TAJIKISTAN: since 2015, the highest volume of assets and the biggest number of contracts concluded were observed in 2019

13 January 2021 — Marina MAGNAVAL
In the first nine months of 2020 total assets of the Tajik insurance companies reached TJS 417.3 million (~EUR 34.5 million*), which is about 92% of their assets amount in 2019, according to the data, published by the National Bank of Tajikistan.

During the last five years, the lowest level of assets in the market was recorded in 2016, while the highest total volume the market was saw in 2019.



Total equity of the insurance market participants in the first nine months of 2020 amounted to TJS 215.9 million, which is 19.8% more than for the same period of 2019. As the regulator mentioned, it is a trend towards improvement of financial sustainability and liquidity of insurance companies. It also should be noted that the biggest part of the insurers' equity (capital) is made by their charter capital.

Net profit of insurance companies from January to September 2020 reached TJS 80.9 million. As international experience shows, the most important indicator of performance and attractiveness of insurance companies is their profitability. Return on assets (ROA) of the Tajik insurance system in the reporting period was 6.4%, while the return on equity (ROE) was 10.6%.

Total number of contracts concluded for the first nine months of 2020 is 1,154.3 thousand units, which is the lowest figure if to compare to the number of contracts concluded (for the whole year) since 2015. Same as in the case of assets, the biggest number of contracts concluded was recorded in 2019.



On the territory of the Republic of Tajikistan as of September 30, 2020, insurance services were provided by 18 professional participants, including 2 state insurance organizations, 15 non-state insurance companies and 1 mutual insurance support center.

* at the following exchange rate:

1 EUR = 12.0937 TJS (01.10.2020)



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