{"id":12060,"date":"2025-10-31T14:16:27","date_gmt":"2025-10-31T09:16:27","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/uzbekistan-is-creating-a-national-reinsurance-company-with-a-capital-of-300-billion-soums\/"},"modified":"2025-10-31T14:16:27","modified_gmt":"2025-10-31T09:16:27","slug":"uzbekistan-is-creating-a-national-reinsurance-company-with-a-capital-of-300-billion-soums","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-creating-a-national-reinsurance-company-with-a-capital-of-300-billion-soums\/","title":{"rendered":"Uzbekistan is creating a national reinsurance company with a capital of 300 billion soums"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>The reinsurance company will reduce the dependence of Uzbek insurers on foreign reinsurers (Swiss Re, Munich Re), who take 70-80% of premiums. This will keep money in the country, reduce the cost of insurance for businesses. Protecting investments through reinsurance will attract risk-taking foreign investors. Partnership with world leaders will transfer technology and expertise.   <\/p>\n<p><strong>What happened<\/strong><\/p>\n<ul>\n<li>The Cabinet of Ministers approved the establishment of the National Reinsurance Company of Uzbekistan;<\/li>\n<li>Authorized capital \u2014 300 billion soums ($24.9 million);<\/li>\n<li>NAPP owns 50%, private investors (international reinsurers) &#8211; 50%;<\/li>\n<li>The company will protect investments, insure project risks, and open accounts abroad;<\/li>\n<li>The NAPP contributes 5% of the capital per month, the rest \u2014 per year in equal shares;<\/li>\n<li>Dividends until 2031 are directed to the NAPP.<\/li>\n<\/ul>\n<p><strong>Company powers<\/strong><\/p>\n<ul>\n<li>Open accounts in foreign banks, make payments;<\/li>\n<li>To carry out insurance payments and operations related to insurance and investments;<\/li>\n<li>Purchase equipment, machinery, communication devices, and software by selecting the best offers (without online auctions).<\/li>\n<\/ul>\n<p><strong>Company tasks<\/strong><\/p>\n<ul>\n<li>Reinsurance protection of direct and portfolio investments;<\/li>\n<li>Insurance of risks during the implementation of projects by foreign and local investors;<\/li>\n<li>International cooperation in the field of reinsurance.<\/li>\n<\/ul>\n<p><strong>Context<\/strong><\/p>\n<p><strong>What is reinsurance:<\/strong> it&#8217;s insurance for insurance companies. When an insurer assumes large risks (for example, insuring a factory for $100 million), it transfers a portion of the risk to the reinsurer to avoid bankruptcy. <\/p>\n<p><strong>Problem:<\/strong> Uzbek insurers transfer 70-80% of premiums to foreign reinsurers (Swiss Re, Munich Re, Hannover Re), as they do not have their own reinsurance company. This drives money out of the country and increases insurance costs. <\/p>\n<p><strong>The solution:<\/strong> the creation of a national reinsurance company will keep money in the country, reduce the cost of insurance for businesses, and transfer risks to state control.<\/p>\n<p><strong>International partners:<\/strong> attracting world leaders (Swiss Re, Munich Re?) will transfer technologies, expertise, and international standards. This is crucial, as reinsurance requires complex risk analysis, actuarial calculations, and reserve management. <\/p>\n<p><strong>Investment protection: <\/strong>The National Reinsurance Company of Uzbekistan will insure the risks of large projects (infrastructure, energy, industry), which will attract foreign investors who fear expropriation, political risks, and force majeure.<\/p>\n<p><strong>Accounts Abroad: <\/strong>The right to open accounts in foreign banks will allow the NRCU to conduct international operations, receive premiums from foreign partners, and pay compensation to investors.<\/p>\n<p><strong>Procurement without bidding: <\/strong>the right to purchase equipment and software without online bidding will accelerate the launch of the company, but will create risks of corruption and price gouging.<\/p>\n<p><strong>NAPP dividends:<\/strong> until 2031, dividends on the state&#8217;s share (50%) are directed to NAPP for financing promising projects. This means that the NRCU will work for self-sufficiency, but the profit will go towards economic development. <\/p>\n<p><strong>Capital of 300 billion soums<\/strong> ($24.9 million): this is the minimum capital for starting work. For comparison: the world&#8217;s largest reinsurers have a capital of $10-50 billion. However, $25 million is a sufficient amount for the Uzbek market.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will protect investments, insure the risks of large projects, and open accounts abroad.<\/p>\n","protected":false},"author":4,"featured_media":12029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/11\/69059521b35df.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":12029,"YlB8HH34jIzY":"Uzbekistan is creating a national reinsurance company with a capital of 300 billion soums"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2118,2202,2201,2203],"class_list":["post-12060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-economics","tag-insurance","tag-napp-en","tag-reinsurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uzbekistan is creating a national reinsurance company with a capital of 300 billion soums &#8212; 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