Senior manager of Department of mandatory insurance of civil liability of vehicle owners of Kafolat Azamat Rakhmatullaev said that the company issued 190,391 policies in nine months of 2012 in line with preliminary data.

According to Rakhmatullaev, insurance liabilities of the company on MIACL at the end of September 2012 made up over 1.057 trillion soums.

He said that number of insurance payouts made up 546 in nine months of 2012 and the volume of payouts – 713.736 million soums.

Azamat Rakhmatullaev underlined that since the law “On mandatory insurance of civil liability of vehicle owners” (22 October 2008) came into force, the company stably takes second place on the volume of operations in this market segment. Since October 2008, the company realized 840,000 MIACL policies.

He said that share of Kafolat on collection of insurance premiums from MIACL made up 17-18% in total market volume in average in last several years. He said that 68% MIACL agreements were signed with individuals.

According to him, the company had paid 3.4 billion soums since October 2008 on MIACL. In 2011, share of Kafolat in total MIACL payouts in Uzbekistan made up 18.3%.

Azamat Rakhmatullaev added that the company considers 3-4 insurance applications on MIACL each day.

The law “On mandatory insurance of civil liability of vehicle owners” came into force on 22 October 2008. According to the law, all vehicle owners should buy mandatory insurance policy. Insurance sum on a policy does not exceed US$3,000.

State joint stock insurance “Kafolat” (OJSC) was created on 14 March 1997 in line with the resolution of the President of Uzbekistan. The charter capital currently makes up 8.2 billion soums.

Currently, the company has 139 regional branches, including 15 branches, 38 departments and 86 agencies across Uzbekistan. The company also has over 1,000 agents.