Branches of foreign insurance companies are not allowed.
"Article 4. Insurance Activities of Non-residents in the Territory of the Republic of Uzbekistan
Non-residents of the Republic of Uzbekistan may act as founders (participants) of legal entities — professional participants of the insurance market in the territory of the Republic of Uzbekistan.
Insurance of the property interests of a legal entity located in the territory of the Republic of Uzbekistan, which is a resident of the Republic of Uzbekistan, shall be carried out only by an insurance company — resident of the Republic of Uzbekistan, except for the cases provided for by the legislation.
[...]
Chapter 5. State Registration, Licensing of Activities, Reorganization and Liquidation of Professional Participants of the Insurance Market
Article 39. Establishment and State Registration of Professional Participants of the Insurance Market
Insurers (reinsurers) shall be established in the form of a joint-stock company.
Other professional participants of the insurance market, who are legal entities, shall be established in the forms of incorporation provided for by legislative acts.[...]" (Law of the Republic of Uzbekistan, от 23.11.2021 г. № LRU-730 ON INSURANCE ACTIVITIES, in force as of 25.02.2022)
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Previously: up tp 2022
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"Article 27. Activities of foreign insurance organizations
Foreign insurance organizations may act as founders (participants) of legal entities - professional participants of the insurance market in the manner prescribed by law.
The implementation of insurance by foreign insurance organizations in the Republic of Uzbekistan is not allowed. [...]" (LAW OF THE REPUBLIC OF UZBEKISTAN ON INSURANCE ACTIVITY No. 358-II of 05/04/2002)
Law of the Republic of Uzbekistan, оf 23.11.2021 г. № LRU-730 ON INSURANCE ACTIVITIES [in force as of 25.02.2022]
LAW OF THE REPUBLIC OF UZBEKISTAN ON INSURANCE ACTIVITY No. 358-II of 05/04/2002 [repealed by LRU-730 of 23.11.2021 on Insurance Activities]

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