Tashkent, Uzbekistan, Feb. 5
By Demir Azizov - Trend:
The Kafolat State Joint-Stock Insurance Company, one of five largest insurers of Uzbekistan, increased its collection of insurance premiums by 37.3 percent compared to 2014 - 57.8 billion soums, a representative of company told Trend Feb. 5.
In total, the company concluded 634,000 insurance contracts with the total amount of 29.5 trillion soums of insurance liability in 2015 (the growth amounted to 95.3 percent compared to 2014).
The premiums on the main kinds of insurance based on total volume of revenues - compulsory insurance of civil liability of vehicle owners and the compulsory insurance of civil liability of the employer amounted to 15.6 billion soums.
The payments for 2015 amounted to over 14 billion soums, which exceeds the amount of payments for 2014 by 50.2 percent.
In 2015, the company increased its investments by 24 percent - to 40.3 billion soums; the volume of insurance reserves increased by 36.7 percent - up to 46.4 billion soums.
Kafolat was founded in 1997 upon the Uzbek government's decision. The company renders more than 80 types of insurance in over 150 territorial divisions throughout the country.
The largest shareholder is the Uzbek Ministry of Finance with a share of 67 percent in authorized capital.
Other largest shareholders are: the National Bank for Foreign Economic Activity - 11.8 percent, the Navoi Mining and Metallurgical Combine (NMMC) - 7.9 percent, the State Joint-Stock Company Uzagrosugurta - 4.8 percent, Almalyk Steel and Mining plant - 3.4 percent.
In 2014, the company's collected insurance premiums was 42.1 billion soums (the growth amounted to 35.3 percent compared with 2013), the volume of payments increased by 46.5 percent - up to 9.3 billion soums.
The official exchange rate is 2836.87 soums/$1 as of Feb. 5.
