The uzA rating reflects high level of solvency. The ability of the company to fulfill its liabilities fully and time and requests of policy holders is rated high. But, changes in commercial, financial and economic conditions can impact to ability of the company to execute its liabilities and requests of clients in higher level compared to companies with high rating.

The stable outlook reflects expectations of Ahbor-Reyting that the company will keep its positions in local insurance market in near future and first of all, due to improving quality and quantitative figures of its activities.

Unipolis has been rendering insurance services in Uzbekistan since 1996. The company has license of the Ministry of Finance of Uzbekistan No. 00123 from 3 September 2009 to carry out insurance activity in general insurance sector on all 17 classes of voluntary nsurance.

The insurance company carries out wide range of insurance services on voluntary insurance. In 2010, the volume of insurance premiums of the company grew by 118.04% to 2.1 billion soums. At the same time, the accepted insurance liabilities rose 2.5 times to 268.1 billion soums.

In 2010, Unipolis observed relatively high growth of insurance premiums. At the same time, the company increased income from financial activity, which impacted to the volume of net income. In 2010, the company’s insurance reserves rose 2.5 times to 29.92% of all liabilities.

Unipolis makes investments based on regular monitoring of liquidity and money inflow. As of the end of 2010, about 18.14% of investment portfolio of Unipolis fell to share of banking deposits at banks and other credit institutes, 31% - securities, 7.41% - loans, 17.38% - real estate and 22.29% - equity investments.

In the reporting period, the structure and volume of charter capital of Unipolis did not change. In 2010, the charter capital was 3.17 billion soums. The level of own capital adequacy made up 69.28%. Along with the growth of own capital of the company, operational leverage of the company increased from 30.76% n 2009 to 64% in 2010.

Ahbor-Reyting believes that operational leverage of Unipolis rated as favourable. At the same time, reserve leverage of Unipolis rose from 17.98% in 2009 to 43.19% in 2010. Ahbor-Reyting believes that Unipolis has high level of support and good opportunities for further increasing own capital due to additional inflow to capital from existing and potential new founders.

Unipolis fulfilled all normative requirements of regulator on paying capacity margin and maximum size of liabilities on separate risks, as well as total size of liabilities of insurer and assets placement.