Boston, MA -- (SBWIRE) -- 05/27/2013 -- The Tajik economy maintained a steady rate of growth after witnessing a deceleration in 2009 on account of the global financial crisis. Real GDP registered growth of 7.4% and 7.5% in 2011 and 2012 respectively, and is expected to expand by 7.0% in 2013 according to the International Monetary Fund (IMF). Led by stable economic growth, the Tajik insurance industry registered an impressive CAGR of 18.4% during the review period (2008-2012). However, the insurance industry remains small and under developed with a penetration rate (as a percentage of GDP) of 0.34% in 2012.

Key Highlights

- According to the Ministry of Finance, there were 16 insurance companies operating in the Tajik insurance industry at the end of 2011.
- Factors such as the country's accession to the World Trade Organization (WTO) in March 2013, improvements in private sector investment, and new product developments (such as crop insurance) are expected to boost the growth of the insurance industry over the forecast period (2012-2017).
- The Tajik insurance industry regulatory framework is incompatible with the ongoing changes and developments in the global insurance industry and needs to be incorporated with modern core principles.
- The elevated level of poverty will continue to act as a major challenge, affecting the performance of the insurance industry over the forecast period.
- Agricultural insurance is already compulsory in Tajikistan and the development of index-based crop insurance products will support the growth of the insurance industry over the forecast period.

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Scope

This report provides a comprehensive analysis of the insurance industry in Tajikistan:

- It provides historical values for the Tajikistan insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Tajikistan insurance industry, along with industry forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Tajikistan and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related to the Tajikistan insurance industry and each segment within it
- Assess the competitive dynamics in the Tajikistan insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Tajikistan insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Tajikistan insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Tajik State Insurance Company, Tojiksugur, State Investment Insurance Company, Tojiksarmoiaguzor, Trud Insurance Company Ltd,

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