Uzbekistan Insurance Industry – Key Trends and Opportunities to 2027

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Uzbekistan Insurance Market Report Overview

The gross written premium of the Uzbekistan insurance market was UZS6,231.7 billion ($561.3 million) in 2022. The market is expected to achieve a CAGR of more than 10% during 2023-2027.

Uzbekistan Insurance Market Outlook, 2022-2027 (UZS Billion)

Uzbekistan Insurance Market Outlook, 2022-2027 (UZS Billion)For more insights into the Uzbekistan insurance market forecast, download a free report sample

The Uzbekistan insurance market research report provides a detailed outlook by product category for the Uzbekistan insurance industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period. The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Uzbekistan economy and demographics, and provides detailed information on the competitive landscape in the country.

Market Size (2022) UZS6,231.7 billion ($561.3 million) (GWP)
CAGR (2023-2027) >10%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Segments Life Insurance and General Insurance
Leading Players Uzbekinvest National Insurance, New Life, Alskom Vita, Apex Life Limited Liability, Ozbekinvest Hayot, Euroasia Life, Kafolat Hayot, Agroshayot, and Alfa Life among others

Uzbekistan Insurance Market Trends

Agriculture insurance and medical insurance are some of the key trends impacting the Uzbekistan insurance market. For instance, in December 2022, Semurg Insurance introduced garden and vineyard insurance. This insurance plan protects grape farmers in the event of a lower crop yield, and provides for compensation payouts, protecting them from financial risks. Swiss Re was involved in developing this insurance policy.

Furthermore, from July 2023, a new medical insurance system will be introduced in Tashkent and Navoi. Significant capital is being invested into the healthcare system, to equip 72 polyclinics and 40 hospitals in the city.

Uzbekistan Insurance Market by Segments

The key segments in the Uzbekistan insurance market are life insurance and general insurance. The general insurance segment dominated the market in 2022.

Life Insurance: The growth in the life insurance sector in Uzbekistan can be attributed to the expansion of the classification of life insurance activities, which contributed to the creation of new types of insurance classes such as ‘life insurance to cover liabilities’, ‘long-term voluntary pension insurance’, and ‘life insurance with capital return’.

General Insurance: The Uzbekistani general insurance sector accounted for more than 75% of the total insurance industry’s GWP. In 2022, the penetration of the general insurance sector remained less than 1%, which is lower than the emerging and developed markets’ average.

Uzbekistan Insurance Market Analysis by Segments, 2022 (%)

Uzbekistan Insurance Market Analysis by Segments, 2022 (%)

For more segment insights into the Uzbekistan insurance market, download a free report sample

Uzbekistan Insurance Market – Competitive Landscape

The key companies in the Uzbekistan insurance market are Uzbekinvest National Insurance, New Life, Alskom Vita, Apex Life Limited Liability, Ozbekinvest Hayot, Euroasia Life, Kafolat Hayot, Agroshayot, and Alfa Life among others. Uzbekinvest National Insurance was the largest insurer in 2022, accounting for a more than 144% share of GWP. It was followed by Apex Insurance and New Life Insurance.

Uzbekistan Insurance Market Analysis by Insurers, 2022 (%)

Uzbekistan Insurance Market Analysis by Insurers, 2022 (%)

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This report provides a comprehensive analysis of the Uzbekistan insurance industry –

  • It provides historical values for the Uzbekistan insurance industry for the report’s 2018-22 review period, and projected figures for the 2023-27 forecast period.
  • It offers a detailed analysis of the key categories in the Uzbekistan insurance industry and market forecasts to 2027.
  • It profiles the top life insurance companies in Uzbekistan and outlines the key regulations affecting them.

Key Highlights

  • Key insights and dynamics of the Uzbekistan insurance industry.
  • A comprehensive overview of the Uzbekistan economy, government initiatives, and investment opportunities.
  • The Uzbekistan insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
  • The Uzbekistan insurance industry’s market structure giving details of lines of business.
  • Uzbekistan’s reinsurance business’s market structure giving details of premium ceded along with cession rates.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Uzbekistan insurance industry, and each category within it.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Uzbekistan insurance industry.
  • Assess the competitive dynamics in the Uzbekistan insurance industry.
  • Identify growth opportunities and market dynamics in key product categories.

Uzbekinvest National Insurance
Kafolat Insurance
My Insurance
New Life Insurance
O’Zbekinvest Hayot
Alfa Invest Limited Liability
Euroasia Insurance
Gross Insurance

Table of Contents

Executive Summary

Economy Overview

GlobalData Country Risk Index (GCRI) 2022

Regulation and Compliance

Key Market Trends

Life Insurance: Trends and KPIs

Life Insurance: Key Trends by LOB

General Insurance: Trends and KPIs

General Insurance: Key Trends by LOB

Competitive Landscape



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