Under a presidential decree, the National Reinsurance Company — Oʻzbekiston qayta sugʻurta kompaniyasi (Uzbekistan Reinsurance Company) — will be established, the Ministry of Justice of Uzbekistan reported.

The decree outlines key objectives for enhancing the countryʼs reinsurance system in 2025. These include increasing the volume of the national reinsurance market to 4 trillion UZS, raising reinsurance service exports by at least 30 percent, expanding international cooperation, and attracting up to 150 billion UZS investments into the sector.

The newly established companyʼs main areas of activity have also been defined. In accordance with insurance legislation, it will be authorized to carry out all types of reinsurance operations.

In addition, the company will provide comprehensive reinsurance coverage for risks associated with direct and portfolio investments made by both foreign and domestic investors in Uzbekistanʼs economy, as well as for investment project-related risks.

Reinsurance is when an insurance company reduces its exposure to significant risks or financial losses by transferring part of its liability to another insurance company, known as a reinsurer.