UZBEKISTAN: Asia Insurance assigned uzA++ rating, stable outlook

2 April 2020 —
The rating agency of Uzbekistan, Ahbor-Reyting, based on the results of monitoring the company's activities in 2019, assigned Asia Insurance a solvency national rating of uzA++ with a stable outlook, the insurer reports.

The rating uzA++ means the highest solvency of a company with positive perspectives and is the highest national rating on the national rating scale. This rating can be assigned to insurance companies that have an extremely high ability to timely fulfill their obligations to policyholders.

The rating agency Ahbor-Reyting is the first rating agency of Uzbekistan, established in 1995 to provide rating services to commercial banks, insurance and leasing companies, issuers of corporate bonds, micro-credit and valuation organizations. In December of 2005, the rating agency became the first Central Asian member of the Association of Asia credit rating agencies (Association of Credit Rating Agencies in Asia - ACRAA) and currently works with leading international rating agencies in Asia, Europe, America and the CIS.

All applicable rating procedures and methodologies of Ahbor-Reyting are developed under the auspices of ACRAA and are based on the implementation of international best practices, according to the agency's website.

According to 2019 market results, Asia Insurance was included into TOP-10 local insurers and took a market share of 4.16%.