Uzbek insurers increase collection of premiums by 16 percent
Uzbekistan, Tashkent, Nov. 5 / Trend D.Azizov /
In January-September 2012, Uzbek insurance companies increased the collection of premiums to 192.2 billion sums, by 16 percent compared with the same period in 2011, a government source told Trend on Monday.
Aggregate insurance premiums decreased by four per cent since the beginning of the year, amounting to $ 35.6 billion sums.
In the total volume, payments on compulsory insurance accounted for 29.4 percent, while voluntary - for 70.6 percent
The payment on voluntary insurance declined by 10.2 percent to 25.1 billion sums, mandatory insurance rose by 15 percent to 10.5 billion sums.
The loss ratio for voluntary insurance market in general amounted to 18.7 percent, mandatory insurance - to18.1 percent compared to 23.7 and 19.2 percent, respectively.
As of the end of third quarter, 34 insurance companies are operating in the republic, two of them - in the life insurance industry, one reinsurance company and 34 insurers - in general insurance..
In addition, the insurance market has three insurance brokers, two actuarial organizations, four companies providing insurance assistance, and four adjusting and survey organizations.
In 2011, insurance companies of Uzbekistan increased premiums by 36.6 percent compared to the totals in 2010 - up to 231.6 billion sums, the volume of payments increased by 4.5 percent - up to 14 billion sums.
The official exchange rate on November 5 is 1956.21 sum / $ 1