Uzbekistan
UZBEKISTAN: in 2021, the insurance sector's share in GDP was about 0.5%
According to preliminary data, the insurance sector of Uzbekistan in 2021 grew by 68.6% y-o-y, exceeding UZS 3.7 trillion (~EUR 0.3 billion*), review.uz reports with reference to the agency for the development of the insurance market of Uzbekistan.
28 March 2022UZBEKISTAN: Malakut opens an office in Uzbekistan
The international insurance broking group Malakut opened an office in Uzbekistan. This is Malakut's 9th office worldwide and its 4th on the territory of the former USSR.
15 December 2021UZBEKISTAN: APEX INSURANCE wins Best Insurance Company of the Year Award
Within the framework of the II International Financial and Banking Forum, that took place on November 26 in Tashkent, the "XIII Tashkent International Conference on Insurance and Reinsurance" was held.
1 December 2021STATISTICS: UZBEKISTAN, 3Q2021: the market continues to grow rapidly with GWP increasing by almost 66% y-o-y (UZS)
By the end of 3Q2021, the insurance sector of Uzbekistan continued its rapid growth trend, increasing GWP by almost 66% y-o-y to UZS 2,632.51 billion (EUR 211 million), according to the data published by the Ministry of Finance of the Republic.
17 November 2021UZBEKISTAN: from July 1, 2022, all types of insurance to be carried out electronically
Uzbekistan has adopted a Presidential Resolution "On additional measures to digitalize the insurance market and develop the life insurance sector," according to which, from July 1, 2022, it will be allowed to carry out all types (classes) of insurance in electronic form, UzReport.news reports.
1 November 2021UZBEKISTAN: UZBEKINVEST receives the "Best Insurance Company of the Year" award
The insurance company UZBEKINVEST received a special award as "The Best Insurance Company" and took first places in other two nominations at the Tashkent Advertising Festival TAF!21, gazeta.uz.
13 October 2021UZBEKISTAN: senators approved the law "On insurance activities"
At the meeting of the Oliy Majlis (Supreme Assembly of Uzbekistan), the senators approved the law "On insurance activities", which provides for "revitalization" of the insurers' activities, as well as development and expansion of the infrastructure of the insurance market, UzReport.news informed.
31 August 2021STATISTICS: UZBEKISTAN, 1H2021: GWP growth exceeded 67% y-o-y (in local currency)
In the first half of 2021, the insurance sector of Uzbekistan grew by more than 67%, GWP reached UZS 1,697.91 billion (EUR 134.44 million), according to the data published by the Ministry of Finance of the Republic.
23 August 2021UZBEKISTAN: KAFIL SUG'URTA - winner in the category "The fastest growing non-life insurance company in Uzbekistan 2021"
According to the 2020 results, the leading online magazine "Global Banking & Finance Review" selected KAFIL SUG'URTA as the winner in the nomination "Fastest Growing General Insurance Company Uzbekistan 2021", the insurer reports.
27 July 2021UZBEKISTAN: a pilot project of state health insurance has been launched
Uzbekistan, with the support of the WHO European Regional Office, has launched a pilot project in the Syrdarya region to provide the population with health services. The provision of public health insurance is part of nationwide health sector reforms announced in 2020, the WHO Regional Office for Europe announced on July 9.
15 July 2021UZBEKISTAN: UNDP helps develop the insurance sector in Uzbekistan
UNDP, together with the Agency for the Insurance Market Development at the Uzbek Ministry of Finance, organized a seminar on June 24, 2021, during which the results of the diagnostics of the development of inclusive insurance and risk financing in Uzbekistan were presented, UzDaily.uz reports.
5 July 2021STATISTICS: UZBEKISTAN, 1Q2021: the market is recovering, growth exceeded 33% y-o-y (in UZS)
In the first quarter of 2021, the insurance market of Uzbekistan grew by more than 33% y-o-y in local currency, to UZS 669.36 billion (EUR 54.44 million), according to the data published by the Ministry of Finance of the Republic.
3 June 2021UZBEKISTAN: Gross Insurance launched e-policies for compulsory motor insurance
Gross Insurance, one of the TOP-3 non-life insurers in Uzbekistan, has started sales of electronic policies for compulsory motor insurance, gazeta.uz reports.
26 May 2021UZBEKISTAN: Fitch Rates Agros Hayot at B+, Outlook Stable
Fitch Ratings assigned Agros Hayot an Insurer Financial Strength (IFS) Rating of 'B+'. The Outlook is Stable, according to the agency's website.
20 May 2021UZBEKISTAN: implementation of a pilot project for health insurance mechanisms to begin from July 2021
In Uzbekistan, effective measures are being taken to improve quality of medical services provided to the population and to create conditions for the financial protection of citizens.
5 May 2021UZBEKISTAN: one of the largest losses in the history of the Uzbek insurance market settled by Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers
Uzbekinvest National Export-Import Insurance Company and Malakut Insurance Brokers settled a USD 2.9 million fire loss at a cotton pulp mill in Tashkent region of Uzbekistan, according to Malakut.
21 April 2021UZBEKISTAN: Asia Insurance: 2020 - a year of development for insurers
The 2020 crisis affected all spheres of the economy in one way or another. Some types of business fail completely, some, on the contrary, receive an additional incentive for development.
12 April 2021UZBEKISTAN: in 2020 UZBEKINVEST retained its leading position, Gross Insurance became one of the largest insurers with 58% increase in paid claims
At the end of 2020, UZBEKINVEST retained its leading position in the insurance market of Uzbekistan. According to the Ministry of Finance, the insurer's GWP for 2020 amounted to UZS 262 billion (~EUR 20.49 million*), the client base grew by 38%, Gazeta.uz writes.
30 March 2021UZBEKISTAN: in 2020 Alfa Invest showed growth in financial performance
In 2020, Alfa Invest insurance company recorded growth of the key financial indicators - significantly increased reserves and assets, maintained a high level of solvency, increased its charter capital to UZS 50 billion (~EUR 3.91 million*), according to Inessa AKHMETOVA, General Director of Alfa Invest,
11 March 2021STATISTICS: UZBEKISTAN, FY2020: life insurance lost more than 10% of its share in the market portfolio in a year
The insurance sector of Uzbekistan ended 2020 with a 4.50% GWP drop y-o-y (in local currency). Total amount decreased to UZS 2,209.67 billion (EUR 172.82 million*), according to data published by the Ministry of Finance of the Republic.
25 February 2021
