Insurance companies of Uzbekistan collected insurance premiums for 317.994 billion soums in nine months of 2014, which rose by 29% compared to the same period of 2013 (246.062 billion soums in Jan-Sep 2013), according to latest data of the Ministry of Finance of Uzbekistan.

The volume of insurance premiums, collected on voluntary insurance products, reached 219.811 billion soums in January-September 2014 (175.036 billion soums in Jan-Sepr 2013) and mandatory insurance products – 98.184 billion soums (71.023 billion soums). The growth rate made up 26% and 38% respectively.

In January-September 2014, the insurance company increased insurance payouts by 3% year-on-year to 53.111 billion soums. The volume of payouts on voluntary insurance products reached 31.081 billion soums (-19%) and on mandatory insurance products – 22.03 billion soums (+64%).

The insurance liabilities of the industry rose by 73% year-on-year in January-September 2014 and reached 240.168 trillion soums. The liabilities on voluntary insurance products made up 195.457 trillion soums (+83%) and mandatory insurance – 44.711 trillion soums (+41%).

Investments of insurance companies of Uzbekistan exceeded 590.443 billion soums (+20%), of which deposits were 274.184 billion soums (+23%), securities – 238.387 billion soums (+8%), loans – 6.275 billion soums (+44%), real estate – 29.115 billion soums (+53%). At the same time, the companies invested 41.384 billion soums to charter capital of the enterprises (+80%) and other investments made up – 1.098 billion soums (-51%).

Aggregate charter capital of insurance companies rose by 21% year-on-year to 337.605 billion soums as of the end of nine months of 2014 (in US dollar equivalent – US$64.3 million). As of 1 October 2014, there were 31 insurance companies in the market.

Uzagrosugurta (59.871 billion soums, growth rate – 30.2%), Uzbekinvest (37.823 billion soums, +31.3%), Kafolat (29.903 billion soums, +30.2%), Alfa Invest (21.414 billion soumms, +16.5%) and Kapital Sug’urta (21.31 billion soums, +56.83%) were in Top 5 of companies on the volume of collected insurance premiums in January-September 2014.

Uzagrosugurta (10.383 billion soums, +93.32%), Uzbekinvest (9.057 billion soums, -62.94%) and Uzbekinvest Hayot (6.95 billion soums, +51.38%) were top three companies on the volume of payouts in the first nine months of 2014.