Stable macroeconomic situation in Uzbekistan, has stimulated further increase the share of services in gross domestic product of the republic, which has risen from 16,3% in 1991 to 47,2% in 2009.

The insurance market of Uzbekistan increased by 62,2% in 2009

The insurance services play an important role in ensuring the stability of economic processes in the country and social welfare, as well as in stimulating the economy. In addition, the insurance market is one of the sources of institutional investment, which further underlines its importance.

In this regard, the Uzbek government is taking active steps to create the most favorable conditions for the development of the insurance market of the Republic.

As a result, to date the insurance market of Uzbekistan demonstrates high and sustained growth, improving its quality characteristics. Gradually, the role of this segment of the financial market in the country's economy, increasing public confidence in this service.

As of April 1, 2010 on the insurance market of Uzbekistan operate 31 insurance company, a reinsurance company, 3 insurance broker, an actuarial organization and at least 5 companies that provide services to insurance assistance. Of the 29 insurance companies provide services in the field of general insurance (non-life insurance) and 2 operate in life insurance.

In 2009, the total amount of gross premiums collected by insurers amounted to 142.7 billion soums, which is 62,2% higher than in 2008. It should be noted that the growth rate of premiums in 2009 increased by 42.6 points, which is the highest in the last 7 years. As a result of insurers in 2009 was paid 19,9 billion sums of compensation. This figure is 28,3% more than the amount of payments made a year earlier.