Uzbekistan
STATISTICS: UZBEKISTAN, 1H2019: GWP growth exceeded 53%, while paid claims increased by more than 116% y-o-y
From January to June this year, the market showed impressive growth of 53.29% y-o-y. GWP amounted to UZS 1,253.304 billion (EUR 128.78 million), according to data published by the Ministry of Finance of the Republic.
22 August 2019Uzbekistan intends to double insurance market share in GDP
20 August 2019UZBEKISTAN: new insurance company licensed: Perfect Insurance
The Uzbek Ministry of Finance has issued a license to a new insurance company, Perfect Insurance, UzReport news reported on August 12, with reference to the Ministry.
19 August 2019UZBEKISTAN: new Presidential Decree provides for e-policies and increasing insurer minimum charter capital
In Uzbekistan, a new Presidential Decree "On measures to reform and ensure accelerated development of the insurance market of the Republic of Uzbekistan" was adopted on August 2. It involves several changes on the local market, UzReport news reported.
19 August 2019Uzbekistan intends to double insurance market share in GDP 7 August 2019
7 August 2019UZBEKISTAN: Insurance Market Development Agency to be established
At a meeting held July 10 by President Shavkat MIRZIYOYEV, it was decided to reform the State Inspectorate for insurance supervision at the Ministry of Finance by liquidating it and establishing an Insurance Market Development Agency, reports UzReport.
18 July 2019UZBEKISTAN: new company in the life market: ALSKOM-VITA
ALSKOM has registered a new life insurer: ALSKOM-VITA. The license, based on the order of the Ministry of Finance, was issued May 29, 2019, as reported by UzReport news agency.
6 June 2019STATISTICS: UZBEKISTAN, 1Q2019: paid claims saw rapid increase of more than 117%
From January to March 2019, Uzbek insurers collected GWP in the amount of UZS 522.8 billion (EUR 55 million), 37.22% more y-o-y in local currency. Paid claims saw a rapid increase of 117.83%, to UZS 180.16 billion (EUR 18.98 million), as data published by the Ministry of Finance of the Republic show.
16 May 2019UZBEKISTAN: ASIA INSURANCE signing insurance contracts against cotton crop failure
ASIA INSURANCE began concluding insurance contracts against crop failure in the cotton-textile clusters of UZTEX group, the insurer announced.
2 May 2019UZBEKISTAN: Uzagrosug'urta awarded best insurance company of the year
On March 29, 2019, at the XI Tashkent International Conference on Insurance and Reinsurance a national insurance award ceremony (Golden Umbrella award) was held, as UzReport informed.
4 April 2019UZBEKISTAN: INGOSSTRAKH: Uzbekistan has great potential for insurance market development
Within the framework of the International Financial and Banking Forum of CIS member states, held in Tashkent March 27-31, INGOSSTRAKH and INGO Uzbekistan (part of the INGO Group) held a press-briefing on the development of Russian-Uzbek insurance relations, the news agency UzReport wrote.
4 April 2019Uzbek insurance companies collect premiums for over USD 194M
1 April 2019Fees of Uzbek insurance company amounts to over USD3M
1 April 2019UZBEKISTAN: in 2018 life paid claims jumped by 337% y-o-y
Based on the market results for 2018 life GWP were 3 times higher y-o-y and increased to UZS 417.2 billion. At that life paid claims demonstrated an extremely rapid growth (+337.1%) to UZS 264 billion, as UzReport wrote.
7 March 2019STATISTICS: UZBEKISTAN, FY2018: the market jumped by more than 79% in euro y-o-y
In 2018, the Uzbek insurance market went up by 76.31% y-o-y in local currency, and by 79.01% in euro, due to a more favorable exchange rate at the end of 2018, according to the market data, provided by the Ministry of Finance of the Republic.
27 February 2019UZBEKISTAN: GWP of O'zbekinvest Hayot in 2018 amounted to UZS 101.2 billion, preliminary data show
According to the preliminary data, GWP growth rate of O'zbekinvest Hayot in 2018 amounted to 59% (UZS 101.2 billion), as the information agency UzReport wrote.
14 February 2019UZBEKISTAN: MOI insurance broker to open an office in the country
MOI Insurance broker, one of the leaders in risk management, is opening a representative office in Uzbekistan - -MOI Insurance Brokers Asia, according to the Ministry of Finance of the country.
14 February 2019UZBEKISTAN: S&P assigned 'BB-' long-term and 'B' short-term ratings to Uzbekistan, outlook stable
On December 21, 2018 S&P Global Ratings assigned its 'BB-/B' long-term and short-term foreign and local currency sovereign credit ratings to Uzbekistan. The outlook is stable, as the agency informed.
22 January 2019Uzbekistan's insurance firms collect almost twice more premiums
27 November 2018STATISTICS: UZBEKISTAN, 3Q2018: voluntary insurance is still the market driver (+117%)
For 3 quarters Uzbek insurers generated GWP in the amount of almost UZS 1.2 trillion. At that voluntary classes collected UZS 984.4 billion from the total GWP, according to the data of the Ministry of Finance of Uzbekistan.
15 November 2018
