UZBEKISTAN: state share of KAFOLAT will be sold online

4 June 2020 — Marina MAGNAVAL
The state share (25%) of KAFOLAT insurance company, which is one of the TOP-5 insurers of Uzbekistan, will be sold at an online auction. The price of the share package is USD 2.2 million, as Trend informed with a reference to the State Asset Management Agency.

66.5% of the company's shares belong to the State Asset Management Agency. The main shareholders also include Uznatsbank, Navoi Mining and Metallurgical Complex, Almalyk Mining and Metallurgical Complex, Aloqabank and Asaka Bank, Uzagrosugurta, Uzbekinvest.

This sale is based on the presidential decree from April 29, 2019 aimed at attracting foreign investment to Uzbekistan.

KAFOLAT was established in 1997. Today, the company has branches and insurance centers in all country regions. Its charter capital is USD 3.3 million. In 2019 KAFOLAT ranked 4th in terms of GWP on the insurance market of Uzbekistan.

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