Uzagrosugurta to pay dividends for 2009

Business Materials 25 June 2010 20:41 (UTC +04:00)

Uzbekistan, Tashkent, June 25 / Trend D. Azizov /

A general meeting of shareholders of Public Joint Stock Insurance Company Uzagrosugurta, leading in the collection of premiums in 2009 (18.5 percent of the total collection of the Republic), made a decision to pay dividends for each ordinary share of 85 soums and 250 sums - for each preferred share par value of 1,000 sums, amounting to 8,5 percent and 25 percent respectively, the company said.

In 2008, dividends were paid to the amount of 80 and 400 soums respectively.

Share capital was formed to the amount of 2,23 billion soums. It consists of 2.21 million ordinary and 20,000 preferred shares at 1,000 soums each. The largest shareholders of "Uzagrosugurta" are the Ministry of Finance - 75.8 percent in the share capital, the state association "Uzhlopkoprom" - 13,1 percent, "Uzhleboprodukt" - five percent.

Net profit of the organization in 2009 increased by 1,9 times compared to a year earlier - up to 680.696 a million soums. About 28.3 percent of total net profits will be transferred to pay dividends. It will be announced later about the distribution of the rest of the net profits.

The assets in 2009 increased by 1.3 times - up to 24.497 billion soums, including major funds - by 16.3 percent up to 5.777 billion soums, long-term investments - 2,7 times up to 6.253 billion soums.

In 2009, the company increased its collection of insurance premiums 1.5 times compared to 2008 - up to 27.183 billion soums, insurance premiums increased by 44.1 percent - up to 4.846 billion soums.

"Uzagrosugurta" was established in 1997 to provide services for comprehensive insurance of companies in the agricultural sector of Uzbekistan. The company provides services on more than 70 types of insurance through 13 regional directorates, 173 district and city offices, 20 subsidiaries operating throughout the territory of Uzbekistan and 426 representations in the remote settlements.

The insurance market of the republic is represented by 29 companies of general insurance, two companies in life insurance, a reinsurance company, three insurance brokers, one actuarial organization and five companies that provide services in insurance assistance.

Insurance companies in Uzbekistan in 2009 increase the collection of premiums by 62.2 percent compared to 2008 - up to 142.7 billion soums, total premiums increased by 28.4 percent - up 14.4 billion soums.

On June 25, the official exchange rate is 1592,25/$ 1.