Fitch has withdrawn the rating of UzAgrosugurta Joint-Stock Company due to its inability to assess its credit portfolio, according to a statement from the rating agency.
Fitch explained that it did not receive the company’s financial documents on time. As a result, the agency will no longer monitor the company’s stability rating or provide analysis.
Experts from the agency highlighted the reduced transparency of UzAgrosugurta and placed its BB- rating on Rating Watch Negative, indicating potential negative changes.
UzAgrosugurta offers over 100 types of insurance services for individuals and businesses. Its main focus is on providing insurance products for rural residents and agricultural enterprises.
In 2023, UzAgrosugurta ranked 15th in the Kursiv Uzbekistan insurance company ranking. It reported a net insurance premium of 132.7 bn soums for the year. The company’s assets amounted to 468 bn soums.
