According to the decree, the priority tasks for 2025 include increasing capacity of the domestic reinsurance market to UZS 4 trillion, increasing the export of reinsurance services by at least 30%, as well as intensifying international cooperation by attracting investments of up to UZS 150 billion in this sector. The charter capital of the reinsurance company will be UZS 300 billion, of which 50% will belong to the state and 50% to private investors.
As Uzbekinvest writes in its press release, the National Agency for Prospective Projects will act as a shareholder on behalf of the state. From September 1, reinsurers and insurance brokers will have to offer conclusion of reinsurance contracts to the Reinsurance Company of Uzbekistan before transferring insurance obligations for reinsurance to foreign insurers.
The national reinsurance company will carry out all types of reinsurance within the framework of the legislation regulating insurance activities. Its key tasks will be to provide comprehensive protection against risks for direct and portfolio investments, as well as to provide insurance coverage for investment projects implemented by both foreign and domestic investors in the economy of Uzbekistan.
*EUR 1 = UZS 14463,00 (as of May 30, 2025)
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