BAKU, Azerbaijan, June 3
By Ilkin Seyfaddini – Trend:
The state share of Kafolat Insurance Company (25 percent) was sold at an online auction on June 3, 2020 in Uzbekistan, Trend reports citing the State Asset Management Agency.
At the electronic exchange trading the state owned 25 percent share in the authorized capital of Kafolat Insurance Company was sold for 22.59 million soum ($2.2 billion).
Sale of 25 percent of state share of Kafolat Insurance Company is envisaged by the presidential decree of April 29, 2019 on attracting foreign investment into the country.
Among the main shareholders are Uznatsbank, Navoi Mining and Metallurgical Complex, Almalyk Mining and Metallurgical Complex, Aloqabank and Asaka Bank, Uzagrosugurta JSC, Uzbekinvest.
Kafolat Insurance Company was founded in 1997. The authorized capital is 33.6 billion soum ($3.3 million). The company has 15 branches, 60 branches and 145 insurance centers in all regions of Uzbekistan.
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