Uzbekistan, Tashkent, July 23 / Trend D. Azizov /
The State Joint-Stock Insurance Company Kafolat, included in the top three insurance companies of Uzbekistan, will pay dividends for 2009 worth 20.42 soums for every simple and 306.25 soums - for preferred share, the company said.
As of 2008, dividends were paid to the amount of 167.58 soums per ordinary share and 306.25 - per preferred share par value of 1,225 soums each.
Dividends on ordinary shares reduced by eight times.
Net profit of Kafolat following last year amounted to 251.113 million soums compared to 548.1 million soums previously (decrease - in 2,2 times).
Last year, the insurance company issued three additional shares worth 5.7 billion soums to increase the authorized capital in 3,3 times - up to 8.2 billion soums. The authorized capital of the insurer is fully formed in the declared amount of 8,200,005,450 soums and divided into 6688, 882,000 shares of common and preferred shares of 5,000 nominal value of 1,225 soums each.
About 500 shareholders own shares of the company. The National Bank for Foreign Economic Activities of Uzbekistan - 32,1 percent of shares, Navoi mining plants - 20,3 percent, Uzagrosugurta - 10.1 percent and the Finance Ministry of Uzbekistan - 8,5 percent are the largest shareholders.
Kafolat was founded in 1997 by decision of the government. It is an insurance company of universal type. It implements more than 30 types of insurance. The company has 14 branches in all regions of the republic, a network of branches and representative offices.
The company's assets in 2009 increased by 86.2 percent - up to 16.515 billion soums. The insurance company increased collection of premiums by 1,6 times compared to 2008 - up to 10.1 billion soums, the volume of premiums increased by 1,7 times - up to 1,03 billion soums.
About 33 insurance companies, including two companies in the field of life insurance, one reinsurance company, three insurance brokers, one actuarial organization, four companies that provide insurance assistance, and four adjust and survey organizations operate on the insurance market in Azerbaijan.
On July 23, the official exchange rate is 1603,01 soums per $1.