UZBEKISTAN: in 2020 Alfa Invest showed growth in financial performance

11 March 2021 — Marina MAGNAVAL
In 2020, Alfa Invest insurance company recorded growth of the key financial indicators - significantly increased reserves and assets, maintained a high level of solvency, increased its charter capital to UZS 50 billion (~EUR 3.91 million*), according to Inessa AKHMETOVA, General Director of Alfa Invest, reported.

As Inessa AKHMETOVA noted, the level of demand for insurance services in Uzbekistan is growing and, despite the pandemic, new offers appear on the market and companies are strengthening their positions. The main indicator of the activity of Alfa Invest, according to its general director, is paid claims - total volume of the company's paid claims in 2020 exceeded UZS 16 billion.

Over 18 years of operation, Alfa Invest has been demonstrating stable growth. The insurer ended 2020 among the TOP-10 non-life insurance companies in Uzbekistan, ranking 8th (out of 30 non-life insurers) in terms of GWP collected.

In 2021, the company plans to update the logo, introduce a new corporate identity, renew its offices, agent network and insurance products, develop insurance literacy among the population by increasing trust and loyalty to the insurance industry and introducing new online products and services that will simplify the process of interaction between the insurance company and customers from purchasing an insurance policy to claim settlement.

*at the following exchange rate:

1 EUR = 12786.03 UZS (December 31st, 2020)

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