According to 1H2022 results, the insurance market of Uzbekistan grew by 63% y-o-y in local currency, to UZS 2,771.06 billion (EUR 242.78 million), according to data published by the Insurance Market Development Agency under the Ministry of Finance.

Life insurance continued its dynamic growth after the first quarter, increasing by 176% to UZS 791 billion. At the same time, compulsory types of life insurance maintained a negative trend (-25.59%), while voluntary life insurance saw a rapid growth of almost 186%. Non-life insurance increased by 40%, at the same time its share in the total market portfolio has decreased significantly (by about 12%).

Paid claims accelerated their growth after the first quarter and increased by 136% to UZS 1,153.34 billion (EUR 101.05 million).

Of the 34 non-life insurers, O'ZBEKINVEST (UZS 240 billion) became the leader, followed by ALFA INVEST SUG'URTA KOMPANIYASI (UZS 218 billion), and APEX INSURANCE ranks third in the non-life top three. Of the 8 life insurers, the leader is NEW LIFE SUG'URTA KOMPANIYASI, whose share in the life insurance market has already exceeded 44% in the first half of the year.

Access xprimm.com and download the latest statistics of the Uzbek insurance market for 1H2022 in EUR and UZS.