In 2003 INGOSSTRAKH established its representative office in Uzbekistan. In 2008 INGO-UZBEKISTAN was created. The company is included into INGO group, which consolidates a range of insurance companies in Europe and CIS.
For 9 months this year growth rates of the insurer's GWP reached 35.4% y-o-y. The growth drivers are voluntary property insurance, cargo insurance, vehicle insurance, travel insurance and civil liability insurance. The company has 14 branches, and for 9 months this year GWP in regions increased by 51.7%. Total company's paid claims also went 2.3 times up from January to September.
In terms of charter capital INGO-UZBEKISTAN is among TOP-5 local insurers providing domestic inward reinsurance, the company entered this segment in 2017. Insurance reserves of the company as of September 30, 2018 reached UZS 25.8 billion (+ 50%), assets increased by 32%. Investment portfolio of the company is highly liquid and consists mainly of bank deposits by 99.7% and shares - by 0.3%. The insurer has a national rating at the level of UzA+, forecast positive.
On the Uzbek market INGO-UZBEKISTAN is leading in travel insurance (40% market share), liability insurance (22%), voluntary vehicle insurance (7%) and property insurance (over 3%), wrote UzReport.
EUR 1 = UZS 9492.35 (30.09.2018)