REINSURANCE SYSTEM IN UZBEKISTAN AND ITS DEVELOPMENT PROSPECTS

Reinsurance plays a fundamental role in ensuring the financial stability and risk management capacity of insurance companies by allowing them to transfer portions of their risk portfolios to other insurers. In Uzbekistan, the reinsurance system is developing alongside the broader insurance market, which is experiencing steady growth due to economic reforms and increased investment activity. Despite existing legal provisions for reinsurance transactions, domestic capacity remains limited, and significant portions of risk are ceded to foreign reinsurers. This study examines the structure of Uzbekistan’s reinsurance system, analyzes its strengths and weaknesses, and explores opportunities for modernization and development. The research employs legal analysis, comparative study of international practices, and evaluation of market data. Findings suggest that strengthening domestic reinsurance capacity, adopting risk-based supervision, enhancing digital risk modeling tools, and fostering public-private partnerships are essential for sustainable growth. The study concludes that modernization of the reinsurance framework will contribute to financial stability, capital retention, and the long-term development of Uzbekistan’s insurance sector.再保险（Reinsurance）通过允许保险公司将自身风险组合的部分份额转移给其他承保机构，对保障保险公司的财务稳定性与风险管理能力发挥着基础性作用。在乌兹别克斯坦，再保险体系与整体保险市场协同发展；得益于经济改革与投资活动增加，当地保险市场正呈现稳步增长态势。尽管针对再保险交易已有相关法律规定，但国内承保能力仍较为有限，大量风险份额被分出至境外再保险公司。本研究对乌兹别克斯坦再保险体系的结构展开考察，剖析其优势与不足，并探索其现代化与发展的可行路径。本研究采用法律分析、国际实践比较研究以及市场数据评估等研究方法。研究结果显示，强化国内再保险承保能力、推行风险导向监管、升级数字化风险建模工具以及推动公私合作伙伴关系建设，是实现可持续增长的必要举措。本研究最终得出结论：再保险框架的现代化将有助于保障财务稳定性、留存资本，并推动乌兹别克斯坦保险行业的长期发展。