OREANDA-NEWS. On September 26, 2008 Russian insurance company Ingosstrakh officially announced launch of the activity of its subsidiary in Uzbekistan – Ingo-Uzbekistan.

Russia's Ingostrakh signed a deal on purchase of 76% of Standard Insurance Group. The Russian company acquired the Uzbek firm in line with its expansion plans to priority markets of the CIS. Earlier, Standard Insurance Group was renamed into Ingo-Uzbekistan.

On 16 September 2008, Ingo-Uzbekistan received license from State Insurance Inspectorate of Uzbekistan on 14 types of insurance. Charter capital of the company is USD 1 million. Ingostrakh owns 76% of shares, while others owned by Uzbekistan Havo Yollari, Bukhara Oil Processing Plant and other legal entities and individuals.

Standard Insurance Group founded in January 2005. Total volume of collected premiums made up 9.3 billion soums in 2007 or 12.8% of total collected premiums of the Uzbek insurance market. The main share of premiums fell to share corporate clients.

Ingo-Uzbekistan's charter capital is USD 1 million. Ingostrakh owns 76% of shares, while others owned by Uzbekistan Havo Yollari, Bukhara Oil Processing Plant and other legal entities and individuals.