Finance

Uzbekinvest retains top (uz)AAA rating from SNS Ratings with stable outlook

Published
Daria Sannikova
Daria Sannikova
Commercial Editor
PR Uzbekinvest Uzbekistan
SNS Ratings announced that it had affirmed Uzbekinvest’s (uz)AAA rating (the highest solvency and reliability rating on the agency’s national scale), with a stable outlook.
Uzbekinvest
Photo: Uzbekinvest

SNS Ratings assesses the financial stability of companies and debt instruments across a range of economic sectors.

The (uz)AAA rating reflects the agency’s assessment of a company’s ability to meet its obligations, including policyholder claims, in full and on time.

The agency cited several factors supporting its decision:

  • Strong institutional support;
  • High capitalisation and business scale;
  • A high level of transparency;
  • A lower underwriting loss ratio.

SNS Ratings expects Uzbekinvest to maintain strong liquidity and capitalisation. It also forecasts continued organic growth in premium income, primarily in the corporate segment, and sees scope for a further improvement in the company’s net operating margin.

Key Financial Performance Indicators

Over the past five years, Uzbekinvest has recorded growth across its key financial and operating indicators:

  • Gross written premiums increased 4.2 times, from UZS 385 billion to UZS 1.6 trillion.
  • Premium income from international insurance markets (service exports) rose 4.3 times, from $15 million to $65 million.
  • The number of partner countries increased from 65 to 135.
  • Insurance coverage provided to Uzbek exporters grew 1.9 times, from $1.8 billion to $3.3 billion.
  • Premium income from insurance for investment projects increased 2.5 times, from UZS 32 billion to UZS 80 billion.
  • Total assets increased 2.2 times, from UZS 1.1 trillion to UZS 2.5 trillion.
  • The investment portfolio grew 1.5 times, from UZS 967 billion to UZS 1.5 trillion.
  • Net profit increased more than elevenfold, from UZS 5 billion to UZS 55 billion.
  • The client base expanded from 755,000 to 1.2 million individuals and businesses.

International Ratings

In May 2026, AM Best affirmed Uzbekinvest’s B rating (Financial Strength Rating) and bb rating (Long-Term Issuer Credit Rating), both with a stable outlook.

In July 2026, Moody’s Ratings upgraded Uzbekinvest’s rating to Ba1 (Insurance Financial Strength Rating), with a stable outlook, placing the company among the highest-rated financial institutions in Uzbekistan.

Uzbekinvest continues to pursue its strategy of sustainable growth, expand international cooperation and develop its digital capabilities in the domestic and international insurance and reinsurance markets.

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