STATISTICS: UZBEKISTAN, 1Q: Market growth by 22% while the value of paid claims doubled

In the first three months of 2015, the aggregate volume of GWP reported by the Uzbek insurers was of UZS 135 billion (or EUR 50 million), up by almost 22% y-o-y, according to the market data provided by the Ministry of Finance of the Republic of Uzbekistan. At the same time, claims paid for all types of insurance more than doubled and amounted to UZS 31.2 billion (EUR 11.5 million), up by 114.8% y-o-y.

By types of insurances, the share of voluntary policies decreased by 1.63 pp to 66.1%, while the mandatory classes accounted for the remaining 33.89%.

The Top 5 Uzbek insurers (in terms of GWP) generate about 56.8% of the total market as follows: UZAGROSUGURTA (20.55%), UZBEKINVEST (11.20%), ALFA Invest (9.88%), KAFOLAT (8.97) and ALSKOM (6.25%).

Access www.xprimm.com and download the 1Q2015 Uzbek insurance market statistics.

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

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