Uzbekistan
UZBEKISTAN: NAPP launches a rating system for insurers
The Ministry of Justice of the Republic of Uzbekistan has approved the procedure for determining and maintaining the rating of insurers, developed by the National Agency for Prospective Projects (NAPP). The document sets clear criteria for assessing the quality of services provided by insurance companies.
27 January 2025STATISTICS: UZBEKISTAN, 3Q2024: 92% of all market premiums come from voluntary insurance
At the end of 3Q2024, the insurance sector of Uzbekistan grew by 18.64% y-o-y and amounted to UZS 7.01 trillion (EUR 494.28 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
9 December 2024UZBEKISTAN: draft law on agricultural risk insurance has been developed
A draft law “On agricultural risk insurance” has been developed in Uzbekistan, which was discussed on November 25 during the presentation of proposals for food security governance, increase of cotton and cereal crop yields, gazeta.uz writes.
3 December 2024UZBEKISTAN: Moody's upgrades Uzbekinvest to Ba2, stable outlook
On November 14, the international rating agency Moody's Ratings announced in its official press release that it upgraded the financial strength rating of Uzbekinvest insurance company to Ba2 with a stable outlook, the insurer writes.
25 November 2024UZBEKISTAN: Professor Karel Van Hulle: Uzbekistan has a tremendous potential for the development of insurance in the country
The United Nations Development Program (UNDP), in cooperation with the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP), conducted a training for the insurance market regulator and insurance sector specialists. Prof. Karel van HULLE, Professor, KU Leuven - Goethe University Frankfurt, Germany was the lector of the training.
12 November 2024UZBEKISTAN: State health insurance system launched in Tashkent and Syrdarya region
A state health insurance system has been launched in Tashkent and Syrdarya region since October 1. The document on its introduction was signed by the President of Uzbekistan in early September, Gazeta.uz reports.
24 October 2024STATISTICS: UZBEKISTAN, 1H2024: paid claims grew twice as fast as premiums
At the end of 1H2024, the insurance sector of Uzbekistan grew by 13% y-o-y and amounted to UZS 4.27 trillion (EUR 317 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
1 October 2024UZBEKISTAN: State health insurance system to be introduced from October 1
The state health insurance system will be introduced from October 1 in Tashkent and the Syrdarya region, and from January 1, 2025 — in Karakalpakstan, Gazeta.uz reports.
18 September 2024UZBEKISTAN: GROSS records a fourfold increase in reinsurance volumes in 1H2024
GROSS insurance company is expanding its partnerships with global insurance companies and brokers. Currently, GROSS cooperates with 79 countries in the global insurance market. In 1H2024, the volume of reinsurance accepted by GROSS from foreign companies increased to 392% y-o-y, Gazeta.uz writes.
11 September 2024UZBEKISTAN: On August 1, electronic registration and issuance of compulsory insurance contracts was launched
The National Agency for Prospective Projects (NAPP) of the Republic of Uzbekistan reported that from August 1, 2024, electronic registration of insurance contracts, as well as issuance of insurance policies for four types of compulsory insurance, was launched through the portal of the Unified Information System service.e-osgo.uz, the agency's website says.
15 August 2024STATISTICS: UZBEKISTAN, 1Q2024: the share of non-life insurance exceeded 98% of all premiums
At the end of 1Q2024, the insurance sector of Uzbekistan grew by 32.64% y-o-y and amounted to UZS 2,213.96 billion (EUR 162.80 million), according to data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
11 June 2024UZBEKISTAN: NAPP is working to revise the MTPL tariffs
The National Agency for Prospective Projects (NAPP) of the Republic of Uzbekistan reported that work is underway to revise the MTPL tariffs established back in 2019, the agency said on its website.
4 June 2024UZBEKISTAN: The license of NEW LIFE SUG‘URTA KOMPANIYASI canceled
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.
4 June 2024UZBEKISTAN: Gross recognized as “Brand of the Year” for the third time
The Gross insurance company for the third time was recognized as “Brand of the Year” by the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan and the Marketing Association of Uzbekistan, Gazeta.uz reports.
30 May 2024UZBEKISTAN: Regulations on the procedure for applying penalties to insurers approved
Uzbekistan has approved the Regulations on the procedure for applying penalties to insurers to ensure implementation of the Resolution of the President “On comprehensive measures for further development of the insurance market”, the National Agency for Prospective Projects of Uzbekistan (NAPP) reports.
14 May 2024STATISTICS: UZBEKISTAN, 3Q2023: the share of life insurance decreased from 29% to 4%
At the end of 3Q2023, the insurance sector of Uzbekistan grew by 33% to UZS 5,912.201 billion (EUR 460.76 million), according to the data published by the National Agency for Prospective Projects of the Republic of Uzbekistan.
7 May 2024STATISTICS: UZBEKISTAN, FY2023: GWP increased by 29%, while paid claims decreased by 22%
At the end of 2023, the insurance sector of Uzbekistan grew by 29% to UZS 8,059.726 billion (EUR 586.94 million), as data published by the National Agency for Prospective Projects of the Republic of Uzbekistan show.
7 May 2024UZBEKISTAN: Universal Sug‘urta ceased insurance activities
The license of Universal Sug‘urta for voluntary non-life insurance was canceled on April 2, the press service of the Uzbekistan's National Agency of Perspective Projects (NAPP) reported, gazeta.uz writes.
17 April 2024UZBEKISTAN: in 2023, the total charter capital of insurance companies increased by 22%
At the end of 2023, the total number of existing insurance contracts in Uzbekistan was about 9.74 million units, and the total number of concluded contracts was 9.13 million units (in 2022: 8.40 million and 7.95 million units, respectively). This indicates a stable pace of development of insurance activities, according to the Ahbor-Reyting rating agency.
17 April 2024UZBEKISTAN: new measures to increase popularity and quality of insurance services
On March 1, 2024, the President of the Republic of Uzbekistan adopted a resolution “On comprehensive measures for the further development of the insurance market”, which introduces several innovations in insurance, the National Agency for Prospective Projects of Uzbekistan reports.
12 March 2024
