Tashkent, Uzbekistan (UzDaily.com) — In the first quarter of 2025, insurance companies in Uzbekistan collected a total of 2.63 trillion soums in premiums, marking an 18.8% increase compared to the same period last year, according to a report released by the National Agency for Advanced Projects (NAAP).

NAAP data shows that the general insurance segment accounted for 2.43 trillion soums, up by 12.6% year-on-year. Meanwhile, life insurance companies demonstrated remarkable growth, collecting 195.64 billion soums in premiums — a 278.4% surge compared to Q1 2024.

Total insurance payouts for January to March 2025 amounted to 643.64 billion soums, an increase of 13.6% from the previous year. Of that, general insurance payouts reached 596.34 billion soums (a 15.7% rise), while life insurance payouts stood at 47.3 billion soums.

As of the end of Q1 2025, the total liabilities of insurance companies exceeded 2.778 quadrillion soums, a 1.7% decrease from the same point in 2024.

The total volume of investments held by the insurance sector surpassed 7.3 trillion soums, reflecting a 19.3% increase year-on-year. The majority of these investments — 69.2% — were placed in bank deposits, followed by 18.9% in securities, and 7.8% in real estate.

As of March 31, 2025, there were 34 insurance companies operating in Uzbekistan, three fewer than the previous year. Of these, six specialize in life insurance.

Apex Insurance led the general insurance segment in terms of premiums collected, with 721.3 billion soums, despite a 20.2% decline compared to Q1 2024. Uzbekinvest ranked second with 290.9 billion soums (up 7.6%), followed by My-Insurance in third place with 150.4 billion soums (up 41.9%).

In the life insurance segment, Apex Life Insurance maintained a commanding lead, collecting 168.7 billion soums in premiums — an astonishing 630.5% increase year-on-year. Agros Hayot ranked second with 12.1 billion soums (up 89.6%), while Alfa Life Insurance came third with 7.5 billion soums (up 20.7%).

In terms of insurance payouts within general insurance, My-Insurance ranked first, disbursing 145.71 billion soums. Apex Insurance followed with 76.99 billion soums, and another company ranked third with 53.07 billion soums in payouts.

In the life insurance category, Apex Life Insurance again led with 24.08 billion soums in claims paid. Agros Hayot came second with 13.25 billion soums, and Alfa Life Insurance was third with 4.4 billion soums.

My-Insurance also had the largest number of active insurance contracts, with a portfolio of 1.2 million contracts — a 43.2% increase from the previous year. Apex Insurance held second place with 988,500 contracts (up 3.1%), while Gross Sug’urta Kompaniyasi ranked third with 853,300 contracts in force (up 17.8%).