14.03.2022

During the October 2020 events, unknown perpetrators broke into the facilities of Alliance Altyn at the Jeruy deposit, causing serious damage to the company. Кроме комплекса имущества, было полностью уничтожено новое дорогостоящее оборудование, застрахованное ЗАО «Страховая компания «Кыргызстан».

Kyrgyzstan IC calculated the losses of "Alliance Altyn" and decided to pay it an insurance indemnity. The corresponding agreement was signed on March 9 by the heads of Kyrgyzstan IC and Alliance Altyn LLC. This agreement is a guarantee that Kyrgyzstan IC will fully meet its obligations. It has already paid the first tranche. This event is an example of the mutually beneficial cooperation of companies that play an important role in the development of the economy and the entire state.

At the signing ceremony, CEO of Alliance Altyn LLC Sabir Rakhmatov stressed that the mining industry plays an extremely significant role in the economy of the Kyrgyz Republic. And Alliance Altyn contributes to its development. "Currently, our company is actively working on the establishment of a sustainable production process. This guarantees the creation of additional jobs and timely tax payments to the country's budget," he said. "Payment of insurance indemnity from Kyrgyzstan Insurance Company contributes to the smooth functioning of our enterprise, particularly drilling operations".

Alliance Altyn LLC is satisfied with the fact that Kyrgyzstan IC is fulfilling its obligations despite the high amounts of insurance reimbursements. Kyrgyzstan IC has shown itself as a reliable partner and a company with high business standards. "We believe that this will be a precedent for other insurance companies of the KR, which insure the property of Talas Gold Mining Plant. Overall, this event is viewed positively among investors of large-scale projects in the Kyrgyz Republic," Sabir Rakhmatov said.

"We work very closely with the mining and processing industries of the Kyrgyz Republic. Almost all the largest subsoil users are among our clients," said Daniyar Mederov, Deputy CEO of Kyrgyzstan IC. "We adhere to the highest standards of business conduct, which is an important factor of our clients' loyalty. We believe that a large indemnity to the most important industrial complex of the country will increase confidence not only in ourselves but also in the entire domestic insurance market."

Alliance Altyn LLC received a license for the exploitation of Jeruy in 2015 for a period of 20 years. Ore mining at Jeruy began in November 2019, with the gold processing plant commissioned in March 2021. Alliance Altyn pays all taxes and fees in a timely manner, and implements many social projects.

Kyrgyzstan Insurance Company is the oldest enterprise in the insurance market of the Kyrgyz Republic, operating for more than 30 years, and bearing full financial responsibility for its obligations to customers. It is marked by a high level of financial stability, significant volumes of own funds and the presence of reliable reinsurance partners.