Insurance companies of Uzbekistan collected insurance premiums for 222.366 billion soums in the first half of 2014, which rose by 24.3% compared to the same period of 2013 (178.902 billion soums in 1H 2013).

The volume of insurance premiums, collected on voluntary insurance products, reached 150.973 billion soums in the first half of 2014 (126.201 billion soums in January-June 2013) and mandatory insurance products – 71.393 billion soums (52.701 billion soums). The growth rate made up 19.6% and 35.5% respectively.

At the same time, the volume of collected premiums on mandatory insurance of civil liability of vehicle owners (MICLVO) rose by 35.4% to 42.754 billion soums and on mandatory insurance of civil liability of employers (MICLE) – by 24.2% to 16.027 billion soums.

In the first half of 2014, the insurance company cut insurance payouts by 16.9% year-on-year to 33.456 billion soums. The volume of payouts on voluntary insurance products reached 20.065 billion soums (-35.8%) and on mandatory insurance products – 13.391 billion soums (+49.1%). The payouts on MICLVO hit 5.241 billion soums (+37.2%) and MICLE – 6.249 billion soums (+65.3%).

In the reporting period, number of existing agreements fell by 3.1% to 5.881 million units. Some 3.943 million of them (-8.7%) were signed on voluntary insurance products and 1.938 million units (+10.7%) – on mandatory insurance products. The insurance companies signed 1.776 million on MICLVO products (+11.2%) and 156,561 units on MICLE products (+5%).

The insurance liabilities of the industry rose by 41.9% year-on-year in January-June 2014 and reached 189.479 trillion soums. The liabilities on voluntary insurance products made up 146.496 trillion soums (+41.2%) and mandatory insurance – 42.982 trillion soums (+44.4%). The volume of liabilities on MICLVO was 13.4 trillion soums (+40.2%) and MICLE – 18.771 trillion soums (+38.5%).

Investments of insurance companies of Uzbekistan exceeded 589.779 billion soums (+25.9%), of which deposits were 284.644 billion soums (+36.1%), securities – 234.272 billion soums (+10.9%), loans – 5.883 billion soums (+22.3%), real estate – 24.3 billion soums (+32.4%). At the same time, the companies invested 38.065 billion soums to charter capital of the enterprises (+70.6%).

Aggregate charter capital of insurance companies rose by 18.6% year-on-year to 321.651 billion soums as of the end of the first half of 2014. As of 1 July 2014, there were 34 companies in insurance markets, of which 4 are insurance brokers.

Uzagrosugurta (45.136 billion soums, growth rate – 29.9%), Uzbekinvest (26.259 billion soums, +21.6%), Kafolat (20.042 billion soums, +19%), Alfa Invest (17.588 billion soumms, +14%) and Kapital Sug’urta (13.575 billion soums, +50%) were in Top 5 of companies on the volume of collected insurance premiums in January-June 2014.

Uzagrosugurta (7.194 billion soums, +103.5%), Uzbekinvest (5.859 billion soums, -72.7%) and Uzbekinvest Hayot (4.535 billion soums, +75.1%) were top three companies on the volume of payouts in the first six months of 2014.