Insurance Company KAFOLAT celebrated its 20th anniversary on March 14. It was on that day in 1997 that the organization was founded, which took one of the leading places in the insurance market of our country. Today the charter capital of the insurer is almost 32 billion soums and the company has 192 territorial units. All this allows the "Insurance Company KAFOLAT" to provide quality services to legal entities and individuals throughout the country. This and many other data was given at a press conference with the participation of management, senior officials, veterans and partners of the company.
Insurance company KAFOLAT has turned into a universal insurer over the years of its work. It was noted at the press conference that today the company represents a wide range of insurance services that meet the needs of each client.
"When the company was founded, we provided services only for 25 types of voluntary and compulsory insurance, and to date the company renders services for almost 100 types of compulsory and voluntary insurance," press secretary of Insurance Company KAFOLAT JSC, Mehribonu Rayimzhonova said.
Over 20 years of operation, Insurance Company KAFOLAT has ensured a positive dynamics of financial and economic performance indicators. For example, in 1998 it collected insurance premiums totaling 445.9 million soums, while it concluded more than 600 thousand insurance contracts worth 75.3 billion soums in 2016. At the same time, the volume of insurance premiums increased by 168.9 times in comparison with 1998.
Moreover, timely and full fulfillment of its obligations to the clients on the concluded insurance contracts remains one of the company's priorities. The conference stressed that specialists pay special attention to improving the quality of claims consideration.
Thus, the company made payments exceeding 38.5 million soums in 1998, while the insurer had made insurance payments on 6806 applications for 17.1 billion soums by the end of 2016. Thus, this indicator increased by more than 450 times in comparison with the same period of 1998.
- Insurance payments mainly fall on compulsory types of insurance. They are compulsory insurance of civil liability of vehicle owners, compulsory insurance of civil liability of the employer. In addition, according to the results of 2016 the company paid 1 billion 100 million soums for voluntary medical insurance," Mehribonu Rayimzhonova said.
The company's success is also reflected in the ratings assigned to it. For example, according to the results of 2015, SAIPRO Information rating agency again confirmed the reliability rating of Insurance Company KAFOLAT on the national scale at UzA + level. The insurer was also awarded certificates of the British company ISOQAR Ltd for compliance of the company's business structure with the high standards of ISO 9001: 2015.
- I would like to note that the International rating agency Fitch Ratings awarded international financial rating "B +" with the forecast "Stable" to the Insurance Company KAFOLAT in December last year, - Mehribonu Rayimzhonova added.
All this proves that Insurance Company KAFOLAT occupies a strong place in the insurance market of Uzbekistan. It managed to win the trust of both individuals and legal entities throughout the country by fulfilling timely the obligations undertaken to clients.
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