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Finance 03/05/2010 Madad renders insurance services for 125bn soums
Madad renders insurance services for 125bn soums
Tashkent, Uzbekistan (UzDaily.com) -- Agency for insurance protection of private entrepreneurship and small businesses Madad OJSC rendered insurance services for 125 billion soums in 2009.

The insurance company said it signed 15,340 insurance agreements in 2009, which is up by 12.4% year-on-year.

During 2010, the income of the agency made up 1.039 billion soums with the growth rate of 14.4%. The income rose over twice compared to 2007.

The income from main activity comprised 640.1 billion soums, or 9.2% more year-on-year. Income from use of free funds reached 399.5 million soms, or 23.6% year-on-year. Net income of Madad made up 60.979 million soums.

The agency said it paid payouts on 35 insurance agreement for 26.7 million soums, which makes up 60.4% from 2008 level.

The company re-insured liabilities on 24 agreements for 7.4 billion soums. The company said its insurance reserves rose by 42.7 million soums in 2009 to 504.1 million soums.

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