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.

The most recent data indicates that there are 16 insurance companies, including two state owned companies TOJIKSUGURTA (which is the successor to TAJIK GOSSTRAKH) and TAJIKSARMOYAGUZOR, and 14 private companies, of which the most important one is ORIEN Insurance.

Also, the Tajik's Insurance Law stipulates 16 types of mandatory insurance products, which defines the market portfolio (estimated), approximately 75% being covered by this type of insurance.

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