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.

Share |

Related articles

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all