Author: MOS_ADMIN

DWIC 2025: Oybek Khalilov Highlights Central Asia’s Reinsurance Potential and the Strategic Role of DIFC

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At the Dubai World Insurance Congress (DWIC) 2025, held under the theme Geo Spotlight: Central Asia, Mr. Oybek Khalilov, CEO of Mosaic Insurance Group participated in a high-level panel discussion exploring the evolving reinsurance landscape in Central Asia and the opportunities presented by international financial centers such as Dubai’s DIFC.

During the session, Mr. Khalilov emphasized the need for stability, clarity, and global connectivity when assessing the suitability of a reinsurance hub. He noted:

What we look for in a reinsurance hub is predictability, regulatory clarity, a transparent tax environment, access to qualified professionals, and most importantly – a clear gateway to global markets.

In this context, the Dubai International Financial Centre (DIFC) stands out not only as a convenient jurisdiction but as a world-class platform offering a comprehensive legal and regulatory environment. Backed by English common law and regulated by the Dubai Financial Services Authority (DFSA), DIFC aligns with international best practices, including IAIS principles, Solvency II, and IFRS standards.

In addition to legal and regulatory advantages, Mr. Khalilov pointed to DIFC’s tax efficiency and its unique ecosystem of reinsurers, brokers, actuaries, and auditors – all of which are critical for insurers like Mosaic operating in emerging markets.

For us, opening in DIFC is not an exit – it’s a step forward. It enables us to access knowledge, capital, and global best practices, which we aim to bring back and apply to our work in Uzbekistan.

Current Gaps and Regional Challenges

Addressing the state of reinsurance infrastructure in Central Asia, Mr. Khalilov drew attention to key challenge – absence of catastrophe modelling and regional risk pooling:
Despite the region’s high exposure to natural hazards such as earthquakes and floods, there are currently no standardized tools or mechanisms in place to assess and transfer these risks effectively.

    Without these foundational elements, the region remains vulnerable — relying on emergency funding rather than proactive risk financing.

    Opportunities and the Path Forward

    While acknowledging the slow but steady progress in regulatory reform and product innovation, Mr. Khalilov stressed the importance of continued efforts in areas such as:

    • Talent development and IFRS 17 implementation
    • Digital transformation and technological adoption
    • Product diversification, including cyber and parametric insurance

    Uzbekistan is moving forward, but real progress will take time and coordinated efforts across public and private sectors.

    Mosaic Insurance Group’s participation in DWIC 2025 reaffirms its commitment to aligning with global insurance standards while contributing to the sustainable development of Uzbekistan’s insurance sector. As regional integration deepens and international partnerships grow, platforms like DIFC are proving instrumental in enabling innovation, resilience, and long-term market maturity across Central Asia.

    DWIC 2025 | Geo Spotlight: Central Asia Panel

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    Mosaic Insurance Group is pleased to share that our CEO, Oybek Nosirovich Khalilov , will be a featured panelist at the Dubai World Insurance Congress (DWIC) 2025, joining industry leaders for a high-level discussion on “Regional Outlook and Opportunities in Central Asia.”
    📅 April 30 | 10:00–10:45 AM
    📍 Main Stage – Spice Ballroom

    This panel will explore key developments in Uzbekistan’s reinsurance and insurance markets, including:
    Regulatory evolution and investment potential
    Capacity pooling and regional cooperation
    The urgent need for localized CAT modelling and risk mitigation strategies

    With Central Asia rapidly emerging as a strategic growth hub, this session highlights the role of international partnerships in building financial resilience and sustainable risk frameworks.
    We are proud to represent Uzbekistan’s insurance sector on this global stage.

    DWIC Day 1

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    We’re only halfway through Day 1 here at the Dubai World Insurance Congress, and it’s already been an incredibly productive morning!

    Our team at Mosaic Insurance Group has been actively engaging with partners from across the globe — sharing ideas, exploring opportunities, and building the foundations for future collaborations.

    The energy, innovation, and ambition here are inspiring, and we are excited for what the rest of the day will bring.

    If you’re at DWIC, let’s connect over the next sessions – we’re just getting started!

