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Company History

• Imkon Sug'urta Insurance Company was founded in 2019 under Joint-Stock Commercial Mortgage Bank Ipoteka Bank, one of Uzbekistan’s largest universal banks. From the outset, the company’s operations were closely linked to the banking group. This enabled it to build a product portfolio around insurance supporting mortgage, consumer and corporate lending, while also developing independent compulsory and voluntary lines of insurance.

  A key milestone in the company’s development was the change in its legal form. To bring its operations into compliance with Law of the Republic of Uzbekistan No. 730 ‘On Insurance Activity’ dated 23 November 2021, the company was converted from a limited liability company into Imkon Sug'urta Joint-Stock Company. On 25 February 2022, the Ministry of Finance of the Republic of Uzbekistan issued Licence No. СФ-00042 authorising the company to provide voluntary and compulsory insurance across 17 classes of general insurance.

  Today, Imkon Sug'urta is a joint-stock company with charter capital of UZS 80 billion, operating across 17 classes of general insurance, excluding life insurance. The company’s principal shareholder is Ipoteka Bank, which has been part of OTP Group—one of the leading banking groups in Central and Eastern Europe—since 2023. Being part of a major international financial group provides the company with a strong capital base, access to modern insurance technologies and high standards of corporate governance.

  The company follows a phased development strategy. At the initial stage, its efforts are focused on strengthening its position in the insurance market by expanding compulsory and voluntary insurance and implementing reinsurance arrangements in the domestic market. Going forward, the company plans to enhance its insurance operations by developing employee expertise and cooperating with international insurance companies, while introducing new and improved insurance products for corporate and individual customers in the Republic of Uzbekistan.