16 Oct 2009 15:06

Aggregate insurance premium collection in Uzbekistan soared 58% in 9 months

TASHKENT. Oct 16 (Interfax) - Insurance companies in Uzbekistan in January-September 2009 boosted premium collection 58.2% year-on-year to 99.8 billion sum, a government source told Interfax.

Optional types of insurance brought in 66.97 billion sum or 67.1% of the total amount compared to 93.2% last year and mandatory insurance 32.83 billion sum or 32.9% up from 6.8%.

The hike in mandatory insurance premium collection stems from the introduction of mandatory liability insurance of the owners of motor vehicles introduced in October last year.

Uzbekistan currently has 29 general purpose insurance companies, two life insurers, one reinsurer, three insurance brokers, one actuary company and five companies offering insurance assistance services.

In 2008 aggregate premium collection in Uzbekistan grew 18% 87.1 billion sum and insurance payouts 62.9% to 14.2 billion sum.

The official exchange rate for October 16 is 1,501.4 sums/$1.