Uzbekinvest retained the highest rating "(UZ)AAA" from SNS RATINGS
On October 21 of this year, the rating agency SNS Ratings announced the affirmation of the highest solvency and reliability rating of the Uzbekinvest insurance company at the "(uz) AAA" level, with a "stable" outlook.
"Uzbekinvest" confirmed the highest rating of "(UZ)AAA" from SNS RATINGS
The "(uz) AAA" rating assigned to "Uzbekinvest" is the maximum rating and is awarded to organizations with a high ability to fulfill their obligations and the requirements of insurance policyholders in a timely manner and in full.
The rating agency highlights a number of positive factors influencing the rating level:
- strong institutional support;
- high level of capitalization and scale;
- flawless transparency;
- reduction in underwriting loss ratio.
The agency expects the maintenance of a strong liquidity position and the retention of a high level of capitalization of the company. Further organic growth in premium collection is also forecasted, mainly in the corporate segment. In addition, the company has the potential to further increase its net operating margin.
Over the past 5 years, the company has demonstrated dynamic growth in key performance indicators:
- gross collected insurance premiums grew from 385.0 billion to 1.6 trillion UZS, increasing by 4.2 times;
- premiums collected in foreign insurance markets (export of services) grew from 15.0 to 65.0 million USD, increasing by 4.3 times;
- the number of partner countries increased from 65 to