STATISTICS:

Tajikistan: local insurance market lost one insurer

Insurance company SUGURTAI NACHOT stopped its insurance activity on the Tajik market due to expiration of its license, as informed the press service of the National Bank of Tajikistan.

As of the end of 2017 Tajik insurance market was represented by 22 various insurance organizations. For the moment about 20 insurance entities are active on the local market, 2 of them - state insurers (TAJIKSUGURTA and TAJIKSARMOYAGUZOR). Among insurance classes the prevailing are: property, personal, life and liability insurance, wrote Tajik news agency Sputnik.

However, in February this year one new insurer entered the local market. The National Bank approved a license for the private insurance company SUGURTAI asri 21 as well as prolonged licenses of two other insurers, working on the market, - state TAJIKSUGURTA and private ASKHATA-Sugurta.

According to the specialists of the news agency the Tajik insurance market is facing a range of problems, affecting its stability and development. The main problem is that economical bodies and market participants do not consider the Tajik insurance industry as a strategic factor for the country's development.





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

Share |

Related articles

TAJIKISTAN, FY2011: Still in "infancy"

According our estimations, the total GWP amounted about EUR 20 million in 2011, respectively EUR 16 million in case of 2010, representing about 0.4% of GDP (EUR 4.9 billion in 2011 and EUR 4.2 billion in 2010 - published by the National Bank of Tajikistan), Tajik insurance industry being the smallest of the Central Asian CIS markets. Despite rapid growth in recent years, the insurance sector is still underdeveloped, highly concentrated, the majority of companies are undercapitalized, while many forms of insurance protection common in other parts of the world are not yet available.

2012-05-10

ON THE MOVE

Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.

15.01.2019

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all