Uzbekistan, World Bank develop national disaster insurance strategy

Uzbekistan, in cooperation with the World Bank, is preparing a national strategy for natural disaster insurance based on international experience, Ulugbek Khasanov, head of the National Agency for Advanced Projects of Uzbekistan, said at the Insurtech-2025 Summit of Turkic States.

According to Report, Khasanov noted that the country's insurance market is showing steady growth: total insurance premiums have reached $500 million, a 146% increase, while insurance payouts rose to $100 million, up 119%. The number of active insurance contracts reached 12 million, and total investments grew to $700 million, marking a 140% increase.

He emphasized the importance of reinsurance development, stating: "In May, Uzbekistan established its first national reinsurance company, which will strengthen domestic financial capacity and reduce risks."

Khasanov also highlighted that digital solutions are being implemented to enhance transparency and efficiency in the insurance sector, alongside a risk-based Solvency II approach aimed at improving market resilience.