Dominant trends in the insurance market of transition economies – a case study of Uzbekistan

In this IIL London Market webinar, Anvar Umarov explores the dominant trends shaping quickly growing and promising insurance markets in transition economies, with a particular focus on Uzbekistan – a region with significant potential in hydrocarbons, mining, uranium, and other valuable resources.

This session examines the key factors that influenced the initial development of Central Asian countries post-independence, assesses the current state of Uzbekistan’s insurance sector and identifies both positive and negative trends driving its growth. This webinar also covers:

Historical background: A brief overview of the evolution of the Uzbek insurance market from its Soviet roots to its transformation into a modern, market-driven sector​
Current market size and structure: the latest statistics on the number of companies, the volume of collected premiums, and the rapid market growth, including key figures for 2024
Digitalization and regulatory reforms: the recent reforms aimed at increasing transparency and digitalizing the sector, such as the mandatory use of the Unified Automated Information System (UAIS) for registering all insurance contracts and issuing electronic policies starting September 2024

Learning objectives

• Current state and structure of Uzbekistan’s insurance market
• Key opportunities for international reinsurers and brokers
• Strategic outlook on future trends and digital transformation
• Expansion into international markets

Speakers

• Anvar Umarov, Cert CII, Director of Global Reinsurance and International relations Centre, Uzbekinvest Export-Import Insurance Company JSC
• Chair: Maria Bogatyreva ACII CIB, Executive Director, Aon