The founder of the TAS Group, Serhiy Tihipko, plans to invest funds received from the sale of Kiev-based TAS-Kommerzbank into the insurance business.

"I cannot invest [these] funds in the banking sector. All other options are open for me. Today I can say for sure that I'll invest money in life and risk insurance, as I own companies that are leaders on the market," Tihipko said in an interview with the Ekonomicheskiye Izvestiya newspaper.