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Finance 01/06/2012 Net income of IShONCh grows six times in 2011
Net income of IShONCh grows six times in 2011
Tashkent, Uzbekistan (UzDaily.com) -- Net income of IShONCh Interbank Insurance Company LLC grew by almost six times to 31.948 million soums in 2011, the company’s annual report said.

Net sales made up 1.713 billion soums in 2011 (1.209 billion soums in 2010), while prime cost exceeded 1.392 billion soums (1.113 billion soums). Gross income from rendered insurance services made up 320.274 million soums (96.567 million soums) in 2011.

Administrative expenses made up 112.041 million soums (62.926 million soums), other operational expenses – 635.264 million soums (481.924 million soums).

Other income from main activity made up 51.549 million soums (57.584 million soums) in 2011, income as dividends – 42.169 million soums (42.661 million soums). Income as interests exceeded 358.416 million soums (382.813 million soums).

Assets of IShONCh made up 5.915 billion soums (5.365 billion soums), of which 2.193 billion soums (1.327 billion soums) – long-term assets and 3.083 billion soums (2.792 billion soums) – short term investments.

The charter capital of the company made up 3.5 billion soums. Insurance reserves reached 2.33 billion soums in 2011.

IShONCh Interbank Insurance Company started its activity in the insurance market in 1996. The strategic direction of the company is to establish long-term relations with commercial banks, enterprises and organization of real economy to expand complex insurance service.

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