Uzbekistan
UZBEKISTAN: senators approved the law "On insurance activities"
At the meeting of the Oliy Majlis (Supreme Assembly of Uzbekistan), the senators approved the law "On insurance activities", which provides for "revitalization" of the insurers' activities, as well as development and expansion of the infrastructure of the insurance market, UzReport.news informed.
31 August 2021STATISTICS: UZBEKISTAN, 1H2021: GWP growth exceeded 67% y-o-y (in local currency)
In the first half of 2021, the insurance sector of Uzbekistan grew by more than 67%, GWP reached UZS 1,697.91 billion (EUR 134.44 million), according to the data published by the Ministry of Finance of the Republic.
23 August 2021UZBEKISTAN: KAFIL SUG'URTA - winner in the category "The fastest growing non-life insurance company in Uzbekistan 2021"
According to the 2020 results, the leading online magazine "Global Banking & Finance Review" selected KAFIL SUG'URTA as the winner in the nomination "Fastest Growing General Insurance Company Uzbekistan 2021", the insurer reports.
27 July 2021UZBEKISTAN: a pilot project of state health insurance has been launched
Uzbekistan, with the support of the WHO European Regional Office, has launched a pilot project in the Syrdarya region to provide the population with health services. The provision of public health insurance is part of nationwide health sector reforms announced in 2020, the WHO Regional Office for Europe announced on July 9.
15 July 2021UZBEKISTAN: UNDP helps develop the insurance sector in Uzbekistan
UNDP, together with the Agency for the Insurance Market Development at the Uzbek Ministry of Finance, organized a seminar on June 24, 2021, during which the results of the diagnostics of the development of inclusive insurance and risk financing in Uzbekistan were presented, UzDaily.uz reports.
5 July 2021STATISTICS: UZBEKISTAN, 1Q2021: the market is recovering, growth exceeded 33% y-o-y (in UZS)
In the first quarter of 2021, the insurance market of Uzbekistan grew by more than 33% y-o-y in local currency, to UZS 669.36 billion (EUR 54.44 million), according to the data published by the Ministry of Finance of the Republic.
3 June 2021UZBEKISTAN: Gross Insurance launched e-policies for compulsory motor insurance
Gross Insurance, one of the TOP-3 non-life insurers in Uzbekistan, has started sales of electronic policies for compulsory motor insurance, gazeta.uz reports.
26 May 2021UZBEKISTAN: Fitch Rates Agros Hayot at B+, Outlook Stable
Fitch Ratings assigned Agros Hayot an Insurer Financial Strength (IFS) Rating of 'B+'. The Outlook is Stable, according to the agency's website.
20 May 2021UZBEKISTAN: implementation of a pilot project for health insurance mechanisms to begin from July 2021
In Uzbekistan, effective measures are being taken to improve quality of medical services provided to the population and to create conditions for the financial protection of citizens.
5 May 2021UZBEKISTAN: one of the largest losses in the history of the Uzbek insurance market settled by Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers
Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers settled a USD 2.9 million fire loss at a cotton pulp mill in Tashkent region of Uzbekistan, according to Malakut.
21 April 2021UZBEKISTAN: Asia Insurance: 2020 - a year of development for insurers
The 2020 crisis affected all spheres of the economy in one way or another. Some types of business fail completely, some, on the contrary, receive an additional incentive for development.
12 April 2021UZBEKISTAN: in 2020 UZBEKINVEST retained its leading position, Gross Insurance became one of the largest insurers with 58% increase in paid claims
At the end of 2020, UZBEKINVEST retained its leading position in the insurance market of Uzbekistan. According to the Ministry of Finance, the insurer's GWP for 2020 amounted to UZS 262 billion (~EUR 20.49 million*), the client base grew by 38%, Gazeta.uz writes.
30 March 2021UZBEKISTAN: in 2020 Alfa Invest showed growth in financial performance
In 2020, Alfa Invest insurance company recorded growth of the key financial indicators - significantly increased reserves and assets, maintained a high level of solvency, increased its charter capital to UZS 50 billion (~EUR 3.91 million*), according to Inessa AKHMETOVA, General Director of Alfa Invest,
11 March 2021STATISTICS: UZBEKISTAN, FY2020: life insurance lost more than 10% of its share in the market portfolio in a year
The insurance sector of Uzbekistan ended 2020 with a 4.50% GWP drop y-o-y (in local currency). Total amount decreased to UZS 2,209.67 billion (EUR 172.82 million*), according to data published by the Ministry of Finance of the Republic.
25 February 2021UZBEKISTAN: ASIA Insurance: COVID-19 pandemic and forced quarantine showed the importance of digitalization and process automation
ASIA Insurance did not stop providing services during the quarantine period with insurance policies being sold and delivered, insured events being considered, obligations being fulfilled.
19 February 2021UZBEKISTAN: KAFIL SUG`URTA has been assigned a new solvency rating on the national scale at uzA+
KAFIL SUG'URTA has been assigned a new solvency rating on the national scale at "uzA+", which means an extremely high level of solvency for an insurance company, the insurer said.
4 February 2021UZBEKISTAN: a new insurer SHARQ-SUG'URTA on the market
New insurer, SHARQ-SUG'URTA, entered the insurance market of Uzbekistan, UzReport informed on 28 December.
7 January 2021UZBEKISTAN: the sale of electronic MTPL policies to begin on March 1, 2021
From March 1, 2021, the sale of electronic MTPL policies will begin in accordance with the adopted Government decree "On additional measures to improve the procedure for providing electronic insurance services," UzReport informed.
17 December 2020STATISTICS: UZBEKISTAN, 3Q2020: Decline in voluntary life insurance made the market decrease by more than 11% y-o-y
Total market GWP at the end of the third quarter of 2020 decreased by 11.43% y-o-y, to UZS 1,587.71 billion (~EUR 132.27 million*). It should be noted that the decline was only due to the fall in life insurance, according to the data published by the Ministry of Finance of the Republic.
10 December 2020UZBEKISTAN: S&P assesses the industry and country risks of the non-life sector in Uzbekistan as high
S&P Global Ratings assesses the industry and country risks of the non-life sector in Uzbekistan as high - as in Russia, Azerbaijan, India, Kenya and Turkey, according to the agency's report
23 November 2020
