SAIPRO ASSIGNS IC "GARANT INSURANCE GROUP"’S RATING AT "UZA"
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Information-rating Agency SAIPRO has confirmed IC "Garant Insurance Group"’s rating for 2016 at "uzA" (High financial reliability).
In 2016 the company achieved considerable high growth rate of insurance premiums, which accounted for 50.3%. This growth allowed the company to improve its market position and has had a positive impact on the financial results of the company. In addition, the growth in revenues was mainly due to increase in volume on mass types of insurance, which also has a positive effect on the stability of the insurance portfolio. In 2016, insurance payouts increased dramatically to 91%. Despite the increase in the loss ratio in 2016, this figure is at the low level that has no adverse effect on the condition of the company.
The rapid growth of insurance premiums in 2016 has led to a significant increase in the company’s assets, which increased 44.7%. The composition of the company’s assets maintained their stable condition.
Profitability indicators of the company also remained in good condition.
UzReport
