Standard Insurance enters mandatory insurance market of Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- Standard Insurance LLC, insurance company in Uzbekistan, received license from the Ministry of Finance of Uzbekistan to work in mandatory insurance market of Uzbekistan.

The license allows the company to render insurance services in mandatory insurance of civil liability of employees, Standard Insurance said.

Standard Insurance is young company, which was founded in Uzbekistan in October 2008. Open joint-stock commercial bank Credit Standard possesses 100% share in the insurance company. The charter capital of Standard Insurance is 1.5 million euros.

The company said it is attracting financial resources of foreign insurance companies and largest local insurers.

Standard Insurance holds licenses on 16 classes of insurance types and new license will allow to expand the company’s activity and to attract new strategic partners and customers, the company said.