TASHKENT, Uzbekistan, February 9. The total authorized capital of insurance organizations in Uzbekistan amounted to more than 2.3 trillion soums ($186.4 million) in 2023, which is 22.6 percent more year-on-year, Trend reports.
As per data of Uzbekistan's National Agency of Perspective Projects, the volume of insurance companies' investments in the country's economy exceeded 6.2 trillion soums ($502.5 million). The growth amounted to 29.4 percent year-on-year.
The investment portfolio of insurance companies mainly consists of deposits in commercial banks (65.6 percent) and securities (22.1 percent).
The amount of paid insurance claims amounted to 2 trillion soums ($162.1 million) in 2023, of which 1.5 trillion soums ($121.5 million) were paid in the field of general insurance and 453.5 billion soums ($36.7 million) in the field of life insurance.
Furthermore, the number of concluded insurance contracts reached 9.1 million in 2023, up 14.9 percent over year.
The shares of insurance payments in general insurance and the amount of insurance premiums in life insurance amounted to 25 percent and 220,000 soums ($17), respectively.
Earlier, the National Agency for Advanced Projects of Uzbekistan (NAPP) cancelled the license of several insurance companies.