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Regulation  
Regulation on Oltin Soyabon Public Award in Insurance

1. General provisions

The "Oltin Soyabon" (Golden Umbrella) Public Award in Insurance is a public award presented for the development of the insurance business on annual basis.

The official award ceremony is conducted annually in the second quarter of the current year.

The awards are presented based on the results of the contest at the center of which are the criteria developed by the leading specialists in the field of insurance, as well as the managers of the largest national companies.

2. Goals and objectives

The goal of the Golden Umbrella Public Award in Insurance is to create the conditions fro the fast development of the insurance market of Uzbekistan.

The objectives of the Golden Umbrella Public Award in Insurance are:

- to unite the efforts of the professional participants of the insurance market of Uzbekistan aimed at fast development of the national insurance market;

- to create the conditions for the development of the modern insurance culture in the entrepreneurs and the population;

- to promote modern insurance products in the national insurance market;

- to ensure the transparency of the national insurance market through the involvement of media and informational support of the insurance sector and the latest developments in the insurance business;

- to develop the business and cultural contacts between the professional participants of the insurance market both within the country and abroad.

3. Founders and project support

The founders of the Golden Umbrella Public Award in Insurance are SAIPRO Company and the Association of Professional Participants of the Insurance Market of Uzbekistan.

The Golden Umbrella Public Award in Insurance Contest is conducted with the support of the Ministry of Finance of the Republic of Uzbekistan, the State Inspection for Insurance Supervision under the Ministry of Finance of the Republic of Uzbekistan, the Chamber of Industry and Commerce of Uzbekistan, and the leading professional participants of the insurance market of the country.

4. Organisational structure

The organizational structure of the Golden Umbrella Public Award in Insurance includes the Steering Committee and the Expert Council.

The practical administration of the project is performed by the Steering Committee. The Steering Committee has the right to cooperate with the Expert Council, state and public organizations, agencies and institutions, various unions and associations, professional participants of the insurance market of Uzbekistan, as well as the contestants – candidates for the Golden Umbrella Award on behalf of the founders.

The Steering Committee has the right to introduce changes to the conditions of the contest (the Regulation, the structure of nominations, the number of winners, etc).

The Expert Council of the Golden Umbrella Public Award in Insurance performs the expert evaluation of the contestants, based on which it selects the candidates and the winners. Its decision are guided by the Regulation on the Expert Council of the Golden Umbrella Public Award in Insurance (Appendix No. 1).

5. Contestants

Professional participants of the insurance market of Uzbekistan and media outlets actively operating in this market, as well as individuals who have distinguished themselves in this sphere of activity are eligible to become the contestants for the Golden Umbrella Public Award in Insurance.

6. Selection of winners

The winners of the Golden Umbrella Public Award in Insurance in all nominations of the award are determined and approved by the Steering Committee based on the recommendations provided by the Expert Council (Appendix No. 2).

The Steering Committee has the right to create special awards and prizes for the participants of the contest.

7. Award

The winners of the Golden Umbrella Public Award in Insurance Contest are presented the Golden Umbrella Award and the Diploma of the Winner of the Golden Umbrella Award in Insurance.

8. Rights to use Award logo and other award materials

All rights for the use of the award logo, pictures, video and other materials belong to the Steering Committee of the Golden Umbrella Public Award in Insurance.

With the agreement of the Steering Committee of the Golden Umbrella Public Award in Insurance, contestants may use the logo, pictures, video and other materials covering the award for promotion purposes for the period of one year.

The winners of the Golden Umbrella Public Award in Insurance has the right to use the award logo, pictures, video and other materials covering the Golden Umbrella Public Award in Insurance for promotion purposes without time restrictions.

9. Funding

The preparation and administration of the event for the presentation of the Golden Umbrella Public Award in Insurance is to be funded by the founders from their own funds, as well as sponsorship and other legal monetary and material funds.

The contestants of the Golden Umbrella Public Award in Insurance, when necessary, may be required to cover certain expenses related to the conduct of an independent examination necessary for the identification of the winner of the Golden Umbrella Public Award in Insurance, their participation in the official Golden Umbrella award ceremony, and information services provided.

The sponsors participating in the funding of the Golden Umbrella Public Award in Insurance will be provided advertising services proportional to their contributions.

10. Award ceremony location

The award ceremony of the Golden Umbrella Public Award in Insurance is conducted in the city of Tashkent. In exceptional cases, according to the decision of the Steering Committee, the other regional centers of Uzbekistan may be chosen as the location for the ceremony on the occasion of an anniversary date or a special event.

Approved by the Award Steering Committee
Protocol No. 1 of 10 April 2008

CURRENCY RATES
  29.08.2017 05.09.2017
EUR/UZS 4966.88 9645.48
RUB/UZS 71.18 139.91
USD/UZS 4210.35 8100.00
COMPANY RATINGS
Company Rating
Uzbekinvest uzА++
Alskom uzА+
Asia Inshurans uzА+
Gross Insurance uzА+
Kapital Sugurta uzА+
MARKET LEADERS
4st quarter of 2014  
on premiums
Company Value
Uzagrosugurta 22.9%
Uzbekinvest 17.1%
Kafolat 11.8%
Kapital Sugurta 7.5%
Alskom 7.0%
on payouts
Company Value
Uzagrosugurta 23.0%
Uzbekinvest 18.5%
Uzbekinvest Hayot 14.1%
Kafolat 14.0%
Agro Invest Sugurta 8.1%
on quantity of agreements
Company Value
Uzbekinvest 55.9%
Uzagrosugurta 14.0%
Kafolat 7.2%
Kapital Sugurta 6.5%
Gross Insurance 4.6%

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