Tashkent, Uzbekistan, May 19
By Demir Azizov – Trend:
Uzbek insurance companies increased collection of premiums by 28 percent – up to 208 billion Uzbek soums in the 1Q17 as compared to 1Q16, according to the country’s Ministry of Finance.
Meanwhile, the volume of voluntary insurance premiums rose by 36 percent – up to 143.5 billion soums, compulsory insurance premiums – by 14 percent – up to 64.5 billion soums.
During the period, the following companies entered the top five for the collection of premiums: Uzagrosugurta JSC – 34.9 billion soums (growth by 12.4 percent), National Export-Import Insurance (NEIIC) Uzbekinvest – 22.8 billion soums (growth by 2.9 percent), Insurance company Kafolat JSC – 19.6 billion soums (growth by 18.3 percent), Alfa Invest – 17.9 billion soums (growth by 1.4 times) and Alskom JSC – 13.6 billion soums (growth by 1.5 times).
About 52.3 percent of total volume of the collected premiums accounted for those companies.
According to the ministry, payment of insurance claims totaled 75.2 billion soums in the 1Q17, as compared to 37.2 billion soums a year before (growth by two times), including the payment on voluntary insurance – by 2.9 times, up to 60 billion soums, and on compulsory insurance – by 6 percent, up to 15.3 billion soums.
The largest volume of payments were carried out by Uzagrosugurta – 42.1 billion soums (growth by 4.6 times), Kafolat Insurance company – 7.6 billion soums (growth by 38.6 percent), Uzbekinvest Hayot specialized in life insurance – 6.2 billion soums (growth by 22.7 percent), NEIIC Uzbekinvest – 4.2 billion soums (growth by 30.9 percent), New Life Insurance LLC – 3.8 billion soums (growth by 1.8 times).
Currently, 27 insurance companies operate in Uzbekistan.