BASIC INFORMATION:
Uzbekinvest International Insurance Company (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. UIICs 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.
REGULATORY INFROMATION: LICENSE
Uzbekinvest International Insurance Company (UIIC) is regulated by the Financial Conduct Authority (FCA) at the United Kingdom with the regulatory license number of 202923.
PRODUCTS & SERVICES
Companies investing or having export-import transactions with Uzbekistan can face an uncertain economic and political environment.
And any adverse changes in the country can lead to the loss of asset and investments.
In order to protect the interest of foreign investors and trading entities from these threats UIIC offers political risk insurance cover for investment and trade.
Cover
Investment: Confiscation, Expropriation and Nationalization
Trade: Contract Repudiation, Wrongful Calling of Guarantee or Non-Honoring of LC
Features
Policy periods: of up to 7 years
Capacity: of up to US$10 million per risk
Indemnity: up to 100%
Non-cancellable coverage for the full policy term except in the case of non-payment of premium
Client Base
* Medium and large sized corporations with overseas subsidiaries or joint ventures
* Companies investing in Uzbekistan for the first time
* Financial institutions and other institutions with cross-border exposure
* Project contractors
* Importers and exporters
The description herein is a summary only. It does not include all of the terms, conditions and exclusions of the coverage and services described. Certain coverage and services may not be available in all jurisdictions. Insurance coverage is subject to underwriting review and approval.
INSURANCE SERVICES
They provide the following insurance policy
· Political Risk Insurance
· Investment and Trade Insurance
· Insurance Glossary
