Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Uzbekistan Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Uzbekistan includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
Uzbekistan is a Central Asian nation and a former Soviet republic.
In 2019 the total non-life premium income including personal accident and health was UZS 1.73 trn, representing a growth of 36.32% over the prior year in local currency and 24.48% growth in US dollar terms. The Uzbekistan insurance market is relatively small, with a low premium expenditure per capita and an insurance culture that is still developing.
In 2020 there were 36 locally registered insurance companies, of which 28 are non-life companies. Several major insurers are either majority state-owned or have a government shareholding.
Uzbekistan is in an earthquake region, and this is a major hazard that needs to be carefully evaluated.