UZBEKISTAN: The license of NEW LIFE SUG‘URTA KOMPANIYASI canceled

4 June 2024 — Marina MAGNAVAL
Based on the decision of the National Agency for Prospective Projects of the Republic of Uzbekistan dated May 21, 2024, the license of NEW LIFE SUG‘URTA KOMPANIYASI for voluntary and compulsory life insurance was canceled as of May 22, 2024, the agency said in a statement.

NEW LIFE SUG'URTA KOMPANIYASI is obliged to fulfill its obligations on previously concluded insurance (reinsurance) contracts.

In 2023, NEW LIFE SUG‘URTA KOMPANIYASI ranked third on the life insurance market in Uzbekistan among 8 companies operating in the market. It is worth noting that the company’s share in the life insurance market over the past year decreased from 46% to 18%. Although in 2022 NEW LIFE SUG‘URTA KOMPANIYASI was the leader in life insurance in the country.



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