Tashkent, Uzbekistan, April 24
By Demir Azizov- Trend:
"INGO-Uzbekistan" insurance company, a "daughter" structure of the Russian "Ingosstrakh" OJSC increased insurance premiums by 2.8 times in Q1of 2014, compared to the same period in 2012 - up to 5.7 billion soums.
"The growth achieved in all types of services, in particular, on voluntary property insurance, construction risks, personal insurance, and comprehensive motor insurance," the company's representative told Trend.
The volume of payments increased by 2.1 percent compared with a year earlier - up to 575 million soums. The main part of the payments was accounted for the payments on voluntary personal insurance, hull and cargo insurance.
As of early April, the assets of "INGO-Uzbekistan" made up 18.1 billion soums ( a growth of 31.2 percent), the total amount formed insurance reserves - 9.2 billion soms ( 2.4 times growth), the investment - 14.4 billion soums (29 percent growth).
As reported, in April 2008, InVestPolis JSC (a subsidiary of Ingosstrakh, Russia) has acquired 76 per cent of the share capital of the insurance company JV Standard Insurance Group. In September 2008, the company was renamed as the Insurance Closed Joint-Stock Company Ingo-Uzbekistan. In August 2012, InVestPolis JSC increased its stake in INGO-Uzbekistan to 90 percent.
Along with InVestPolis JSC, INGO-Uzbekistan's shareholders are the Bukhara refinery and national air carrier Uzbekistan Airways with a 5 percent stake each.
At present, the authorized capital of the insurance company stands at 7.6 billion soums, it consists of 1000 ordinary shares with nominal of 7.6 million soums each.
The company is licensed by the Ministry of Finance of Uzbekistan for the implementation of activities in the field of general insurance in the mandatory and voluntary forms under 14 classes.
In 2013, "INGO-Uzbekistan" increased premiums by 1.5 times - up 9.2 billion soums, the volume of payments increased by 48 percent - up to two billion soums.
The official exchange rate on April 23 is 2276.19 UZS / USD.
Translated by S.I.
Edited by C.N.