According to Ministry of Finance of Uzbekistan, the volume of insurance premiums, collected on voluntary insurance products, reached 74.027 billion soums in the first quarter of 2014 (64.251 billion soums in January-March 2013) and mandatory insurance products – 34.973 billion soums (25.253 billionsoums). The growth rate made up 15.2% and 38.5% respectively.

At the same time, the volume of collected premiums on mandatory insurance of civil liability of vehicle owners (MICLVO) rose by 43.6% to 23.729 billion soums and on mandatory insurance of civil liability of employers (MICLE) – by 10.3% to 5.392 billion soums.

In the first quarter of 2014, the insurance company cut insurance payouts by 6.1% year-on-year to 12.718 billion soums. The volume of payouts on voluntary insurance products reached 7.359 billion soums (-11.5%) and on mandatory insurance products – 5.359 billion soums (+2.4%). The payouts on MICLVO hit 2.48 billion soums (+16.1%) and MICLE – 2.082 billion soums (+87%).

In the reporting period, number of existing agreements fell by 7.3% to 5.606 million units. Some 3.787 million of them (-15.4%) were signed on voluntary insurance products and 1.818 million units (+15.8%) – on mandatory insurance products. The insurance companies signed 1.706 million on MICLVO products (+11.5%) and 110,003 units on MICLE products (+183.2%).

The insurance liabilities of the industry rose by 14.6% year-on-year in January-March 2014 and reached 152.035 trillion soums. The liabilities on voluntary insurance products made up 113.187 trillion soums (+9.1%) and mandatory insurance – 37.848 trillion soums (+35.1%). The volume of liabilities on MICLVO was 12.084 trillion soums (+35.7%) and MICLE – 17.97 trillion soums (+42%).

Investments of insurance companies of Uzbekistan exceeded 574.63 billion soums (+19.9%), of which deposits were 281.983 billion soums (+31.7%), securities – 236.85 billion soums (+16.7%), loans – 5.642 billion soums (-0.9%), real estate – 19.874 billion soums (-26%). At the same time, the companies invested 25.382 billion soums to charter capital of the enterprises (3.2%).

Aggregate charter capital of insurance companies rose by 3.7% year-on-year to 294.561 billion soums as of the end of the first quarter of 2014. As of 1 APRIL 2014, there were 35 companies in insurance markets, of which 4 are insurance brokers.

Uzagrosugurta (21.181 billion soums, growth rate – 21.2%), Alfa Invest (12.608 billion soums, +34.8%), Uzbekinvest (12.369 billion soums, +23%), Kafolat (9.343 billion soums, +21.5%) and Asia Inshurans (8.438 billion soums, +9.9%) were in Top 5 of companies on the volume of collected insurance premiums in January-March 2014.

Uzbekinvest (2.645 billion soums, -11.7%), Uzagrosugurta (2.605 billion soums, +32.8%) and Uzbekinvest Hayot (1.581 billion soums, +27.2%) were top three companies on the volume of payouts in the first three months of 2014.