UZBEKISTAN: in the first half of the year paid claims of KAFOLAT increased by more than 18% y-o-y

6 August 2020 — Marina MAGNAVAL
During the first half of 2020, the insurance company KAFOLAT concluded over 320 thousand insurance contracts for a total insurance amount of UZS 80.3 billion (~EUR 7.86 million*), according to the company's preliminary data.

KAFOLAT is one of the five leaders of the non-life insurance market of Uzbekistan. According to the market results of 1Q2020, the company's market share was over 9%. The insurer is also one of the leaders in compulsory insurance.

From January to June 2020, the insurer's GWP under compulsory civil liability insurance of vehicle owners reached UZS 11.1 billion, and under employers' civil liability insurance the company collected UZS 8.86 billion of premiums, thus taking the 2nd place among insurers in this class. The GWP of KAFOLAT under compulsory civil insurance of carriers amounted to UZS 800.2 million, which allowed the company to rank 1st in this segment among the other local insurers.

The total value of claims paid by KAFOLAT during the first half of 2020 amounted to UZS 16.8 billion, which is about 18.6% more than the same period of 2019.

* for the following exchange rate:
1 EUR = 10209.86 UZS (as of 1 July 2020)

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