Uzbekistan, Tashkent, Feb.22 /Trend D.Azizov/
State Joint-Stock Insurance Company Uzagrosugurta increased the collection of premiums by 29.8 percent up to 37.5 billion soum in 2011 compared to 2010, the company said on Wednesday.
Some 49.8 percent of the fees in the total volume of premiums collected accounts for voluntary insurance and 50.2 percent for compulsory insurance. The compulsory insurance of civil liability of vehicle owners collected 41.1 percent of total premiums and for compulsory employers' liability insurance - 9.1 percet.
The volume of insurance payments increased by 23.3 percent to 5.74 billion soum. Insurance portfolio increased by 36.6 percent, to 26.1 billion soum in 2011.
The company signed 4.376 million insurance contracts, which is 7.2 percent more compared to 2010. The obligations of the contracts increased by 77 percent up to 12 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 2.23 billion soums. It consists of 2.21 million in ordinary and 20,000 in preferred shares with a nominal sum of 1,000 each.
Uzagrosugurta's largest shareholders are the Finance Ministry - 75.8 percent and Uzhlopkoprom - 13.1 percent.
Uzagrosugurta increased collections of premiums by 6.4 percent to 28.9 billion soum, the volume of payments decreased by 4.3 percent, up to 4.657 billion soum in 2010.
At present 37 insurance companies are operating in the country. As many as 2 of them operate in life insurance, one is reinsurance company and 34 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.
Uzbek insurance companies increased collection of premiums by 36.6 percent up to 231.6 billion soum in 2011 compared to 2010, the total amount of insurance payments on all types of insurance increased by 67 percent to 45.1 billion soums.