STATISTICS: TAJIKISTAN, 1Q2019: compulsory insurance shows impressive growth amid falling GWP in voluntary segment

13 June 2019 — Marina MAGNAVAL
In 1Q2019, GWP of the Tajik insurance market increased by about 4% y-o-y in local currency. At the same time, compulsory insurance showed impressive growth amid falling GWP of the voluntary types, as the data, published by the National Bank of Tajikistan, show.

Due to a more favorable exchange rate of somoni against euro (compared to the end of March 2018), the market growth in EUR reached 6.54%.

Compulsory types occupy about 38% of the market (vs about 32% a year ago), while the share of voluntary insurance was about 62% (vs 68.07% in 1Q2018), which indicates a decrease of the voluntary insurance types on the market and increase of the compulsory ones.

Market paid claims in local currency went up significantly (by almost 31%). The major increase of paid claims fell on voluntary insurance (+40.51% y-o-y). Paid claims of the compulsory segment, however, dropped.

The total number of insurance contracts remained mostly unchanged (457 thousand units vs 445 thousand a year ago). A decrease in the number of contracts was observed only in the voluntary segment.

Total number of the market participants as of the end of 1Q2019 was 18. The leader in terms of charter capital is still SPITAMEN-Sugurta, and the leader in terms of obligations is Surugtai avvalini milli.

Access and download 1Q2019 Tajik insurance market statistics.

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