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Finance 01/08/2013 Uzbek insurance companies collect premiums for 191.189bn soums in 1H
Uzbek insurance companies collect premiums for 191.189bn soums in 1H
Tashkent, Uzbekistan (UzDaily.com) -- Insurance companies of Uzbekistan collected insurance premiums for 191.189 billion soums, which grew by 43.16% year-on-year (132.994 billion soums in 1H 2012).

According to the Ministry of Finance of Uzbekistan, the volume of collected premiums on voluntary insurance products made up 137.657 billion soums in January-June 2013 (90.923 billion soums in 1H 2012) and mandatory insurance products – 53.532 billion soums (42.071 billion soums). The growth rate made up 51.4% and 27.24% respectively.

At the same time, the volume of premiums on mandatory insurance of civil liability of vehicle owners (MICLVO) rose by 21.33% to 30.824 billion soums and on mandatory insurance of civil liability of employers (MICLE) – by 24.01% to 14.266 billion soums.

In the first half of 2013, the insurance companies increased payouts by 72.83% year-on-year to 40.771 billion soums. The volume of payouts on voluntary insurance products reached 31.645 billion soums (+93.16%) and on mandatory insurance products – 9.126 billion soums (+26.63%). The volume of payouts on MICLVO reached 3.756 billion soums (+18.3%) and MICLE – 3.745 billion soums (+30.43%).

Number of acting agreements grew by 6.95% to 5.953 million units, of which 4.347 million units (+3.65%) were signed within voluntary insurance products and 1.606 million units (+17.02%) – on mandatory products. The insurance companies signed 1.56 million agreement within MICLVO (+16.84%) and 42,849 agreements within the MICLE (+20.18%).

In January-June 2013, the insurance liabilities of the industry rose by 36.16% year-on-year to 153.322 trillion soums. The liabilities on voluntary insurance products reached 120.032 trillion soums (+32.66%) and on mandatory insurance – 33.29 trillion soums (+50.48%). The volume of liabilities on MICLVO reached 10.17 trillion soums and MICLE – 14.907 trillion soums.

Investments of the insurance companies of Uzbekistan exceeded 500.274 billion soums (+28%), of which deposits made up 224.587 billion soums (+23.16%), securities – 212.471 billion soums (+30.89%), loans – 5.935 billion soums (+13.69%), real estate – 27.043 billion soums. At the same time, the companies invested 27.802 billion soums into charter capitals of the enterprises (+38.78%).

According to the Ministry of Finance, 34 insurance companies operated in Uzbekistan in January-June 2013. At the same time, the license of one company was revoked in the reporting period.

Aggregate charter capital of the insurance companies grew by 20.94% year-on-year to 293.654 billion soums in the reporting period.

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