TAJIKISTAN: in January-September 2022, net profit of insurers increased by 2.6%, and premiums - by 6.8%

24 May 2023 —
According to the National Bank of Tajikistan, for the first nine months of 2022, assets of insurance (reinsurance) organizations amounted to TJS 612.3 million (~EUR 63.84 million). The share of insurers' assets for the period was equal to 0.6% of GDP.

In 9M2022, the balance sheet liabilities of insurers amounted to TJS 225.0 million, equity (capital) - TJS 387.3 million, which indicates an increase in the direction of financial stability and liquidity. Total charter capital of insurance organizations as of September 30, 2022, amounted to TJS 279.5 million (+20.2%). The number of contracts concluded during the period also increased - up to 1,441.8 thousand units (+6.9%), which means that public interest in insurance is growing year by year, and financial literacy is also improving.

Total GWP for January-September 2022 amounted to TJS 230.0 million (+6.8%). Income from insurance premiums in compulsory state insurance reached TJS 773.5 thousand; other compulsory insurance increased to TJS 49.1 million. Voluntary insurance rose to TJS 179.7 million, and its share was 78.3% in the total insurance market portfolio. Paid claims in the reporting period reached TJS 17.3 million (+8.7).

According to the 9M2022 results, net profit of insurance companies increased to TJS 79.0 million (+2.8). Return on assets (ROA) averaged 3.5%, and ROE - 6.8%.

In January-September 2022, only 18 insurance organizations operated in the country.

*EUR 1 = TJS 9.59 (30.09.2022)