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Member, Beacon International Group, Ltd.
Uzbekistan recently introduced new requirements for the minimum authorized capital for insurers as part of measures to improve their financial stability, reports Forinsurer.
The minimum authorized capital for general insurance operations is €1.5 million ($2 million) and for compulsory insurance operations is €3 million ($4 million).
The minimum capital required for only reinsurance is €6 million ($8 million).
As of July 1, 30 insurers comply with the revised requirements, Forinsurer reports.