The company said that general meeting of the shareholders of INGO-Uzbekistan adopted decision to increase charter capital through capitalization of undistributed income.

On 1 July 2013, Ministry of Justice of Uzbekistan registered changes to the charter of the insurance company and now the charter capital of the company makes up 2.591 million euros.

The meeting also reviewed activities of INGO-Uzbekistan in 2012. It was noted that it collected insurance premiums for 6.2 billion soums in 2012, which rose by 47.9% year-on-year. The growth was achieved due to such products as travellers insurance, automobile insurance and voluntary medical insurance.

The company collected 1.7 billion soums of insurance premiums in the regions of Uzbekistan, which grew 3.2 times year-on-year.

The volume of insurance pay-outs made up 1.35 billion soums or 58% more year-on-year. The company paid 0.55 billion soums on voluntary medical insurance, 0.33 billion soums – automobile insurance, 0.24 billion soums – travellers insurance, property insurance – 0.14 billion soums and other insurance products – 0.09 billion soums.

Total insurance reserves reached 3.15 billion soums at the end of 2012. It rose by 48% year-on-year.

Total volume of investments into economy of Uzbekistan grew by 21% year-on-year to 10.5 billion soums in 2012.

The assets of INGO-Uzbekistan made up 13.2 billion soums or grew by 19.2% year-on-year.

The presidential resolution “On additional measures on further increasing financial sustainability of insurers” from 31 May 2011 sets new minimal size of the charter capital to insurance companies. In particular, the insurance company, which works in general insurance market, should have charter capital at the size of 1.5 million euros, life insurance – 2 million euros, mandatory insurance – 3 million euros and reinsurance – 6 million euros in equivalent.