Uzbek insurance company increases authorized capital by 3.7 times

Uzbekistan, Tashkent, Dec. 24 / Trend D.Azizov /

Uzagrosugurta state joint-stock insurance company, one of the top five insurance companies of Uzbekistan, has increased its authorized capital by 3.7 times - up to 10.215 billion soums (5.2 million euros), the company's management told Trend on Monday.

The company's authorized capital was increased by placing additional shares for a total amount of 7.427 billion soums. In total, the company placed 5.941.840 ordinary shares with a nominal value of 1.250 soums.

The securities were placed by private subscription among shareholders of the company.

The bulk of the additional emission, namely 4.491.920 shares worth 5.615 billion soums were purchased by the country's Finance Ministry. Uzpahtasanoat association purchased 782.480 shares for a total amount of 978.1 million soums, while Agrobank bought 502.640 shares worth 628.3 million soums, Turonbank - 136.800 shares worth 171 million soums, Rural Construction Bank ( Qishloq Qurilish Bank) - 28 million shares worth 35 million soums.

The Finance Ministry with 75.6 per cent in the authorized capital and the Uzhlopkoprom state association with 11.2 percent remained the largest shareholders of Uzagrosugurta following the placement of additional emission.

Previously it was reported that measures to increase the authorised capital are taken in accordance with Uzbek President Islam Karimov's decree on 'Measures on further improvement of the Uzagrosugurta state insurance company's capitalisation level' adopted on July 5 this year.

Uzagrosugurta was created in 1997 to provide services for the comprehensive insurance of companies in the Uzbek agricultural sector. The company provides services on more than 70 types of insurance through 13 regional directorates, 174 district and municipal offices, 20 subsidiaries operating throughout the territory of Uzbekistan and 426 offices in remote settlements.

Uzagrosugurta increased its collection of premiums by 29.8 per cent - to 37.5 billion soums in 2011, while the volume of payments increased by 23.3 per cent - to 5.74 billion soums.

At present 37 insurance companies are operating in the country. As many as two of them operate in life insurance, one reinsurance company and 34 insurance companies operate in common insurance.

Besides these companies there are three insurance brokers in the insurance market, two actuarial organisations and four companies rendering services of insurance assistance and four adjusting and survey organisations.

Uzbek insurance companies increased their collection of premiums by 36.6 per cent up to 231.6 billion soum in 2011 compared to 2010. The total amount of insurance payments made on all types of insurance increased by 67 per cent to 45.1 billion soums.

The official exchange rate on December 24 is 1980.25 sum / $ 1.

