According to the results of 2021, the insurance sector of Tajikistan amounted to TJS 287 million (EUR 22.43 million), which is 21.7% more than in 2020, according to the data published in the report of the National Bank.
Own funds (capital) of professional participants in the insurance market for 2021 amounted to TJS 320.5 million (EUR 25.25 million*), which is 47.4% more y-o-y. The National Bank in its review notes that the major part of the own funds of professional market participants is their charter capital, which increased by 91.6% in 2021.
Total charter capital of insurance companies in Tajikistan almost doubled in 2021, mainly due to entering of new players on the market, ASIA-Plus reports.
In November, the National Bank of Tajikistan in Dushanbe hosted a presentation of reinsurance services with the participation of domestic insurance companies, IA Avesta reports.
The National Bank of Tajikistan (NBT) did not renew the license of the insurance company Tojiksarmoyaguzor (according to data for 2020, it is one of the five leaders in the insurance market in terms of assets and charter capital).
The equity capital of insurance organizations in Tajikistan from June 2020 to June 2021 increased by 90%. At the same time, their total charter capital at the end of June 2021 reached TJS 232.6 million (EUR 17.28 million*), ASIA-Plus wrote according to the press service of the National Bank of Tajikistan (NBT).
On June 29, 2021, an official visit of the President of the Republic of Kyrgyzstan to the Republic of Tajikistan took place, according to the website of the Agency for Social Insurance and Pensions under the Government of the Republic of Tajikistan.
The National Bank of Tajikistan presented "The procedure for calculating the ratio of equity (capital) and liabilities of insurance (reinsurance) organizations", Avesta news agency reported.
In March 2021, in Tajikistan, by the decision of the Board of the National Bank of Tajikistan, a license was issued to the insurance company DS SUGURTA for a period of 5 years, writes the information agency Avesta.
At the end of 3Q2020, the insurance market in Tajikistan expanded by 4.05% to TJS 175.30 million (EUR 14.50 million*). At the same time, again, growth was provided by voluntary types of insurance, while compulsory insurance continued the downward trend, according to data published by the National Bank.
The insurance market of Tajikistan completed the first half of 2020 with an increase of 32.50% y-o-y. Total GWP reached TJS 129.06 million (EUR 11.16 million*), according to the data, recently published by the National Bank of the country.
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.
Tajikistan introduced a new type of insurance against COVID-19, as Abdullo ABDULLOEV, the first deputy general director of the State Company Tojiksugurta noted, Avesta reports.
At the end of June 2020, the lower house of the Tajik Parliament approved the law "On compulsory insurance of liability of vehicle owners", aimed at increasing competition in the segment, the Tajik news agency reported.
According to the results of the 2020 first quarter, the Tajik insurance market saw a rapid growth, expanding by more than 11% y-o-y. Market GWP exceeded TJS 92 million (~EUR 8.22 million), as the data published by The National Bank of Tajikistan show.
The insurance industry in Tajikistan is developing with new participants entering the market. However, public awareness of insurance and principles of the insurance activities remains low, although, according to SPITAMEN Insurance, the basic insurance principles are almost no different from the global ones, ASIA-Plus writes.
The Tajik insurance market GWP in local currency remained almost unchanged at the end of 2019 (+0.03%), reaching TJS 234.3 million (~EUR 21.6 million), the conversion in euro showing a slight decrease compared to 2018.
By the end of 3Q2019, the Tajik insurance market grew by almost 19% in local currency, while in euro the growth was 22.18%. GWP amounted to KGS 168.47 million (EUR 15.90 million), according to the data, published by the National Bank of the country.
A new insurance company, Eskhata Sugurta, has been registered on the Tajik market, Avesta news agency reports, citing the press center of the National Bank of the country.
In the first six months of 2019, the Tajik insurance market increased by about 4% in local currency, to TJS 97.40 million (EUR 9.07 million), according to the data, published by the National Bank of Tajikistan.