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Finance
12/09/2013
Moody’s affirms Uzbekinvest’s B1 rating
Moody’s affirms Uzbekinvest’s B1 rating
Tashkent, Uzbekistan (UzDaily.com) --
On 30 August, Moody’s Investor’s Services Ltd affirmed its global scale insurer financial strength rating on Uzbekinvest a.s. at B1. The outlook is stable.
Moody’s Investor’s Services Ltd assigned primary rating in January 2009 and affirmed it three times – 2010, 2011 and 2012.
The press service of Uzbekinvest said that strong sides of Uzbekinvest, according to analysts of Moody’s, are high level of capitalization to risks, existence of the government as founder and key role as export-import insurance company, as well as cooperation with AIG, which provides underwriting and other insurance expertise.
Uzbekinvest was founded in April 1994 and reorganized to national export-import insurance company in February 1997. The charter capital makes up US$60 million.
It is fully owned by the Government. Finance Ministry holds 83.3% stake in the company and National Bank of Uzbekistan for Foreign Economic Activity – 16.7%.
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