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Finance 23/04/2012 Alskom’s net income drops to 622.077m soums in 2011
Alskom’s net income drops to 622.077m soums in 2011
Tashkent, Uzbekistan (UzDaily.com) -- Net income of Alskom open joint stock insurance company fell from 645.068 million soums in 2010 to 622.077 million soums in 2011, the audited balance sheet of the company said.

The company said it collected insurance premiums for 9.7 billion soums in 2011, of which 6.5 billion soums were collected on voluntary insurance products and 3.2 billion soums on mandatory insurance services.

In 2011, the company collected insurance premiums worth 6.9 billion soums from regions of Uzbekistan, which rose by 37.6% compared to 2010. Share of Alskom in the insurance market reached 4.2% in 2011 (4.1% in 2010).

Aggregate income of the company made up 7.3 billion soums in 2011, of which 6.8 billion soums were from insurance activities and 511.5 million soums from financial activities.

The company’s assets grew from 10.67 billion soums in 2010 to 13.87 billion soums in 2011. Long-term assets increased from 6.8 billion soums to 9.655 billion soums, while current assets rose from 3.88 billion soums to 4.215 billion soums.

Own capital of Alskom made up 6.495 billion soums in 2011 against 5.935 billion soums in 2010. The charter capital was formed at the size of 3.737 billion soums.

According to the company, insurance reserves rose from 4.294 billion soums in 2010 to 6.851 billion soums in 2010.

The company’s liabilities rose from 442.52 million soums to 523.281 million soums in the reporting period.

Alskom has been working in Uzbekistan’s insurance market since 1996 and currently it is one of the leading insurance companies in Uzbekistan.

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