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Annual General Shareholders Meeting of the “Kyrgyzinstrakh CJSIC summarized results of the year 2015

 

 

 

 

 

 

 

 

 

 

The activity results of the company for the year 2015 have been considered on the annual General Shareholders Meeting of the “Kyrgyzinstrakh” CJSIC on April 28, 2016.

Thus, upon the results of the past year the “Kyrgyzinstrakh” CJSIC is on the 1st place in collection of insurance premiums – 54.9% from the total volume of collected premiums. Company’s market share increased for 6,1% in comparison with the year 2014.

According to the report, the total amount of insurance premiums collection made up 515,0 million KGS, that is 3,6% higher than in year 2014.

Volume of accomplished indemnifications is one of the important characteristics of insurance company. In 2015 году “Kyrgyzinstrakh” paid insurance indemnifications to its clients to the total amount of 10,5 million KGS or 15,6% from all the insurance indemnifications, accomplished by local companies.

System of reinsurance and diversification of risks operated in the company ensured timely and full claims settlement.

Company has accomplished about 34,7 million KGS of tax deductions to the state budget in 2015.

«We always pay attention to the compliance of image of reliable partner in our activity, - comments Dinara Tezekbaeva, Chairperson of the “Kyrgyzinstrakh” CJSIC. – It is very important to us to provide qualitative insurance coverage of risks in necessary volumes. Employees of the company daily do their best to keep the faith of our clients. Thus, the results of the year 2015 indicate that increasingly more potential insureds choose exactly us”.

Also, the shareholders have taken the decision to increase the authorized capital of the “Kyrgyzinstrakh” CJSIC from 118,1 million KGS to 160 million KGS, that is the guaranty of stability and further growth of the company. The Decision was made in accordance with the company development indicators, as well as for increase of its financial soundness and solvency. Shareholders intend to sustain the development strategy of “Kyrgyzinstrakh” CJSIC further by increase of its authorized capital.

Now the size of authorized capital of the company is 60% higher than regulative norm, stipulated by the Government of the Kyrgyz Republic “On ratification of minimal extends of authorized capital for insurance organizations”, according to which the minimal extend of the authorized capital for insurance companies accomplishing their activity in voluntary and mandatory kinds of insurance since July 7, 2016 cannot be lesser than 100 million KGS.

Increase of authorized capital realized through additional emission of shares to the amount of more than 41 million KGS. The respective changes in authorized capital of the Company registered in the Ministry of Justice of the Kyrgyz Republic and the State Service of Regulation and Supervision for Financial Market under the Government of the Kyrgyz Republic.

«One of the most important criterion of reliability of insurance company is its financial soundness. This if the guaranty of the fact that the company will be able to fulfill all the accepted obligations in relation to its clients and partners. Thus, the increase of authorized capital will provide us additional competitive preference and will become an indicator of financial capacities of the company. We have further strengthening of leading positions in the insurance market of the Kyrgyz Republic, development of the domestic market of insurance services, and provision of qualitative and reasonable insurance services to the population in our plans”, - declared Aijan Mambetova, Deputy Chairperson of the “Kyrgyzinstrakh” CJSIC.

In accordance with the decision of the General Shareholders meeting there was also change of the company’s name made:

Previous full name: Kyrgyz Russian Joint-Stock Insurance Company “Kyrgyzinstrakh”;
Previous shortened name: “Kyrgyzinstrakh” IJSC;
New full name: Closed Joint-Stock Insurance Company “Kyrgyzinstrakh”;
New shortened name: “Kyrgyzinstrakh” CJSIC.

These changes in the name of the legal entity are registered in the order stipulated by the law in the Ministry of Justice of the Kyrgyz Republic. Respectively the stamp and the letterhead of the company were changed. The rest details of the company remain unaltered.

For the years of work “Kyrgyzinstrakh” CJSIC formed a reputation of the reliable and professional insurer. Using the experience and international standards of business processes organization company is developing and strengthens its positions as universal insurer. Fulfilment of its obligations in relation to its clients confirms high solvency of the organization, effective system of risks reinsurance and competent management, realized in the company.


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