TAJIKISTAN: Total charter capital of the insurers in 2021 rises by more than 90% y-o-y

1 February 2022 — Marina MAGNAVAL
Total charter capital of insurance companies in Tajikistan almost doubled in 2021, mainly due to entering of new players on the market, ASIA-Plus reports.

The assets of insurance organizations in 2021 increased by 28%, equity - by 49.8%, charter capital - by 91.6%, as the Chairman of the National Bank of Tajikistan (NBT) Khokim KHOLIKZODA noted, speaking about the results of the country's insurance market in 2021.

The chairman of the National Bank emphasized high growth of investment income of insurance companies - about 2.1 times, which, according to him, is mainly due to "entering of new insurance companies as a result of implementing a number of measures in the country's insurance market", the press service of the NBT reports.

Khokim KHOLIKZODA believes that to improve quality of insurance services, a large-scale introduction of modern service technologies in the market is necessary. He instructed insurers to strengthen their financial position and expand campaigning among the population, as well as work with the private sector, primarily with the agricultural one, the share of which in the republic's GDP is about 23%.

Total number of professional participants in the insurance market, according to the NBT, is 19. Among them are two organizations (Tojiksugurta and Tajiksarmoyaguzor), the full stake of which is owned by the government of the country. The largest in terms of charter capital are Spitamen Sugurta (TJS 90 million), Sugurtai avvalini milli (TJS 71.3 million), Tajiksarmoyaguzor (TJS 15 million) and Paymon Insurance (TJS 12 million).

*1 EUR = 12.69 TJS

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