This month, the National Bank of Tajikistan (NBT) has granted operating licenses to two new insurance companies – Mehrubon and Tajik-Chinese Insurance LLC.
According to Tajik central bank, Mehrubon Insurance Company received the operating license on January 23.
Tajik-Chinese Insurance LLC was reportedly granted the operating license on January 3. According to information posted on its website, Tajik – China insurance” LLC is engaged in voluntary insurance of legal entities of different forms of ownership and personal insurance. The founder of the company is Chinese Corporation “Huijin (Beijing) Investment Fund Management Co., Ltd.”
Reinsurance partners of Tajik-Chinese Insurance LLC reportedly include large international companies, such as: PICC Company Limited, Ping An Insurance Company, Huatai P&C Insurance, Sunshine Insurance Group Corporation Limited, SOGAZ Insurance Group, SKALA Reinsurance Brokers.
There are some twenty insurance companies, including two state-run companies – State Unitary Enterprise (SUE) Tojiksughurta and State Insurance Company Tojiksarmoyaguzor — now operating in the Tajik insurance industry.
Among the private insurance companies the most active are Leader Insurance, Muin, Trud, and Eskhata Sughurta
The Insurance sector in Tajikistan is supervised by the Ministry of Finance. The high level of poverty is a major challenge, affecting the performance of the insurance industry Tajikistan. The improvement in economic activities has consequently supported the growth of the insurance industry. Growth in the country’s insurance industry has been led by the non-life insurance segment, which has accounted for the largest share of total insurance written premiums.
