Uzbek insurers increase premium collection

Business Materials 18 July 2011 11:21 (UTC +04:00)

Uzbekistan, Tashkent, July 18 / Trend D.Azizov /

Uzbek insurance companies increased premium collections by 42.4 percent in January-June 2011, up to 121.5 billion soums, compared to the same period last year, a government source told Trend.

The premiums collected for voluntary types of insurance increased by 50.8 percent - up to 84.9 billion soums (69.9 percent of total premiums collected); compulsory insurance increased by 25.3 percent, up to 36.6 billion soums (30.1 percent).

The largest volume of premiums collected was 86.9 billion soums (71.5 percent) compared to 69.1 percent in January - June last year. These were collected from legal entities. The individual premiums declined by 2.4 percent - to 28.5 percent, compared to January - June last year. The volume of premiums received from individuals increased by 30.9 percent - to 34.6 billion soums.

The total amount of insurance payments made in January-June 2011 increased by 4.2 percent - up to 14 billion soums. The source did not name the amounts paid for mandatory and voluntary insurance.

At present the country has about 32 insurers operating in the sphere of general insurance, two companies in life insurance, one in reinsurance, three brokerages, two actuarial organizations, four companies specializing in insurance assistance, and four adjust and survey organizations.

The Uzbek insurers collected premiums of 20 percent, up to 175 billion soums in 2010 compared to 2009. The total amount of insurance premiums increased by 33.2 percent - up to 27.6 billion soums.