New charter capital requirements for insurance companies enters into force

President of Uzbekistan signed a resolution in 2011, which envisages increasing minimum size of charter capital for insurance companies by 2015.

From 1 July 2014, the minimum size for insurance companies, operating in general industry, set at the size of 1.5 million euros (earlier – 1.125 million euros).

The minimum size for insurance companies, working in life insurance, set at the size of 2 million euros (earlier - 1.5 million euros) and for companies, operating in mandatory insurance market, - 3 million euros (2.25 million euros), and for reinsurance companies – 6 million euros (5 million euros).