Uzbekistan
UZBEKISTAN: expanding the classifier of insurance activities to contribute to the creation of new insurance types and improve the living standards of the population
On June 9, 2022, a Decree of the Cabinet of Ministers of the Republic of Uzbekistan "On amendments to some decrees of the Government of the Republic of Uzbekistan, as well as on recognizing some of them as invalid" was adopted, yuz.uz wrote.
4 July 2022UZBEKISTAN: S&P assigns ASIA Insurance a long-term financial strength rating of B- with positive outlook
On May 19, 2022, S&P Global Ratings assigned ASIA Insurance a long-term local currency financial strength rating of B-, with a positive outlook. The rating action was performed after ASIA Insurance's transformation into Joint Stock Company "ASIA INSURANCE SUG'URTA KOMPANIYASI", on February 24, 2022.
22 June 2022UZBEKISTAN: UZBEKINVEST recognized as the leader of the insurance market in 2021
UZBEKINVEST (leader of the local insurance market) became the winner of the Brand of the Year 2021 award in the nomination "Leader of the insurance market of Uzbekistan".
15 June 2022UZBEKISTAN: licenses of Agros Hayot and Farovon Sug'urta temporarily suspended
The Insurance Market Development Agency under the Ministry of Finance of the Republic of Uzbekistan has suspended the licenses of insurance companies Agros Hayot and Farovon Sug'urta for a period of 10 days starting May 23, UzReport informed.
26 May 2022UZBEKISTAN: Shukhrat RASULOV appointed Acting Chairman of the Board of Uzagrosugurta
By decision of the Supervisory Board of the insurance company Uzagrosugurta, one of the leaders in the non-life insurance market of Uzbekistan, Shukhrat RASULOV was appointed acting chairman of the board,
10 May 2022UZBEKISTAN: for the period from 2016 to 2021, GWP of UZBEKINVEST increased five times
According to preliminary data, at the end of 2021, UZBEKINVEST remained the market leader in terms of GWP, having collected UZS 385 billion (EUR 31.49 million*), gazeta.uz informed.
4 April 2022UZBEKISTAN: in 2021, the insurance sector's share in GDP was about 0.5%
According to preliminary data, the insurance sector of Uzbekistan in 2021 grew by 68.6% y-o-y, exceeding UZS 3.7 trillion (~EUR 0.3 billion*), review.uz reports with reference to the agency for the development of the insurance market of Uzbekistan.
28 March 2022UZBEKISTAN: Malakut opens an office in Uzbekistan
The international insurance broking group Malakut opened an office in Uzbekistan. This is Malakut's 9th office worldwide and its 4th on the territory of the former USSR.
15 December 2021UZBEKISTAN: APEX INSURANCE wins Best Insurance Company of the Year Award
Within the framework of the II International Financial and Banking Forum, that took place on November 26 in Tashkent, the "XIII Tashkent International Conference on Insurance and Reinsurance" was held.
1 December 2021STATISTICS: UZBEKISTAN, 3Q2021: the market continues to grow rapidly with GWP increasing by almost 66% y-o-y (UZS)
By the end of 3Q2021, the insurance sector of Uzbekistan continued its rapid growth trend, increasing GWP by almost 66% y-o-y to UZS 2,632.51 billion (EUR 211 million), according to the data published by the Ministry of Finance of the Republic.
17 November 2021UZBEKISTAN: from July 1, 2022, all types of insurance to be carried out electronically
Uzbekistan has adopted a Presidential Resolution "On additional measures to digitalize the insurance market and develop the life insurance sector," according to which, from July 1, 2022, it will be allowed to carry out all types (classes) of insurance in electronic form, UzReport.news reports.
1 November 2021UZBEKISTAN: UZBEKINVEST receives the "Best Insurance Company of the Year" award
The insurance company UZBEKINVEST received a special award as "The Best Insurance Company" and took first places in other two nominations at the Tashkent Advertising Festival TAF!21, gazeta.uz.
13 October 2021UZBEKISTAN: senators approved the law "On insurance activities"
At the meeting of the Oliy Majlis (Supreme Assembly of Uzbekistan), the senators approved the law "On insurance activities", which provides for "revitalization" of the insurers' activities, as well as development and expansion of the infrastructure of the insurance market, UzReport.news informed.
31 August 2021STATISTICS: UZBEKISTAN, 1H2021: GWP growth exceeded 67% y-o-y (in local currency)
In the first half of 2021, the insurance sector of Uzbekistan grew by more than 67%, GWP reached UZS 1,697.91 billion (EUR 134.44 million), according to the data published by the Ministry of Finance of the Republic.
23 August 2021UZBEKISTAN: KAFIL SUG'URTA - winner in the category "The fastest growing non-life insurance company in Uzbekistan 2021"
According to the 2020 results, the leading online magazine "Global Banking & Finance Review" selected KAFIL SUG'URTA as the winner in the nomination "Fastest Growing General Insurance Company Uzbekistan 2021", the insurer reports.
27 July 2021UZBEKISTAN: a pilot project of state health insurance has been launched
Uzbekistan, with the support of the WHO European Regional Office, has launched a pilot project in the Syrdarya region to provide the population with health services. The provision of public health insurance is part of nationwide health sector reforms announced in 2020, the WHO Regional Office for Europe announced on July 9.
15 July 2021UZBEKISTAN: UNDP helps develop the insurance sector in Uzbekistan
UNDP, together with the Agency for the Insurance Market Development at the Uzbek Ministry of Finance, organized a seminar on June 24, 2021, during which the results of the diagnostics of the development of inclusive insurance and risk financing in Uzbekistan were presented, UzDaily.uz reports.
5 July 2021STATISTICS: UZBEKISTAN, 1Q2021: the market is recovering, growth exceeded 33% y-o-y (in UZS)
In the first quarter of 2021, the insurance market of Uzbekistan grew by more than 33% y-o-y in local currency, to UZS 669.36 billion (EUR 54.44 million), according to the data published by the Ministry of Finance of the Republic.
3 June 2021UZBEKISTAN: Gross Insurance launched e-policies for compulsory motor insurance
Gross Insurance, one of the TOP-3 non-life insurers in Uzbekistan, has started sales of electronic policies for compulsory motor insurance, gazeta.uz reports.
26 May 2021UZBEKISTAN: Fitch Rates Agros Hayot at B+, Outlook Stable
Fitch Ratings assigned Agros Hayot an Insurer Financial Strength (IFS) Rating of 'B+'. The Outlook is Stable, according to the agency's website.
20 May 2021
