STATISTICS: UZBEKISTAN, 1H2019: GWP growth exceeded 53%, while paid claims increased by more than 116% y-o-y

22 August 2019 — Marina MAGNAVAL
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.

The market share of the voluntary segment increased by about 5% y-o-y, while the share of compulsory insurance, on the contrary, declined.

Paid claims recorded an increase of more than 116%, mainly due to increasing paid claims for voluntary classes. Paid claims for compulsory insurance remained at almost the same level as a year ago.

Of the 20 insurance companies, acting on the local market, TOP-5 occupy over 45%. UZBEKINVEST is the market leader in terms of GWP (UZS 152.92 billion/EUR 15.71 million), followed by UZAGROSUGURTA (UZS 134.78 billion/EUR 13.85 million), Gross Insurance, KAFOLAT and Euroasia Insurance. The leader in terms of paid claims is UZAGROSUGURTA (UZS 28.36 billion/EUR 2.91 million).

Access and download 1H2019 Uzbek insurance market statistics.

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