STATISTICS: TAJIKISTAN, 1H 2018 result: voluntary insurance keeps 71% stake in GWP portfolio

In the first half year Tajik market generated TJS 93.63 million of GWP (EUR 8.79 million), TJS 20.65 million from that amount were ceded in reinsurance, based on the data, published by the National Bank of Tajikistan.

All premiums, ceded in reinsurance, came from voluntary classes. State compulsory insurance accounted for less than 1% in the market portfolio of premiums during the first 6 months. At that shares of other compulsory insurance and voluntary insurance reached 28% and 71% accordingly. Paid claims in the first half year amounted only to TJS 5.45 million, and the major part was made by dominating voluntary insurance classes.

The leader in terms of assets (TJS 90.79 million) and charter capital (TJS 87.74 million) is SPITAMEN-Sugurta; SUGURTAIAVVALINIMILLI company keeps the second place assets-wise (TJS 88.17 million) and is the leader in terms of insurance obligations in the market (TJS 73.93 million). Totally, as end of the second quarter, Tajik market was represented by 19 insurance organizations, among them: 2 state, 15 non-state organizations, 1 insurance broker and 1 mutual insurance association. Only 17 of them have certain amounts of assets, obligations and charter capital, at that 2 organizations have no registered amounts at all (Mutual insurance association and non-state company ARIYO). Total number of market players has changed since the first quarter this year. As of the end of March total number of insurance organizations was 22, meaning that 3 non-state companies left the market.

Tajik insurance market represents 3 main insurance types: state compulsory, other compulsory and voluntary. Segment-wise market provides life and non-life insurance, the latter in its turn includes accidents insurance, health insurance, insurance of motor vehicles, insurance of railway vehicles, cargo insurance, insurance of civil and legal liability of vehicle owners and other classes.

Acess http://xprimm.com/ and download the 1H2018 Tajik insurance market statistics.



Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

TAJIKISTAN, FY2011: Still in "infancy"

According our estimations, the total GWP amounted about EUR 20 million in 2011, respectively EUR 16 million in case of 2010, representing about 0.4% of GDP (EUR 4.9 billion in 2011 and EUR 4.2 billion in 2010 - published by the National Bank of Tajikistan), Tajik insurance industry being the smallest of the Central Asian CIS markets. Despite rapid growth in recent years, the insurance sector is still underdeveloped, highly concentrated, the majority of companies are undercapitalized, while many forms of insurance protection common in other parts of the world are not yet available.

2012-05-10

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all