Tashkent, Uzbekistan (UzDaily.com) -- In 2023, the total authorized capital of insurance organizations in Uzbekistan made up more than 2.3 trillion soums, which is 22.6% more than the previous year. This was reported by the National Agency for Prospective Projects of Uzbekistan.

The volume of investments by insurance companies in the country’s economy exceeded 6.2 trillion soums The growth compared to 2022 was 29.4%.

The investment portfolio of insurance companies mainly consists of deposits in commercial banks (65.6%) and securities (22.1%).

In 2023, the amount of insurance compensation paid amounted to 2 trillion soums, of which 1.5 trillion soums were paid in the field of general insurance and 453.5 billion soums in the field of life insurance.

The number of concluded insurance contracts reached 9.1 million units, which is 14.9% higher compared to 2022.

The shares of insurance payments for general insurance and the amount of insurance premiums for life insurance amounted to 25.0% and 220,000 soums (US$18.0), respectively.