SAIPRO: The Central Asian insurance market is less affected by the crisis
"The dynamics of the local insurance premiums in the five Central Asian countries is directly influenced by the development of the economy. In the last two years, the insurance business dropped on these five markets, but this decrease was less serious than in other regions of the world", Dilshod SULTANOV from SAIPRO, Uzbekistan stated at FIAR 2010.
In this context, the Central Asian region represents a real opportunity for growth of the insurance industry as the regional governments show a genuine interest in this sector of the financial industry: "These countries that gained their independence in 1991 are developing countries, with real potential. They started modernizing their market and the legislation is subject to constant improvement, in line with the development of the market", SULTANOV added.
