Uzbekistan, Tashkent, Aug. 11 / Trend D. Azizov /
The Uzbek Finance Ministry issued a license to provide services on 13 types of general voluntary insurance of the "DD General Insurance" company, a report said.
The insurance company was established as a limited liability company and a wholly owned subsidiary of "Dori-Darmon". It is the largest wholesale and retail enterprise of the Uzbek pharmaceutical market. The authorized capital was 1.6 million Euros.
At present, the minimum charter capital of insurance companies operating in general insurance is set to 750,000 Euros, life insurance at 1 million Euro, the companies working on compulsory insurance 1.5 million Euros, and reinsurance companies at 4 million Euros.
"Dori-Darmon" was established in 2005. The largest shareholders of the company with a registered capital of 16.058 billion soums are the State Property Committee, having 36.1 percent of shares and Chester Trading & Investments (U.S) - 34.9 percent.
At present, there are 228 pharmacies, 822 pharmacy branches, 655 of which are in rural areas, including 565 branches of pharmacy in rural medical posts.
As of 2010, trade turnover was 117.546 billion soums, net income amounted to 13.2 billion soums compared to 11.7 billion soums a year earlier (increased by 12.8 percent).
There are 33 insurers in general insurance, three insurance brokers, two actuarial organizations, four companies providing insurance assistance in Uzbekistan.
Uzbek insurers increased premium collection by 20 percent up to 175 billion soums in 2010, the total insurance premiums increased by 33.2 percent up to 27.6 billion soums
The official exchange rate is 1729.12 soums per $1.