According to Ministry of Finance of Uzbekistan, the volume of insurance premiums, collected on voluntary insurance products, reached 149.016 billion soums in the first half of 2014 (126.201 billion soums in January-June 2013) and mandatory insurance products – 70.973 billion soums (52.701 billion soums). The growth rate made up 18.1% and 34.7% respectively.

At the same time, the volume of collected premiums on mandatory insurance of civil liability of vehicle owners (MICLVO) rose by 37% to 43.258 billion soums and on mandatory insurance of civil liability of employers (MICLE) – by 11.7% to 14.415 billion soums.

In the first half of 2014, the insurance company cut insurance payouts by 24.6% year-on-year to 30.335 billion soums. The volume of payouts on voluntary insurance products reached 18.7 billion soums (-40.2%) and on mandatory insurance products – 11.635 billion soums (+29.5%). The payouts on MICLVO hit 5.083 billion soums (+33.1%) and MICLE – 4.793 billion soums (+26.8%).

In the reporting period, number of existing agreements fell by 6.2% to 5.693 million units. Some 3.879 million of them (-10.1%) were signed on voluntary insurance products and 1.813 million units (+3.6%) – on mandatory insurance products. The insurance companies signed 1.731 million on MICLVO products (+8.3%) and 78,841 units on MICLE products (-49.8%).

The insurance liabilities of the industry rose by 52.2% year-on-year in January-June 2014 and reached 205.937 trillion soums. The liabilities on voluntary insurance products made up 166.409 trillion soums (+60.4%) and mandatory insurance – 39.527 trillion soums (+32.8%). The volume of liabilities on MICLVO was 13.031 trillion soums (+36.3%) and MICLE – 15.179 trillion soums (+12.4%).

Investments of insurance companies of Uzbekistan exceeded 595.733 billion soums (+27.2%), of which deposits were 290.586 billion soums (+39%), securities – 236.273 billion soums (+10.4%), loans – 5.995 billion soums (+24.7%), real estate – 24.426 billion soums (+33.1%). At the same time, the companies invested 38.829 billion soums to charter capital of the enterprises (+74.1%).

Aggregate charter capital of insurance companies rose by 17.5% year-on-year to 318.445 billion soums as of the end of the first half of 2014. As of 1 July 2014, there were 34 companies in insurance markets, of which 4 are insurance brokers.

Uzagrosugurta (44.166 billion soums, growth rate – 27.1%), Uzbekinvest (25.719 billion soums, +19.1%), Kafolat (20.551 billion soums, +22%), Alfa Invest (16.981 billion soumms, +10.1%) and Kapital Sug’urta (13.021 billion soums, +43.9%) were in Top 5 of companies on the volume of collected insurance premiums in January-June 2014.

Uzagrosugurta (5.639 billion soums, +59.5%), Uzbekinvest (5.24 billion soums, -75.6%) and Uzbekinvest Hayot (4.449 billion soums, +71.8%) were top three companies on the volume of payouts in the first six months of 2014.