In the first six months of 2019, the Tajik insurance market increased by about 4% in local currency, to TJS 97.40 million (EUR 9.07 million), according to the data, published by the National Bank of Tajikistan.
From January to June 2019, 31.4% of all insurance contracts of the state insurer TAJIKSUGURTA fell on voluntary life insurance, according to the director Shukhrat MAKSUDZODA, as Sputnik reports.
In 1Q2019, GWP of the Tajik insurance market increased by about 4% y-o-y in local currency. At the same time, compulsory insurance showed impressive growth amid falling GWP of the voluntary types, as the data, published by the National Bank of Tajikistan, show.
The National Bank of Tajikistan approved a voluntary insurance license for Takalluf company, based on a decision made May 7. The term of the license is 5 years, ASIA-Plus Media Group reports with reference to the press service of the National Bank.
The National Bank of Tajikistan revoked the licenses of two insurance companies - LONDON DUSHANBE and M-Polis, the regulator said.
In February 2019, the National Bank of Tajikistan announced the creation of the National Association of Insurance Companies, which will support the development of insurance activity in the country.
In 2018, Tajik insurers generated TJS 234.2 in GWP (EUR 21.68 million), the market decreased both in local currency (-0.7%) and in euro (-2.76%), according to market data published by the National Bank of Tajikistan.
In January this year the National Bank of Tajikistan has granted operating licenses to two new insurance companies - MEHRUBON and Tajik-Chinese Insurance.
For 9 months of 2018 Tajik insurers generated GWP in the amount of TJS 141.97 million (EUR 13.32 million), TJS 34.01 million from which were ceded in reinsurance (in voluntary classes only), as the data of the National Bank of Tajikistan show.
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.
SUGURTAI MILLI stopped its insurance activity due to expiration of its license, as informed the press service of the National Bank of Tajikistan.
Insurance company SUGURTAI NACHOT stopped its insurance activity on the Tajik market due to expiration of its license, as informed the press service of the National Bank of Tajikistan.
Russia proposed Tajikistan to consider the possibility of obtaining observer status in the Eurasian Economic Union (EEU).
According to the year-end market figures, published by the National Bank of Tajikistan, Tajik insurers totally produced TJS 235.84 million (EUR 22.30 million) of GWP by the end of December 2017.
The board (Shuro) of Tajikistan's lower house (Majlisi Namoyandagon) of
parliament discussed a draft law on insurance activity at an April 4
meeting, presided over by its head, Shukurjon Zuhurov.
An earthquake measuring 7.2 magnitude struck in Tajikistan, shaking
buildings as far away as the Indian capital of New Delhi and in
Pakistan, the US Geological Survey and witnesses said.
According to the XPRIMM estimates, the insurance penetration degree in Tajikistan remains at 0.44% of GDP (2012-2014).
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.