Uzbekistan, Tashkent, Feb.7 / Trend D.Azizov /
The Uzbek insurers increased total volume of investments by 23 per cent to reach 367.4 billion soums in 2011 compared to 2010, the Uzbek analytical SAIPRO company said on Tuesday.
According to SAIPRO, share of deposits in the total investments of insurers increased up to 45.1 per cent compared to 44.2 per cent in 2010, share of deposits in securities amounted to 41.2 per cent compared to 41 per cent in 2010.
Investment in property amounted to 6.5 per cent in 2011, decreasing by 0.7 per cent, share in authorized capitals of enterprises - 5.6 per cent (a 5.8 per cent decrease), share of loans - 0.97 per cent (1.2 per cent in 2010), other investment - 0.33 per cent (0.6 per cent).
Total volume of deposits of insurance companies increased by 25.4 per cent to hit 165.7 billion soums, investments in securities - by 23.7 per cent to hit 151.5 billion soums.
In the structure of deposits the main part, 93.3 per cent, fell to deposits in commercial banks in 2011, and the remaining part - to loan unions and microcredit organizations.
The leader in terms of investment volume in 2011 is still National company of export and import insurance 'Uzbekinvest', which share in total investment was 45.4 per cent (50.8 per cent).
The top ten companies in terms of volumes of investment also include 'Uzaugrosugurta' (7.1 per cent), 'Kafolat' (4.7 per cent), 'Alfa Invest' (4.5 per cent), 'Transinsurance' (4.1 per cent), 'Alskom' (2.8 per cent), 'Railways of Sugurt' (2.5 per cent), 'Ingo Uzbekistan' (2.4 per cent), 'Asia insuransе' (2.2 per cent) and 'Transinsurance plus' (1.9 per cent).
Level of concentration of top ten insurance companies in total investment in 2011 amounted to 77.6 per cent compared to 79.4 per cent in 2010.
At present 37 insurance companies are operating in the country. As many as 2 of them operate in life insurance, one is reinsurance company and 34 insurance companies operate in common insurance.
Besides these companies there are 3 insurance brokers in the insurance market, 2 actuarial organizations, 4 companies, rendering services of insurance assistance and 4 adjusting and survey organizations.
Trend reported earlier the Uzbek insurance companies increased premiums by 36.6 per cent in 2011 to hit 231.6 billion soums in 2011, the total volume of insurance payments on all types of insurance increased by 67 per cent to hit 45.1 billion soums.
The official exchange rate is 1,816 soums to $1 on Jan.26.