Living in Uzbekistan


Currently, national insurance market is demonstrating rapid and steady growth rates, improved is its quality features, share of insurance services is increased in GDP, that implies in the nearest perspective significant increase of the role of insurance companies in the national economy.

In 2007, insurance companies of Uzbekistan received premium at the amount of 72.3 billion Soums and paid 7.9 billion Soums. Compared to 2006, premium amount increased by 45%, amount of payments increased by 14.5%.

In 2006, in the structure of premiums, the biggest share of 73.7% was property insurance. Share of voluntary insurance of liabilities in premium comprised 1.3%, personal insurance 11.8%. Another13.3% wasmandatorytypesofinsurance.

Compared to 2006, the structure of premium did not undergo significant changes: shares of segments varied within 3 percent items.

In 2007, the biggest premium the companies received was on voluntary property insurance about 54.6 billion Soums. Compared to 2006, premium on property insurance increased by 48.7%.

The following insurance companies were years top three: Uzbekinvest, Uzagrosughurta, and UVT Inshurans with total 53.4% of the market. Totally, as of the 1 January, 2008, in Uzbekistan, there were 27 insurance companies, including 25 companies on non-life insurance, 1 life insurance and 1- on reinsurance.

In 2006, investment assets of insurance companies of Uzbekistan exceeded 182.4 billion Soums, which is 11.5% more than in 2005.

As of the beginning of 2007, aggregate charter capital of insurance companies exceeded 15.8 billion Soums and more than 66.7 billion Soums. Compared to 2005, charter capital both in Soums and US $ increased more than twice.

As of the 1 January 2007, about 44% of insurance companies of Uzbekistan had charter capital of more than 1 billion Soums, 26% companies from 500 million Soums to 1 billion Soums. Another third of insurers is operating with charter capital below 500 million Soums.

According to Insurance Supervision of Uzbekistan, share of aggregate insurance premium in GDP for the last several years has been steady 0.3%.// RP Newsline

Top ten insurance companies of Uzbekistan by volume of received premiums 


Market share, %





UVT Inshurans


Standard Insurance Group






Asia Inshurans


Kapital Sug'urta


Alfa Invest


Transinsurance plus


Source: Insurance Supervision of Uzbekistan
Exchange rate of US $ towards Uzbek Soum as of 31 December, 2006:
1US$ = 1241.1Soum
Source: National Bank of Uzbekistan

Insurance companies

Uzbekinvest  (marketshare 23.7%)

 National Export-Import Insurance Company Uzbekinvest represents multi-profile insurance company, which fulfills functions both of state agency on insurance of export contracts and loans of commercial banks.
One of specific features of forming sustainable financial system of Uzbekistan and development of reliable instruments of protection from financial losses, used in international practice, became establishment in 1994 of the National Insurance Company Uzbekinvest, and then, in accordance with the Decree of the President of the Republic of Uzbekistan of 18 February, 1997, UP- 1710, transformation into the National Export-Import Insurance Company Uzbekinvest. The Company Uzbekinvest has license for insurance activity 00001-F and 00045-F on all current classes of general insurance in Uzbekistan.

Charter capital of the Company is US$60 million.


  • Ministry of Finance of the Republic of Uzbekistan - US$50 million.
  • National Bank of Uzbekistan - US$10 million.

    Uzagrosughurta  (marketshare 19.4%)

State Joint Stock Insurance Company Uzagrosughurta was established by the Decree of the President of the Republic of Uzbekistan of 25 February, 1997, UP-1713 On Establishment of State Joint Stock Insurance Company Uzagrosughurta and carries out its activity in accordance with the Resolution of the Cabinet of Ministers of 6 March, 1997,  125 On Organizing Activity of State Joint Stock Insurance Company Uzagrosughurta.

