Uzbek insurance company increases collection of premiums by 23 per cent in 2012

Business Materials 5 February 2013 18:39 (UTC +04:00)

Uzbekistan, Tashkent, Feb.5 /Trend D.Azizov/

Uzagrosugurta State Joint-Stock Insurance Company increased the collection of premiums by 23.2 per cent up to 46.2 billion soum in 2012 compared to 2011, the company told Trend on Monday.

The volume of insurance payments increased by 33.5 per cent to 7.66 billion soums. The portfolio of investments increased by 66.3 per cent, to 43.4 billion soums in 2012.
The company signed 4.25 million insurance contracts in 2012 compared to 4.376 million the previous year (decreased by 2.9 per cent). The obligations on the contracts increased by 1.4 times up to 17 trillion soum.

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

The authorized capital is formed at 10.215 billion soums. It consists of 8.151 million ordinary and 20,000 preferred shares with a nominal sum of 1,250 each.

Uzagrosugurta's largest shareholders are the Finance Ministry - 75.8 per cent and Uzhlopkoprom state association - 13.1 per cent.

At present 34 insurance companies are operating in the country. As many as 2 of them operate in life insurance, one is reinsurance company and 31 insurance companies operate in common insurance.

Besides these companies there are 3 insurance brokers in the insurance market, 2 actuarial organizations, 4 companies, rendering services of insurance assistance and 4 adjusting and survey organizations.