Locations
A delegation of specialists and employees from the National Agency for Prospective Projects of the Republic of Uzbekistan (NAPP), with the support of the United Nations Development Programme (UNDP), undertook a study tour to Switzerland. During the visit, productive meetings were held with representatives of the International Association of Insurance Supervisors (IAIS), as well as Swiss Re and Europe Re - leading global providers of reinsurance, insurance, and risk management services.
The International Association of Insurance Supervisors (IAIS) comprises over 200 members worldwide, representing more than 97% of global insurance premiums. Uzbekistan’s prospective membership in this organization marks a strategically significant step toward the development of the national insurance market, enhancing transparency, competitiveness, and regulatory oversight. It also facilitates the adoption of international best practices, fosters digital transformation (InsurTech), provides access to advanced analytics and knowledge sharing, and strengthens Uzbekistan’s international presence in the insurance sector.
The discussions focused on the following priority areas:
- The IAIS Strategic Plan for 2025–2029 and the Roadmap for 2025–2026;
- Prospects for Uzbekistan’s membership in IAIS and its impact on the national insurance market;
- Development of the NAPP in alignment with international insurance standards;
- The structure and operations of IAIS, as well as the benefits of membership for Uzbekistan’s insurance sector;
- International best practices in managing climate risks and financing mechanisms;
- Opportunities for cooperation with Swiss Re and Europe Re in agricultural insurance, risk management, and the development of Uzbekistan’s reinsurance market.
Deputy Director of NAPP, Orifjon Fayziev, emphasized the importance of deepening international cooperation in the insurance sector, stating:
"We highly value the opportunity to further strengthen our collaboration and enhance regulatory practices. NAPP remains committed to engaging with IAIS and its broad membership, contributing to the development of effective insurance regulation and fostering sustainable growth in the sector."
UNDP Support
The international study tour was organized as part of the UNDP global project “Insurance and Risk Finance Facility in Uzbekistan,” funded by the Government of Germany. The project aims to facilitate the development of Uzbekistan’s insurance market, integrate insurance policy into the country’s economic development program, expand inclusive insurance solutions, strengthen sovereign risk financing and disaster risk management, attract investment into Uzbekistan’s insurance industry. This collaboration paves the way for Uzbekistan to implement cutting-edge insurance solutions, enhancing the country’s economic resilience against external risks.
