UZBEKISTAN: SNS RATINGS expects O‘ZBEKINVEST to improve its business scale and strengthen its position and share in the insurance market

18 November 2025 — Marina MAGNAVAL
This fall, SNS RATINGS agency officially announced assignment of the highest solvency and reliability rating of AAA to O‘ZBEKINVEST, a top-three non-life insurer, with a stable outlook, according to the insurance company.

The AAA rating assigned to O‘ZBEKINVEST is the highest and is assigned to organizations with an exceptionally high ability to timely and fully fulfill their obligations and demands of insurance policyholders.

The rating agency noted several positive factors influencing the assigned rating:

- the company's importance in export insurance;

- high level of transparency and reliability of the reports;

- long history of operation in the market;

- strong shareholder support;

- good solvency indicators;

- good indicators of insurance business development, etc.

According to SNS RATINGS, O‘ZBEKINVEST's business scale is expected to continue to improve, strengthening the company’s position and share in the national insurance market.

The report notes that, for the first nine months of 2025, the company's gross premiums amounted to UZS 1.178 billion, representing 145% increase y-o-y. Reinsurance premiums reached USD 50.5 million, with international reinsurance accounting for 53% of the company's total portfolio. From January to September 2025, national exporters of goods and services received insurance coverage totaling USD 2.4 billion. In the corporate segment, insurance premiums reached UZS 297.9 billion (+151%), of which UZS 51.1 billion relate to investment project insurance.

SNS RATINGS agency specializes in assessing financial stability of companies and debt instruments. The agency assigns ratings to financial sector organizations, holding companies, and enterprises across all sectors of the economy, regularly publishing analytical studies and reports, the statement said.



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