Uzbek insurers increase investment more than a quarter in Q1 and Q2

Business Materials 8 August 2014 10:55 (UTC +04:00)

Tashkent, Uzbekistan, August 6
By Demir Azizov- Trend:

Uzbek insurers increased the total amount of investments by 27.2 percent up to 595.733 billion soums in January - June 2014 compared to the same period last year, Uzbek Finance Ministry reported.

The share of deposits in total investment of insurers increased by 48.7 percent versus 44.9 percent a year earlier, the investment made in real estate - up to 4.1 percent versus 3.9 percent, participation in the authorized funds of the enterprises - up 6.5 percent versus 4.9 percent. The share of investments in securities decreased by 39.7 percent versus 45.3 percent, the share of loans remained at the same level in last year - at the rate of 1 percent.

At the same time, the total volume of deposits of the insurance companies increased by 39 percent - up to 290.586 billion soums, investments in securities - by 10.4 percent up to 236.273 billion soums.
As of July 1 some 30 insurance companies with a total registered capital in the amount of 318.446 billion soums have operated in in Uzbekistan in the first half of 2014, according to the ministry.

In January - June, Uzbek insurers increased premiums collected by 23 percent up to 219.99 billion soums compared to the same period last year. The volume of payments decreased by 24.6 percent - to 30.33 billion soums.

The official exchange rate of the Central Bank of Uzbekistan on August 6 is 2336.20 UZS / USD.

Edited by CN