Leader Insurance, which is one of the most active private insurance companies in Tajikistan, is being liquidated voluntarily, according to the National bank of Tajikistan (NBT) press center.
Tajik central bank has reportedly granted the request of Leader Insurance for voluntary liquidation and issued the relevant resolution on this subject on February 13.
Leader Insurance Ltd was established on May 18, 2004 as Closed Joint-Stock Company (CJSC) Orien Insurance.
In 2015, the company was renamed Leader Insurance. It was put on the NBT list as Open Joint-Stock Company (OJSC) Leader Insurance with an authorize capital of 500,000 somoni.
The only shareholder of this company is Mr. Yoqubjon Rahmatullo owning 100 percent of the shares in Leader Insurance.
After liquidation of Leader Insurance, eighteen insurance companies, including two state-run companies – State Unitary Enterprise (SUE) Tojiksughurta and State Insurance Company Tojiksarmoyaguzor – remained in the Tajik insurance industry.
The largest of them in terms of authorized capital are OJSC Spitamen Sughurta (87.7 million somoni), State Insurance Company Tojiksarmoyaguzor (15.6 million somoni), SUE Tojiksughurta (5.2 million somoni) and OJSC Muin (2.4 million somoni).
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.
