Interfax
October 17

Ingosstrakh has opened its office in Uzbekistan. The presentation took place at Tashkent's International Business Center on October 8, 2003, the company announced in a press-release.

The branch personnel will explore the Uzbek insurance market, hold preliminary talks on projects of mutual interest and look for ways of increasing its operations in the republic.

Rustal Turayev, former general director of Sugurta Biznes insurance company, has been appointed chief of the office. Earlier he held posts with the Tashkent authorities, in the Cabinet and with the state insurance company Uzagrosugurta.

Ingosstrakh has offices in Kazakhstan and Ukraine, and plans to set up representations in Azerbaijan. The company is represented in the insurance markets of Belarus, Kyrgyzstan, Latvia, Lithuania, Ukraine and Estonia where it has subsidiaries or affiliated companies.

The Ingosstrakh management believes that the Uzbek insurance market holds much promise.

In 2002, premium collection increased by 38% in Uzbekistan. The structure of the Uzbek insurance and re-insurance markets, with a high share of optional kinds of insurance and property and liability insurance, reflects Ingosstrakh specialization.

Ingosstrakh comprises 139 organizations with various organizational and legal status, and geographical location.

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