BAKU, Azerbaijan, Aug. 5
By Ilkin Seyfaddini - Trend:
Uzbekistan’s Kafolat Insurance Company signed over 320,000 insurance contracts worth 80.3 billion soum ($7.8 million) in the first half of 2020, Trend reports citing the company.
At the end of the first half of 2020, 11.1 billion soum (more than $1 million) of insurance premiums were collected on compulsory civil liability insurance of vehicle owners.
As a result of significant and large-scale work on insurance of civil liability of employers in the reporting period, the company managed to collect 8.8 billion soum ($860,667) of insurance premiums and take second place among insurers working in this area.
Under obligatory insurance of carrier's civil liability, insurance premiums worth 800.2 million soum ($78,262) were collected, where the company also took the first place among competitors.
In the first half of 2020, the company considered 4,172 insurance claims for which 16.8 billion soum ($1.6 million) of insurance claims were paid, which is 23 insurance payments per day.
The main part of payments falls on compulsory insurance of civil liability of the employer, compulsory insurance of civil liability of vehicle owners and voluntary types of insurance.
The volume of insurance payments has increased by $2.6 billion compared to the same period of 2019, and the company pays out 93.3 million soum ($9,125) of daily insurance compensations on average.
In the first half of 2020, Kafolat Insurance Company has developed new types of insurance such as insurance of medical personnel against accidents and infectious diseases, insurance of citizens against accidents in recreational areas, and insurance of travelers against accidents during visits to historical monuments.
Kafolat Insurance Company was founded in 1997. The authorized capital is 33.6 billion soum ($3.3 million). The company has 60 branches and 145 insurance centers in all regions of Uzbekistan.
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