In its press release, the rating agency highlighted that the company’s strong balance sheet resilience driven by robust capitalization and the highest assessment of capital adequacy, combined with a conservative investment policy (including asset allocation in international markets with a “AAA” credit rating), and improvements in risk analysis, have significantly enhanced underwriting results.
As a result, the combined ratio for 2023 was 85%. These factors, along with development of inward reinsurance (which accounted for 60% of GWP), have enabled Uzbekinvest to secure a leading position on the insurance market of Uzbekistan.
Confirmation of the international rating by A.M. Best reflects the company’s high creditworthiness, creating favorable conditions for active expansion of its operations in international insurance and reinsurance markets.
It is worth noting that Uzbekinvest is currently the first and only financial institution in the country to hold such a rating from A.M. Best international rating agency.
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