The bank said it bought 1,847 ordinary shares of Universal Sugurta, which makes up 45.71% from total charter capital of the insurance company.

Turonbank bank said it its statement that Universal Sugurta placed 4,100 shares with par value of 731,533.57 soums each. The charter capital of the company makes up 2.999 billion soums.

Universal Sugurta is non-state insurance company, which has been operating in Uzbekistan since 1994. The company was founded on 24 May 1994 and it was named Metro.

In 2003, Swiss investors became founders of the company and it was renamed to joint Uzbek-Swiss insurance company Universal Sugurta. In 2007, Swiss companies exit the company and new companies became founders of the company.

Universal Sugurta works in insurance market in line with license of Finance Ministry from 8 April 2008 in general voluntary and mandatory insurance. Universal Sugurta carries out activity on 13 classes of voluntary and mandatory insurance.

Open joint stock commercial Turonbank founded by the Ministry of agriculture and water management of Uzbekistan and its subdivisions. The bank was founded on 6 June 1990 and it is one of the first commercial banks in Uzbekistan.

Net income of Turonbank made up 3.093 billion soums in 2009 compared to 3.268 billion soums in 2008. The bank’s assets rose from 192.245 billion soums in 2008 to 216.3 billion soums in 2009.

Own capital of Turonbank reached 19.583 billion soums against 17.335 billion soums. In particular, the equity capital grew from 13.251 billion soums to 15.721 billion soums.