STATISTICS: Uzbekistan, 3Q2017: The total paid claims volume doubled y-o-y; the two state-owned companies account for about 30% of the market

In the first nine months of 2017, the domestic insurance market has shown a significant evolution, up by 24% to UZS 622 billion, according to data published by the Ministry of Finance of Uzbekistan.

In the reporting period, the GWP on voluntary insurance increased by 32% and totaled UZS 455 billion, while the GWP on mandatory insurance went up by 8% to UZS 168 billion.

By insurance companies, top 5 insurers generated together about 52% of total GWP. The largest insurers as GWP volume were UZAGROSUGURTA (17.05% market share), and UZBEKINVEST (10.58%), followed by KAFOLAT (8.88%), GROSS Insurance (8.30%) and O'zbekinvest Hayot (7.18%).

Total claims paid for all types of insurance doubled, up by 109% and amounted to UZS 197 billion.

Access www.xprimm.com and download the 3Q2017 Uzbek insurance market statistics.

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

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