While any investment in any market carries an element of risk, this risk is usually assessed purely on business or commercial terms. With this in mind, in England registered political risk insurance company, Uzbekinvest International Insurance Company Limited (UIIC) has been set up in November 29, 1994 to offer political risk insurance to potential and existing investors, thereby removing many of the uncertainties of investing in the unknown market.
The main objective of the company is to offer political risk insurance to encourage new foreign investment in the infrastructure, natural resource development and industrial production in Uzbekistan. Both new “Greenfield” investments and investment in the state assets or enterprises which are being converted to foreign private ownership are being sought in the interest of the economic development of the country.
UIIC’s authorized share capital is USD 50,000,000, 100% of which is owned by Uzbekinvest National Export-Import Insurance Company, biggest insurance company not only in Uzbekistan but in Central Asia too. The company has only one main product line. It provides insurance for foreign investments against political risks in Uzbekistan.
Since creation of the company till the mid-September 2009 it was a joint venture company with the American International Group Inc. (AIG), and with more than 18 years no-claims partnership with AIG, UIIC became strong and well-known company on political risks’ insurance market. UIIC is open for strategical partnership.
All business insured by UIIC is accepted on its behalf by an underwriting agency – AIG Uzbekinvest Limited, established for this purpose. The use of such an agency enables the company to be established in a cost-effective way and to employ the considerable world-wide resources of AIG to assist in the production of business. Underwriting process, claim handling and other insurance issues are affected in the United Kingdom. AIG Uzbekinvest Limited is a member company of AIG.
UZBEKINVEST NATIONAL EXPORT-IMPORT INSURANCE COMPANY (UNEIIC) is the official insurance agent of the Government of the Republic of Uzbekistan in export credit and investments insurance, established in January 1994. Being the largest insurance group of companies in Uzbekistan, UNEIIC offers a full spectrum of insurance and reinsurance products to domestic and international markets.
AMERICAN INTERNATIONAL GROUP INC. (AIG) is the leading US-based international insurance organization. With a history of growth and profitability that has set standards for insurance industry, AIG’s balance sheet, cash flow and financial conditions are extremely strong. AIG consistently earns the highest ratings from the principal rating agencies.
Company's full registered name:
Uzbekinvest International Insurance Company Limited
Registered in England number: 2997845
Company's registered address:
The AIG Building, 58 Fenchurch street,
London EC3M 4AB, United Kingdom
Dolfin Financial Limited
Credit Suisse AG
Who regulates UIIC in the UK?
Uzbekinvest International Insurance Company Limited (UIIC) is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority of the United Kingdom (FRN: 202923). This information can be checked by visiting the Financial Services Register.
Solvency & Financial Condition Reports, in accordance with PRA Rules & the Solvency II Regulations, are available here.
Senior Management History
Honorary Chief Executive Officers:
Oybek N. Khalilov (1994-1998)
Nodir K. Kalandarov (1998-2003)
Shokhrukh A. Abdurashidov (2003-2008)
Shavkat E. Inamov (2008-2015)
Hasanjon Mamadjonov (2015- )