STATISTICS: UZBEKISTAN, FY2016: both premiums and claims paid increased at a double digit pace

In 2016, the domestic insurance market has shown a significant evolution, up by 25.58%, according to preliminary data published by the Information-Rating Agency SAIPRO.

By types of insurances, the share of voluntary policies increased to 70.03% (up by 32.94%), while the mandatory classes accounted for 29.97% (up by 11.19%), showing that "insurers have stepped up their activity on voluntary types of insurance, which is a good result, proving that the market grew without the assistance of the compulsory insurance classes", as stressed out by SAIPRO.

Total claims paid for all types of insurance amounted to UZS 130.50 billion (EUR 38.17 million), 17.57% more than in 2015.

In Uzbekistan are active 26 insurance companies: 3 life insurers and 23 in non-life insurers.

Find detailed 2016 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - FY2016, to be launched on 22 May.

Access www.xprimm.com and download the FY2016 Uzbek insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all