Uzbekistan Partners with World Bank to Develop National Natural Disaster Insurance Strategy

Ulugbek Khasanov, Head of the Department at Uzbekistan’s National Agency of Perspective Projects, has said that Uzbekistan is collaborating with the World Bank to create a national strategy for natural disaster insurance, leveraging international best practices.

Khasanov made these remarks at the Insurtech-2025 summit for Turkic states, The Caspian Post reports via local media.

Khasanov highlighted the rapid growth of Uzbekistan’s insurance sector, noting that total premiums have surged to $500 million, a 146 per cent increase, while insurance payouts have reached $100 million, up 119 per cent. The number of active insurance contracts now stands at 12 million, and total investments in the sector have grown to $700 million, reflecting a 140 per cent rise.

The official emphasized the importance of developing reinsurance, stating, “In May, Uzbekistan established its first national reinsurance company, which will strengthen domestic financial capacity and reduce risks.”

Khasanov also said that the country is adopting digital solutions to improve transparency and efficiency in the insurance sector. In addition, Uzbekistan is implementing the risk-based “Solvency II” framework to enhance market resilience and ensure long-term stability.