Information-rating agency SAIPRO confirmed the financial reliability rating for 2016 of Sug'urta O'z insurance company at the level of uzA (High financial reliability).
The agency notes that the company was able to achieve improvement of its indicators and the volume of aggregate premiums grew by 36.6% compared to the previous year in 2016. The insurance portfolio of the company has maintained its level of diversification. In addition, the company paid out 2.4 times more than the previous year. Nevertheless, the level of unprofitability is low relative to the average market indicator and does not adversely affect the company's comprehensive performance evaluation.
The company actively uses reinsurance instruments in its activities. Reinsurance activity has a stabilizing effect on the company's insurance portfolio and therefore has a positive impact on assessment of the stability of the company's insurance portfolio.
In 2016, asset growth was achieved mainly due to increase in insurance reserves and in part due to the growth in retained earnings. In general, the composition of assets is evaluated as stable and there has been some improvement in the current level of liquidity indicators. In connection with the increase in the volume of insurance reserves some changes have taken place in liabilities as well, however, the share of equity in liabilities remains prevalent. In this regard, company is encouraged to develop the activities of mass types of insurance that would more fully utilize existing financial capacity.
In 2016, the main indicators of the company's financial results improved relative to the previous year. It is noted that the growth of the company's financial results lead to an increase in profitability assessment.
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