Moody’s Investors Service assigned ALFA INVEST JSC a financial stability rating of “B2”

On March 31, 2022, in London, the international rating agency Moody’s Investors Service assigned ALFA INVEST insurance company JSC an insurance financial strength rating (IFSR) in national and foreign currency with a level of “B2” with a “stable” outlook.

According to a report by Moody’s Investors Service, the assigned ‘B2’ rating reflects the company’s stable position in the growing insurance market of Uzbekistan, a diversified range of insurance products, strong capitalization in relation to the risks taken, as well as stable historical results of insurance activities.

Today, ALFA INVEST is one of the ten largest insurers in Uzbekistan with a market share of 5 to 7% in dynamics, and is also one of the largest leading private insurance companies in Uzbekistan, providing insurance services since 2003. A stable position in the insurance market of Uzbekistan is supported by the presence of a wide agent network, branches in all regions of Uzbekistan and a rapidly growing portfolio of general insurance.

The financial results of the company are confirmed by the positive opinion of the audit organization Grant Thornton. The growth rate of the company in collecting insurance premiums in the amount of 160.7% and payments made in the amount of 132.3% at the end of 2021 reflect the stable dynamics and sustainable development of ALFA INVEST.

Separately, it should be noted that the company pays special attention to the development of the service and online insurance. So, in 2021, the company’s website launched the possibility of registering an E-OSAGO, which greatly simplified the interaction between customers and the company.

In turn, ALFA INVEST does not stop at the achieved recognized financial results and strives to become an insurance company whose success is based on continuous cooperation with existing clients and expanding cooperation with international insurance and reinsurance markets. The company prioritizes maintaining first-class customer service, innovation in the field of online insurance, professionalism and teamwork.

 

Source: kapital.uz