RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 23, 2025 No. PP-191

About measures for further enhancement of system of reinsurance in the country

For the purpose of further increase in amount of the national market of reinsurance, the balanced distribution of risks, I decide strengthenings of protection of the rights of insurers and further enhancement of system of reinsurance:

I. Purposes

1. Determine main objectives of further enhancement of system of reinsurance for 2025:

(a) bringing amount of the national market of reinsurance to 4 trillion sum;

(b) increase in export of services of reinsurance at least for 30 percent;

(c) expansion of international cooperation and increase in the volume of investment, attracted to the sphere of reinsurance, to 150,0 of one billion sum.

II. Creation of the National reinsurance company

2. Agree with the offer of the National agency of perspective projects (further - the Agency), the Ministry of Economics and finance about creation of the national reinsurance organization of "O" of zbekiston qayta sug of "urta kompaniyasi" (further - the Company) and determination by the main directions it activities:

(a) implementation of all types of reinsurance according to the legislation on insurance activity;

(b) ensuring complex reinsurance protection of direct and portfolio investments, risks in case of implementation of investment projects of foreign and local investors in republic economy;

(c) implementation of cooperation concerning reinsurance and carrying out reinsurance transactions with the insurance and reinsurance companies of foreign countries.

3. Determine that:

(a) The company is created in the form of joint-stock company and performs reinsurance activities according to the procedure, established by acts of the legislation;

(b) the authorized capital of the Company is created in the amount of at least 300 billion sum, from them fifty percent are constituted by the state share, fifty percent - share of private investors;

(c) The agency performs function of the shareholder on the state share in the Company.

4. Determine that:

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