Uzbek insurance company "Uzbekinvest" significantly expanded its operations in the international insurance market in 2023, achieving a gross collection of reinsurance premiums amounting to 693.4 billion soums. The company successfully collected premiums for incoming reinsurance totaling 53 million dollars in 136 countries, with the export services in its insurance portfolio increasing from 0.1% to 48.5% over the past seven years.
The company entered into 331 reinsurance contracts with recognized transnational insurance and global reinsurance companies and brokers such as Allianz SE from Germany, Zurich Insurance Group from Switzerland, Tokio Marine & Nichido Fire Insurance Co from Japan, AXA from France, People Insurance Company of China, Korean Reinsurance Company from South Korea, Marsh from the USA, AON, UIB, Consilium Insurance Brokers Ltd. from the UK, and others.
Reinsurance reimbursements in the external market grew from 130 dollars over the past seven years to nearly 6 million dollars in 2023. The company's reliability and financial stability were once again confirmed by international and national rating agencies.
In May 2023, Moody’s Investors Service, one of the top three international rating agencies alongside Standard & Poor’s and Fitch Ratings, raised the forecast for the financial stability rating of "Uzbekinvest" to "Positive" with a "Baa3" rating.
These indicators recognize "Uzbekinvest" as an active and authoritative participant in the international insurance market by international players and foreign partners. In 2024, the company will continue to expand its insurance and reinsurance service volumes, enhance operational efficiency, service quality, and reliability to international standards for its clients and international partners.
