Lewes, DE -- (ReleaseWire) -- 02/13/2014 -- Uzbekistan’s insurance industry is highly competitive. The key factors that affected the Uzbek insurance industry’s performance during the review period (2008–2012) included fierce competition in the non-life segment, a rise in claims ratios and an increase in minimum authorized capital requirements. The Uzbek insurance industry recorded a CAGR of 34.3% during the review period, primarily supported by the non-life segment. Voluntary and compulsory insurance classes recorded healthy growth in insurance premiums in 2012. The majority of the insurance business (68.6% in 2012) is generated from Tashkent, the capital of Uzbekistan. The financial crisis and European debt crisis did not have any significant impact on the country’s insurance industry during the review period. A stable surplus budget, high levels of official reserves, a secure banking system and prudent borrowing on the international financial markets defended the country from the direct effects of the financial crisis. The projected robust economic growth in Uzbekistan is expected to drive performance of the insurance industry over the forecast period (2013-2017).
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The report provides in-depth industry analysis, information and insights of the insurance industry in Uzbekistan, including:
- The Uzbek insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Uzbek insurance industry
- The current trends and drivers of the Uzbek insurance industry
- Challenges facing the Uzbek insurance industry
- The regulatory framework of the Uzbek insurance industry
- A benchmarking section on the Uzbek insurance industry in comparison to other countries in the CIS region
Find other reports on Uzbekistan Market at: http://www.marketresearchreports.com/countries/uzbekistan
This report provides a comprehensive analysis of the insurance industry in Uzbekistan:
- It provides historical values for the Uzbek insurance industry for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period.
- It offers a detailed analysis of the key segments and categories in the Uzbek insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Uzbekistan, and outlines the key regulations affecting them.
Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Uzbek insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Uzbek insurance industry.
- Assess the competitive dynamics in the Uzbek insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
- Gain insights into key regulations governing the Uzbek insurance industry and its impact on companies and the industry's future.
- The key factors that affected the Uzbek insurance industry’s performance during the review period (2008–2012) included fierce competition in the non-life segment, a rise in claims ratios and an increase in minimum authorized capital requirements.
- The government’s insurance-related initiatives are expected to generate growth in the industry over the forecast period.
- The industry is moderately concentrated and the cumulative share of the five leading insurance companies fell during the review period.
- Private insurance companies were dominant in 2012, controlling around 60% of the insurance industry, while the remainder was represented by state-owned companies.
- There were 31 non-life insurers, two life insurers and one reinsurer operating in the insurance industry as of 2012.
- The insurance regulator increased the minimum authorized capital of insurance companies in July 2012, and has announced plans to further raise the capital requirement in 2014.
Spanning over 149 pages, 78 tables and 118 figure, “The Insurance Industry in Uzbekistan, Key Trends and Opportunities to 2017” report covering the Regional Market Dynamics, Life Insurance – Regional Benchmarking, Non-Life Insurance – Regional Benchmarking, Personal Accident and Health Insurance – Regional Benchmarking, Uzbek Insurance Industry Overview, Industry Segmentation, Competitive Landscape, Macroeconomic Indicators, Appendix. The report covered 5 companies - Uzagrosugurta, Uzbekinvest National Export-Import Insurance Company, Asia Inshurans, Kafolat JSC, UVT-Inshurans Insurance Company.
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