BAKU, Azerbaijan, Feb. 26
By Klavdiya Romakayeva - Trend:
The volume of sold export services by Uzbekinvest in 2020 increased from 700,000 to $9 million, Trend reports referring to the press service of Uzbekinvest.
According to the information, as a result of the active entry of Uzbekinvest into the international insurance market Lloyd's, the company in 2020 radically expanded its activities and increased the volume of operations in this segment of international insurance.
“This ensured a breakthrough growth in business volumes - more than 13 times compared to the results of 2019,” the message said.
It is reported that 271 reinsurance contracts were concluded with recognized transnational insurance and global reinsurance companies and brokers, including Allianz SE (Germany), Zurich Insurance Group (Switzerland), Tokio Marine & Nichido Fire Insurance Co (Japan), AXA (France), People Insurance Company of China (China), Korean Reinsurance Company (Korea), Sogaz and Ingosstrakh (Russia), Marsh (USA), AON and UIB (Great Britain) and others.
In addition, the geography of export of services was also expanded and risks from 35 states were taken. Also, reinsurance premiums have been increased from 7.3 billion soums ($692,018) in 2019 to 95 billion soums in 2020 ($9 million).
Moreover, the company paid insurance indemnities in the amount of $205,300 under seven contracts accepted for reinsurance during 2020.
It is noted that Uzbekinvest has set goals and objectives for 2021, which include expanding the volume of insurance and reinsurance services in the global market, increasing the efficiency and quality of service, as well as reliability at the level of international standards for clients and foreign partners.
Uzbekinvest, the national export-import insurance company, operates in the market in the general insurance industry and provides insurance for all 17 classes of insurance according to the classifier of insurance activities and has the status of the official insurance agency of the government of Uzbekistan for export and investment insurance.
---
Follow the author on Twitter: @romakayeva
