UZBEKISTAN: 97% of O`zbekinvest Hayot paid claims fell on voluntary insurance in 1Q2020

9 June 2020 — Marina MAGNAVAL
In the first quarter of 2020, the claims paid by O`zbekinvest Hayot insurance company, the leader of the insurance market in Uzbekistan, exceeded UZS 27.4 billion (~EUR 2.7 million), according to UzReport.

Voluntary insurance accounted for over 97% of the company's paid claims, the remaining share of claims being paid under compulsory insurance (annuity insurance contracts based on the law on compulsory insurance of employers' civil liability).

In 2019, O`zbekinvest Hayot ranked first on its home market in terms of GWP with a market share of more than 16% among the 20 total number of insurance companies operating in Uzbekistan.

*EUR 1 = UZS 10220.05 (as of 1 April 2020)

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