Shareholders of the Company announced charter capital at the amount of 2,000.0 million Soums:
- Ministry of Finance of the Republic of Uzbekistan 1,500.0 million Soums;
- Association Uzgoshlopkoprom (cotton industry) 250.0 million Soums;
- Corporation Uzdonmahsulot (wheat products) 100.0 million Soums;
- Commercial Bank Pahtabank 35.0 million Soums;
- Commercial Bank Ghallabank  - 10.0 million Soums;
- Commercial Bank Mevasabzavotbank  - 5.0 million Soums;
- Free Sale 100.0 million Soums.

Standard Insurance Group (market share 17.2%)

 Insurance Company Standard Insurance Group carries out its activity on the basis of license of the Ministry of Finance of the Republic of Uzbekistan 00044 of 29 March, 2005. Standard Insurance Group was established with participation of foreign investors, as well as national industrial enterprises, companies and bank. Paid up charter capital at the amount of US$ 500,000 has been formed completely.

The Subject of activity of the Company is providing insurance services, established by the current legislation of Uzbekistan in the field of general insurance (personal insurance, property insurance, liability insurance and other kinds of insurance, not related to the field of life insurance).

UVT-INShURANS (marketshare 14.4%)

DC IC UVT-INShURANS has more than 5 years experience in field of insurance of cargoes exported abroad and to the former Soviet republics. It provides reliable insurance protection.

The reliability of the company is ensured through weighted and open tariff policy and the practice of international distribution of risks and cooperation with leading reinsurance companies on the international markets. Thanks to this, in the event of insurance accidents, all issues on insurance payments to the insured are sorted out within shortest time. 

Kafolat (marketshare 6.9%)

Established in March 1997 on the basis of the Resolution of the Government, the State Joint Stock Insurance Company Kafolat is one of the leading companies on the insurance market of Uzbekistan.

Charter capital of the company has been formed at the amount of more than 2.0 billion Soums, the value of assets exceeds 6.1 billion Soums, out of which more than 4.0 billion Soums falls on capital investments.

The Company has licenses of the Ministry of Finance of the Republic of Uzbekistan for insurance transactions on all 17 classes in the field of general insurance.

Today, the Company is offering the population and corporate customers about 50 kinds of mandatory and voluntary types of insurance.

ALSKOM (marketshare 3.2%)

 Registration at the Ministry of Justice of the Republic of Uzbekistan (as legal entity) - 813 of 24 September, 1996, re-registration of 18 November, 1999.

Re-registration for Uzbek-Russian JV Insurance Company ALSKOM in the form of open joint stock company 3423 of 21 November, 2002.

Today, the Company is offering complex insurance to legal entities and individuals and is one of stable companies on the insurance market of Uzbekistan.

Policy of our Company: individual approach to each customer and economically feasible and rational insurance scheme.

We value the attention of our customers and do not doubt that our cooperation will be mutually beneficial.

In 2006, the Company takes the sixth place on the volume of collected insurance premium among top 10 insurance companies of our country.

The Company was ranked uzbB++ Sufficient level of reliability .

The formed charter capital of ALSKOM is 1,137,358, 000 (One billion hundred thirty seven millions three hundred fifty eight thousand) Soums.

ASIA INSHURANS (marketshare 2.4%)

Limited liability Insurance Company ASIA INSHURANS was established in April 2005. The Company has licenses F 00046 of 13 May, 2005, F 00052 of 20 September, 2005, F 00061 of 17 April, 2006 for insurance activity in voluntary and mandatory formats.

In the context of license classes of insurance IC ASIA INSHURANS, Ltd. Developed 30 types of insurance, among which is insurance of equipment against breakage, insurance of cargoes, insurance of electronic devices, insurance of drilling works, including liability insurance in carrying out these works and tec.

Charter capital of the Company ASIA INSHURANS is US$ 1.278 milion (on the Central Bank exchange rate), (the letter of the Ministry of Justice of the Republic of Uzbekistan 08-68 of 30 January, 2006, protocol 1232 of 30 January, 2006),assets of the company (as of the 30 September, 2006) exceeded 2.3 billion Soums, which is about US $1.9 million.

MFERITMEDEF InternationalInternational Business CenterGov.uzPress ServiceOliy MajlisUzASARIO