UZBEKISTAN: Insurers invested over UZS 6.2 trillion in the economy in 2023

13 February 2024 — Marina MAGNAVAL
The total charter capital of insurance companies in Uzbekistan in 2023 exceeded UZS 2.3 trillion (~EUR 0.17 billion) and increased by 22.6% y-o-y, the National Agency for Prospective Projects of Uzbekistan (NAPP) reports on its website.

The volume of insurers’ investments in the economy exceeded UZS 6.2 trillion/~EUR 0.45 billion (+29.4%). At the same time, the investment portfolio of insurance companies consists mainly of highly liquid assets - 65.6% of deposits in commercial banks and 22.1% in securities and shares, as was noted at the press conference dedicated to the results of the Agency’s activities in 2023.

The total amount of insurance paid claims reached UZS 2 trillion, of which UZS 1.5 trillion were paid in general insurance and UZS 453.5 billion were paid in life insurance.

The number of concluded insurance contracts reached 9.1 million units, which is 14.9% more than in 2022.

In addition, work was carried out to protect the rights of consumers of insurance services - at the end of 2023, the state authority received 3,132 appeals (+161%), of which 2,600 appeals (83%) were resolved positively and UZS 19.7 billion were paid.

*EUR 1 = UZS 13,667 (31.12.2023)