Tashkent: ‘Turkic states are strengthening cooperation in the insurance market,’ said Ulugbek Khasanov, a representative of the National Agency for Perspective Projects of the Republic of Uzbekistan, during his speech at the Turkic States InsurTech Summit, APA-Economics reports.

According to Azeri-Press News Agency, Khasanov emphasized that deepening cooperation among Turkic countries in insurance market development, digital transformation, and risk management is a top priority. He highlighted Uzbekistan’s initiative of establishing its first national reinsurance company, Uzbekistan Reinsurance Company, aimed at enhancing the stability of the insurance market, reducing external dependency, and strengthening national insurance capacity in the region.

Furthermore, Khasanov mentioned that the Uzbek government, in collaboration with the World Bank, is developing a national strategy for financing and insuring against natural disasters. He noted that sharing experiences and applying innovative solutions among Turkic states in this field will foster market integration and expand mutual investment opportunities.