DEVELOPMENT TRENDS AND FUTURE PROSPECTS OF THE INSURANCE MARKET IN UZBEKISTAN

The insurance market plays a crucial role in ensuring financial stability, protecting economic entities from risks, and stimulating sustainable economic growth. In recent years, Uzbekistan has implemented large-scale reforms aimed at modernizing the insurance sector, strengthening regulatory mechanisms, and expanding the range of insurance services. This study examines the current development trends of the insurance market in Uzbekistan, analyzes key performance indicators, identifies existing challenges, and evaluates future prospects. The research applies statistical, comparative, and analytical methods to assess market dynamics. The findings indicate that digitalization, regulatory improvements, diversification of insurance products, and increased public awareness are the main drivers of growth. The paper proposes practical recommendations to enhance competitiveness and efficiency within the national insurance system.