Assigned rating reflects high level of solvency of the insurance company. The ability of the company to fulfill liabilities in time and full volume, as well as meet requirements of clients rated as high, the agency said.

Uzagrosugurta is one of largest insurance companies of Uzbekistan and it renders high-quality insurance services across Uzbekistan. For last several years, developed agents’ network of Uzagrosugurta helps to keep leading position in the country.

In 2010, the scale of business of Uzagrosugurta increased with stable tempo. Number of acting agreements of the company grew in 2010 and reached 4,073 million.

Simultaneously, total collected insurance premiums of Uzagrosugurta increased by 6.41% year-on-year to 28.9 billion soums. At the same time, 99.43% of collected insurance premiums fell to share of direct insurance.

Currently, Uzagrosugurta has the largest branches and agents network, which work in all regions of Uzbekistan. The company had 13 regional directions, 172 district and city branches and 21 subsidiaries, as well as 400 agent offices. High coverage and regular growth of business scale allow Uzagrosugurta to ensure high quality insurance services and one of advantages of the company.

Expanding cooperation with agriculture, industrial and other enterprises help Uzagrosugurta to increase volume of insurance property due to property insurance, as well as other commercial risks of enterprises of agriculture sector. At the same time, the company works and pays attention to increase its corporate clientele base. Simultaneously, developed network of territorial offices and introduction of mandatory insurance helped the company to increase insurance portfolio.

Total assets of the company in 2010 grew by 22.16% to 30.1 billion soums. At the same time, investment portfolio jumped 27.71% and made up 52.89% of assets, which corresponds to Uzagrosugurta strategy on its participation at securities market. To avoid possible risks, Uzagrosugurta invests based on regular monitoring of liquidity and money flow. At the end of 2010, about 54.89% of investment portfolio fell to share of banking deposits, 36.39% to securities and 25.6% to investments into equity capitals, etc.

The charter capital of Uzagrosugurta made up 2.23 billion soums. At the same time, the own capital grew by 5.63% to 7.9 billion soums. Ahbor-Reyting believes that Uzagrosugurta will further have adequate coverage on minimum capital.