The state-owned stake in Xalq Sug‘urta, an insurance company wholly owned by Xalq Bank, has been transferred to the State Assets Management Agency (SAMA) for subsequent privatisation. The bank’s supervisory board made the decision on September 21, according to the Corporate Disclosure Portal of the National Agency of Perspective Projects.
The agency received 80 million shares with a nominal value of 1,000 soums each. The total nominal value of the stake is 80 billion soums.
The state-owned company was included on the list of assets to be privatised under a presidential decree dated August 28. Under the decree, state-owned stakes in 62 companies, including Xalq Sug‘urta, are scheduled to be put up for public auction in 2026−2027.
According to Bankers.uz, as of July 1, Xalq Sug‘urta's assets totalled 278.54 billion soums, while its charter capital stood at 80 billion soums. The company generated revenue of 30.12 billion soums in January-June, including net profit of 15.42 billion soums.
Following the transfer of the insurance company to SAMA, Xalq Bank retained five subsidiaries in which it holds stakes of at least 10%: Xalq Lizing, Xalq Faktoring, Xalq Mikromoliya Tashkiloti, United Ventures and Perfect Capital Investment.
According to the Unified State Register of Enterprises and Organisations, Xalq Sug‘urta was registered in May 2011. The company, with charter capital of 80 billion soums, provides non-life insurance services. Its founders are listed as shareholders holding 100% of the company, and its director is Sobir Kurdashevich Mamasoliyev.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
