Uzbek insurance companies collect 381bn soums of premiums in 1Q

Tashkent, Uzbekistan (UzDaily.com) -- Insurance companies in Uzbekistan collected insurance premiums worth 381 billion soums in the first quarter of 2018, which is 83% more compared to the same period in 2017, according to data of the Ministry of Finance of Uzbekistan.

The volume of insurance premiums on voluntary insurance products increased more than twice - to 316.02 billion soums in January-March 2018. Premiums from compulsory insurance products reached 64.98 billion soums in the reporting period.

Insurance payments in the first quarter of 2018 compared to the same period in 2017 increased by 10% and amounted to 82.71 billion soums. The companies made payouts on voluntary insurance products for 64.15 billion soums and compulsory insurance – 18.57 billion soums.

In the first quarter, investment of insurance companies in Uzbekistan made up 1.56 trillion soums, which is 72% higher compared to the same period of 2017. About 729.45 billion soums were sent to deposits (growth – 80%) and securities - 654.91 billion soums (+73%).

Uzbek insurers sent 100.59 billion soums to real estate (+ 95%), 64.4 billion soums to charter capital of enterprises (unchanged). At the same time, the volume of loans exceeded 10.66 billion soums (+ 53%). Other investments decreased by 83% - up to 560.7 million soums.

The total authorized capital of insurance companies of Uzbekistan grew by 31% in January-March 2018 compared to the first quarter of 2017 and made up 346.17 billion soums.

Uzbekinvest (87.74 billion soums), Uzagrosugurta (42.33 billion soums) and Alfa Invest (33.61 billion soums) became leaders of the first quarter of 2018 in terms of collected premiums.

Uzagrosugurta (42.15 billion soums), Insurance Company Kafolat (7.62 billion soums) and Uzbekinvest Hayot ( 6.21 billion soums) were in Top-3 on the volume of insurance payouts.

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