Fees of Uzbek insurance company amounts to over $3M

Baku, Azerbaijan, March 29

By Fakhri Vakilov - Trend:

Charges of the insurance company CJSC INGO-Uzbekistan for 2018 amounted to 27.8 billion soums ($ 3.314 million) with a growth of 24.5 percent, Trend reports via Uzbek media.

In particular, 25.3 billion soums (an increase of 16.6 percent) were received from direct insurance operations, and 2.5 billion soums (an increase of 291.7 percent) from incoming reinsurance operations.

The total volume of payments to the insurance company for 2018 amounted to 3.1 billion soums, which is 105.5 percent more than the volume of payments for 2017. Payments for direct insurance operations amounted to 2.9 billion soums (an increase of 94.6 percent), for incoming reinsurance operations - 0.16 billion soums (an increase of 100 percent).

The total investment income of INGO-Uzbekistan for 2018 was 3.8 billion soums, which is 59 percent more than in 2017. Profit before tax of INGO-Uzbekistan for 2018 amounted to 7.7 billion soums (a decrease of 7 percent).

The net profit of INGO-Uzbekistan for 2018 was 7 billion soums compared to 7.8 billion soums (a decrease of 10 percent) for the same period last year.

The volume of assets of INGO-Uzbekistan amounted to 59.0 billion soums (an increase of 28 percent). Insurance reserves increased to 27.2 billion soums (an increase of 49.4 percent). Own capital reached an indicator of 39.1 billion soums (an increase of 32 percent).

($1- 8387.15 soums on March 29)

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Follow author on Twitter:@vakilovfaxri

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