Uzbekistan news for February 26, 2010

In this issue:

2 Corporate news
2 Concentration of TOP 5 Uzbek insurance companies falls to 55.5% in 2009
2 UzACI, KETI officials discuss issues of developing ties
2 Last week’s major legislation news
3 Industry news
3 Industrial output of Uzbekistan makes up 28.009 trln. soums in 2009
3 Volume of credit portfolio of ACU members and partners up 59.7% in 2009
3 Aggregate assets of Uzbek credit unions grow by 62.7% to 94.5 billion soums
3 Insurance liabilities increase 1.5 times to 53.5 trillion soums in 2009
4 Politics and Economics
4 Inflation exceeded 7 percent in Uzbekistan in 2009
4 Number of unemployed reduced by 12 percent in Uzbekistan
4 Upcoming events
5 UzSE
6-7 Real Estate commercial offers
8 Tenders list
9 AFS Research productline
10 AFS Research services
 

Concentration of TOP 5 Uzbek insurance companies falls to 55.5% in 2009
 

The level of concentration of the Uzbek insurance market is decreasing gradually every year. If in 2008 the level of concentration on the TOP 5 insurance companies was over 60%, then on results of 2009 it fell by 4.5% to 55.5%.
The share of one company in the aggregate insurance premiums is more than 18% and one more – over 14%. Other companies occupy shares in the market less than 10%.
On the volume of insurance premiums collected in fact the first two positions belong to insurance companies with state stake – Uzagrosugurta and Uzbekinvest.
The first one is specialized in the agricultural insurance, and actively working in other spheres of activity as a universal insurer. The activity of Uzagrosugurta differs with a large share of earnings from individuals. The share of premiums collected from individuals on Uzagrosugurta made up 59.1%.
The activity of Uzbekinvest on the contrary differs with a large share of insurance deals with legal entities. The share of insurance premiums collected from legal entities on Uzbekinvest comprised 85.5%.
UVT Inshurans and Ingo Uzbekistan occupy the third and fourth positions respectively. The volumes of earnings of these companies are formed mainly due to the agreements signed with legal entities.
And the last in the TOP 5 leading insurers is Kafolat with a bulk of premiums collected on the agreements signed with individuals. The volume of premiums collected by this company from individuals made up 53%. (ca-news.org)
 

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