At the same time, compulsory life insurance has demonstrated the highest growth rates in the market. Non-life insurance remained in the positive area also thanks to the growth in compulsory types, while voluntary non-life insurance remained practically unchanged (in local currency, +0.21%).
The market paid claims in general decreased by more than 15%, also due to their decline in voluntary life insurance. At the same time, paid claims in the rest of the market segments recorded significant growth y-o-y.
Out of 28 non-life insurers in Uzbekistan, Gross Insurance took the leading position, having moved up from its third place a year earlier. UZBEKINVEST moved down and ranked second, while UZAGROSUGURTA ranked third. In the life insurance sector, which is represented by 8 companies, New Life Insurance is still leading, although the drop in life insurance market volumes led to a decrease in the company's market share by almost 11%.
* at the following exchange rate:
1 EUR =12,003.57 UZS (September 30th, 2020)