The largest decrease was in life insurance (-36.05% y-o-y). At the same time, mandatory types demonstrated impressive growth by almost 23%.
Market paid claims in general remained almost at the level of the first quarter of 2019 (-1.80%), although in non-life and mandatory insurance there was a strong increase of paid claims - over 70% in both cases.
At the end of 1Q2020, 28 insurance companies were operating on the Uzbek market. The five leaders occupy more than 54% of total market GWP. Although it's worth noting that all the leaders decreased their market shares compared to 1Q2019. In terms of GWP among TOP-5, UZBEKINVEST generated premiums almost 33% less y-o-y, and Gross Insurance also recorded a slight decline in premium collection.
* for the following exchange rate:
1 EUR = 10637.67 UZS (March 31st, 2020)
Download the latest statistical data on xprimm.com at Uzbek insurance market.