Government Notices

Government press releases and notifications

Sale of Government Stake in KAFOLAT Insurance Company

The State Committee of the Republic of Uzbekistan for Privatization, De-monopolization and Development of Competition invites foreign investors to purchase a 15.5% stake in KAFOLAT Insurance Company ($3.32M).

kafolat sale privatisation

Acquisition of shares of one of the leading insurance companies in Uzbekistan will provide the investor with participation in the management of the company and yield profitable return on investments in one of the world’s fastest growing insurance markets. Over the past 5 years the rate of growth in the insurance market was 130% (the growth of KAFOLAT was 135%).

KAFOLAT Insurance Company was founded in 1997 and has become one of the largest insurers in Uzbekistan, with more than 600 shareholders of legal entities and individuals. Since formation KAFOLAT has quickly developed to become a universal insurer and one of the market leaders for the collection of insurance premiums in the country. The company now provides services including property, personal lines and small business insurance across many areas.

Uzbekistan is the most populated country in Central Asia (more than 31 million). The country’s population is quite young with an average age of 25 years. According to the World Economic Forum, Uzbekistan is among the five countries with the fastest growing economy in the world as of 2015. It is currently among the top ten countries in the world in achieving the best results in improving the business environment. The fast growth of banking, insurance, leasing, consulting and other kinds of market services contributes to the development of the private sector and small businesses in the country.

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The Embassy of Uzbekistan

41, Holland Park, London W11 3RP

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