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NEWS

Uzbekistan Insurance Industry: Key Trends and Opportunities to 2017

30 January 2013

www.sbwire.com of 1/30/2013 - The report "The Insurance Industry in Uzbekistan, Key Trends and Opportunities to 2017" provides in depth market analysis, information and insights into the insurance industry in Uzbekistan, including:


- The Uzbek insurance industry's growth prospects by insurance segments and categories
- The competitive landscape in the Uzbekistan insurance industry
- The current trends and drivers of the Uzbekistan insurance industry
- The challenges facing the Uzbekistan insurance industry
- The regulatory framework of the Uzbekistan insurance industry

Summary
The Uzbek insurance industry is a highly competitive industry. The key factors affecting the performance of the Uzbek insurance industry during the review period include fierce competition in the non-life segment, rise in claims ratio and increase in minimum authorized capital requirements. The Uzbek insurance industry increased at robust CAGR during the review period, primarily supported by the non-life insurance segment. Both, voluntary and compulsory insurance classes recorded healthy growth in insurance premiums in 2011. The majority of the insurance business is generated from Tashkent, the capital of Uzbekistan. The financial crisis and European debt crisis did not have any significant impact on the performance of insurance industry during the review period. A stable surplus budget, the high level of official reserves, a stable banking system and prudent borrowing on international financial markets defended the country from the direct effects of the global crisis. Projected robust economic growth in Uzbekistan is expected to drive performance of the insurance industry over the forecast period.  [For more information about the report, please click here]