Rocket hits small oil refinery in Iraq's north, forcing shutdown: officials
Rocket hits small oil refinery in Iraq's north, forcing shutdown: officials
Number of COVID-2019 cases across globe up by over 564,000 in past day
Number of COVID-2019 cases across globe up by over 564,000 in past day
Argentine prosecutors investigate death of soccer star Maradona
Argentine prosecutors investigate death of soccer star Maradona
Loading Bars
74 more coronavirus patients die in Moscow in past day
Israel launches national plan to strengthen industry amid COVID-19
OPEC+ monitoring committee meeting yields no consensus
Weekly review of Azerbaijan's transport sector
Several Turkish provinces revert preschools to remote teaching over pandemic
UK records another 12,155 coronavirus cases with 215 deaths
Certain investments to be made into industrial parks of Iran’s Qazvin Province
Azerbaijani ministries, AzerGold company hold landscaping campaign on Chovdar field
Rocket hits small oil refinery in Iraq's north, forcing shutdown: officials
Jeyhun Bayramov expresses condolences to his Iranian counterpart
Number of COVID-2019 cases across globe up by over 564,000 in past day
Employment in Iran's Bushehr Province enlarges
Average yield of tobacco in Azerbaijan in 2020 exceeds last year volume
Iranian Energy Exchange announces products to be on sale November 30
Weekly review of events in financial market of Azerbaijan
Norway calls on all political parties to enable new, more diverse parliament in Georgia
Turkey condemns killing of key Iranian nuclear scientist as act of 'terrorism'
Argentine prosecutors investigate death of soccer star Maradona
Performances results of Azerbaijani gymnasts at European Championships in rhythmic gymnastics unveiled
Iran reveals details of exports through Bandar Lengeh County
Projects within Industrialization Map framework being implemented in Kazakhstan's Akmola
Overview of events in agricultural sector of Azerbaijan for last week of November
Activities on provision of Russian peacekeeping contingent held (PHOTO/VIDEO)
Iran boosts manufacturing of passenger cars
UAE cabinet approves new cybersecurity body, climate change envoy
Geostat reveals volume of ferroalloys exported by Georgia to Turkey
Bahar Azadi gold coin price still falling in Iran
Kazakhstan continues introduction of mobile diagnostic tools in railway sector
Azerbaijan, Uzbekistan discuss possibilities of attracting investors to Azerbaijani territories liberated from occupation
Britain expects 'very significant' week for Brexit talks as clock ticks down
Iran declares cargo transportation from Sistan and Baluchestan Province
Death toll from COVID-19 tops 172,000 in Brazil
Chinese companies to process Uzbek garlic for further export to US and European countries
Turkey's export of grain, legumes to France declines
Iran reveals its COVID-19 data for November 29
Details of Iran’s trade turnover announced
EU aims to support Georgia in its efforts to reform electricity market
Azerbaijan confirms 4,170 new COVID-19 cases, 1,985 recoveries
5.5-magnitude quake hits Vanuatu
Azersu LLC announces tender for purchase of equipment for laboratory
Kazakhstan's import of Turkish cement up
Azerbaijan shows footage of Aghdam's Shahbuldag village (PHOTO/VIDEO)
Expenses on construction of enterprises in Iran’s Isfahan Province increases
Number of enterprises launched in Iran's Ilam Province shrinks
Turkmengas opens tender for maintenance of gas turbine generators
At least 30 police killed, over 20 wounded in suicide car bomb explosion in E. Afghanistan
Georgia reports 4 426 new coronavirus cases, 3 721 recoveries, 35 deaths
Over 5,500 patients recover from coronavirus in Moscow in the past day
Azerbaijan shows footage of liberated from occupation villages of Kalbajar region (PHOTO/VIDEO)
China increases import of Turkish cars
Employment in Iran's Alborz Province declines
The President of Turkmenistan receives representative of medical community of Germany
S. Korea reports 450 more COVID-19 cases, 33,824 in total
Azerbaijan's turnover on payment cards in 10M2020 up
Inter-Agency Coordination Council discusses enforcement of Covid restrictions
Azerbaijan has ample opportunities and potential for artificial intelligence dev't
Trump may announce plans for 2024 presidential race during Biden’s inauguration
826 more coronavirus cases recorded in Kazakhstan over 24 hours
France sees further fall in COVID-19 hospitalizations as lockdown exit starts
Turkey's Temsa makes 1st electric bus exports to Sweden
Iran registers monthly positive trade balance
Scottish dev’t agency eyes establishing co-op with companies in Uzbekistan’s Karakalpakstan
Croatian PM in self-quarantine after wife contracts COVID-19
UK records another 15,871 coronavirus cases with 479 deaths
Some 46,000 people gather in Paris to protest against security bill
Kazakhstan to modify large energy saving projects on railways
Severe fire danger for Australia as temperatures smash records
Dozens of Boko Haram militants killed in Nigeria airstrikes
Pope installs new cardinals, including first African-American
WHO reports new daily record high of over 747,000 COVID-19 cases
UK police arrest 155 in anti-lockdown protests in London
Assistant to Azerbaijani president posts footage from Tartar, Aghdam cities
UK, France sign new deal to stop illegal migration across Channel
Iran discloses electricity generation at Iran's Bandar Abbas TPP
Turkey reports 6,714 new COVID-19 cases, 487,912 in total
Zarif: Iran at forefront of fighting terrorism
Georgia takes necessary steps to avoid increase in bread prices
Ethiopian military has taken 'full control' of Tigray capital, government says
Iran’s Bahar Azadi gold coin price continues to fall
Weekly review of Azerbaijani precious metals market
Kazakhstan raises import of grain, legumes from Turkey
Buy/sell operations at Iran Mercantile Exchange revealed
AP publishes article covering Armenian missile attack on Azerbaijan’s Ganja on Oct.17 (PHOTO/VIDEO)
OIC adopts resolutions in connection with Armenia's aggression against Azerbaijan
President, members of Board of European Muslim Forum send letter to President Aliyev
Aghdam district of Azerbaijan after 27 years of Armenian occupation (VIDEO)
Kazakhstan to bring waste processing level to average European level
UK appoints minister in charge of COVID-19 vaccine rollout
Number of blocked malware in AzStateNet network drops
Airport in Uzbekistan to buy auto parts via tender
Iranian Energy Exchange announces products to be on sale November 29
Azerbaijani team takes third place in group exercises at 36th European Rhythmic Gymnastics Championships
At least 6 killed in Somali capital suicide bombing
Microsoft Azerbaijan to support all initiatives in liberated territories of Azerbaijan
Azerbaijan shows footage of Kalbajar's Vang village (VIDEO)
Police fire tear gas at Paris protest against police violence
Electricity imports growing in Georgia
Cargo, passenger traffic via Turkish Sabiha Gokcen Airport slumps amid pandemic
Uzbek-Korean JSC Uz-Dong Won Co. announces tender for steel pipes supply
Cargo transportation at Turkish Antalya airport reduces
All news