Tashkent, Uzbekistan (UzDaily.uz) — Total insurance liabilities among market participants in Uzbekistan rose by 48.2% in the first half of 2026 to 4.415 trillion soums, driven primarily by the life insurance sector, where liabilities increased nearly 35-fold from 13.3 billion to 460.5 billion soums, according to the National Agency of Perspective Projects (NAPP).
By comparison, liabilities in the general insurance sector rose by 33.4% over the same period to 3.955 trillion soums, a rate significantly below the growth recorded in life insurance.
Almost all of the increase in life insurance liabilities was attributable to one company, JSC Apex Life Insurance. Its liabilities rose from 9.6 billion to 455.0 billion soums, accounting for approximately 99.6% of the sector’s total increase. At the end of the first half of the year, the company held around 98.8% of total liabilities in the segment.
The combined liabilities of the other six operating life insurance companies increased from 3.7 billion to 5.6 billion soums over the same period, or approximately 48%. This was close to the overall market growth rate but incomparable in scale with the performance of Apex Life Insurance.
At the same time, individual companies recorded divergent trends. Liabilities at JSC Kafolat Hayot Insurance declined by 53.6% to 145.7 million soums, while those of JSC EISK O'zbekinvest Hayot Sug'urta Kompaniyasi fell by 31.9% to 106.0 million soums. Liabilities at JSC Alfa Life Insurance decreased by 20.3% to 2.17 billion soums.
Meanwhile, several companies posted increases from a low base. Liabilities at JSC TBC Sug'urta rose by 229.3% to 1.79 billion soums, while those of JSC Agros Hayot increased more than 50-fold to 169.5 million soums. A new participant in the life insurance market, JSC Prestige Insurance, had accumulated liabilities of 1.18 billion soums by the end of the first half of the year.
Thus, the multiple-fold increase in life insurance liabilities across the market is almost entirely explained by the figures reported by one company, while the performance of the segment’s other participants remains broadly comparable with the overall market trend.
