Uzbekistan, Tashkent, May 12 / Trend D. Azizov /
The Uzbek National Export-Import Insurance Company "Uzbekinvest" increased net profit by 22.7 percent - up to 2.386 billion soums in 2011, the company said.
Net proceeds obtained from rendering insurance services increased by 1.8 times - up to 16.962 billion soums.
"Uzbekinvest" collected 31.9 billion soums of insurance premiums in 2011 (13.8 percent of the total fees throughout the Republic), payments declined by 1.8 percent - up to 5.263 billion soums.
Uzbekinvest's revenues obtained from financial activity increased by 1.9 percent - to 15.38 billion soums, and expenses obtained from financial activity - by 18.8 percent to 9.835 billion soums.
Last year the company increased its volume of investments by almost 10 percent - up to 166.8 billion soums, or 45.4 percent of total investments of insurers in the country.
Uzbekinvest's assets increased by 10.4 percent - 192.878 billion soums in 2011, including long-term assets - by 8.4 percent to 128.091 billion soums, cash and short-term investments - by 13.8 percent to 62.167 billion soums. Net insurance reserves increased by 1.3 times - up to 23.362 billion soums.
"Uzbekinvest" is the largest insurance company in Uzbekistan, operating since 1994. The company is a state agency of export-import insurance. It renders all types of general insurance in the domestic market.
Uzbekinvest's main mission is to assist in attracting foreign investments into Uzbekistan's economy and increase the export potential.
The authorized capital is $60 million. Uzbekinvest's founders are the Uzbek Ministry of Finance (83.3 percent) and the National Bank for Foreign Economic Actiivty (16.7 percent).
The official exchange rate is 1862,03 soums/$1.