On 18 December 2009, the Cabinet of Ministers of Uzbekistan signed a resolution “On introduction of changes to the resolution of the Cabinet of Ministers “On formation of joint insurance companies Uzbekinvest International, UZ-AIG and AIG-Uzbekinvest Agency” from 23 November 1994”.

The resolution said the shareholders of UZ-AIG adopted decision on changing name of the company to joint enterprise with limited liability insurance company Chartis Uzbekistan.

Closed Joint-Stock company Uzbek-American Insurance Company UZ AIG was created by American International Group, Inc. and National Bank of Foreign Economic Activity of Uzbekistan in line with the resolution of the Cabinet of Ministers No. 565 dated 23 November 1994.

UZ AIG is the first international insurance company registered in Uzbekistan. Its charter capital is $2 million, of which 51% share possessed by AIG and 49% share held by NBU.