22% increase for the UZBEK insurers' business in the first quarter

24 June 2014 — Vlad BOLDIJAR
uzbekistan-statisticsUzbek insurers reported an increase of 21.8% in GWP for the first quarter of this year, as compared with the same period in 2013. Thus gross written premiums amounted to UZS 109 billion (or ~EUR 35 million) according to the quarterly market report, recently released by Ministry of Finance of the Republic of Uzbekistan. The value of paid claims totaled UZS 12.7 billion (~EUR 4 million), or 6.1% less y-o-y.

The market portfolio consisted of voluntary insurance - 68% of total, the remaining rest of 32% being represented by the compulsory insurance classes (of which ~22% was related to MTPL and ~5% to the civil liability of the employer insurance class).

Top 3 insurance companies made by the volume of GWP generated 42.4% of total insurance market and consisted of: UZAGROSUGURTA (19.4% market share), ALFA Invest (11.6%) and UZBECKINVEST (11.4%).

Access www.xprimm.com and download the 1Q2014 Uzbek insurance market statistics.

Market portfolio and market ranking (in EUR and UZS):
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Market shares

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