    Strengthening Market Transparency through Global Insights

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    Today, the Board of Directors of the Association of Insurers of Uzbekistan had the honor of meeting with Mr. Lef Dorf, Assistant Vice-President / Analyst at Moody’s Ratings, in a session hosted by the Chairman of the Association and CEO of Mosaic Insurance Group, Mr. Oybek Khalilov.

    This insightful exchange provided a deep dive into Moody’s methodology for assessing and rating insurance companies, shedding light on key criteria and expectations from a global perspective. Mr. Dorf’s presentation emphasized the importance of governance, capital adequacy, risk management, and market positioning in determining creditworthiness and long-term stability.

    As the insurance industry in Uzbekistan continues to evolve, dialogues like these are critical to aligning with international standards and fostering greater investor confidence.

    We extend our sincere gratitude to Mr. Dorf and Moody’s Ratings for their openness and to all board members who actively contributed to this productive meeting.

    The countdown is on!

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    Mosaic Insurance Group is excited to be part of the Dubai World Insurance Congress (DWIC) 2025, taking place from April 28–30 at the iconic Atlantis, The Palm.
    With just a few weeks to go, we’re looking forward to engaging discussions and strategic networking with global insurance and reinsurance leaders.
    Meet our great team on the ground –
    Oybek Nosirovich Khalilov, CEO Mosaic Insurance Group
    Miraziz Khidoyatov, Deputy General Director
    Asal Temirkhodjaeva, Commercial and Consumer Lines Director
    Sherzod Djabbergenov, Commercial Lines Manager

    Let’s connect and explore new opportunities to collaborate and create value together.
    Reach out to schedule a meeting. See you in Dubai!

    Strengthening Regional Ties in Reinsurance & Health Insurance

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    Yesterday, April 16, Mosaic Insurance Group (MIG) had the pleasure of hosting Mr. Ian Lim, Founder & Group CEO of Lexasure Financial Group, for a meeting with Mosaic Insurance Group CEO Mr. Oybek Nosirovich Khalilov.
    Lexasure Financial Group is a leading reinsurance and digital insurance solutions provider in Southeast and South Asia, empowering over 60 primary insurers across 22 countries. Their innovative approach to Reinsurance-as-a-Service (RaaS) and strong focus on digital transformation are reshaping how companies manage risk and achieve sustainable growth.
    During the meeting, both parties explored future partnership opportunities—particularly in the areas of reinsurance and health insurance lines—to support the evolving needs of businesses and communities in the Central Asian region.
    We look forward to a dynamic collaboration built on shared values of resilience, innovation, and bold growth.

    Corporate Governance, Compliance & Internal Audit in Focus

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    At the recent KPMG conference on “Corporate Governance: Key Issues in Compliance and Internal Audit”, Oybek Nosirovich Khalilov , President of AmCham Uzbekistan and CEO of Mosaic Insurance Group, delivered the opening address.
    In his remarks, he emphasized the crucial role of the Board of Directors in establishing and maintaining effective risk management and internal control systems, as well as the importance of engaging all three lines of defense—from operational management to internal audit.
    The event brought together members of AmCham Uzbekistan and leading regional experts in compliance, corporate governance, and financial oversight, including:
    • Olzhas Omarov – Director of Corporate Governance and Sustainability, KPMG CCA
    • Begzod Salimov – Deputy Director of the Financial Monitoring Department, Central Bank of Uzbekistan
    • Dauren Akshalov – Advisor to the Minister of Energy of Kazakhstan, Chairman of the Association for Compliance and Business Ethics
    • Ravshan Kadirov – First Deputy Chairman of the Management Board, InfinBank
    • Alina Akchurina – Group Compliance Director, VEON, Beeline Uzbekistan
    • Asemgul Kangereyeva – Director of Sanctions Compliance, ITS Ltd. Group.
    Events like these are vital platforms for strengthening dialogue between the business community, regulators, and international partners — helping to shape a more transparent, resilient, and ethical corporate environment across Uzbekistan and the region.

    #AmChamUzbekistan #MosaicInsuranceGroup #KPMG #CorporateGovernance #Compliance #RiskManagement #InternalAudit #BusinessEthics #Uzbekistan

    Strengthening Uzbekistan’s Investment Climate

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    Mosaic Insurance Group, represented by CEO Mr. Oybek Khalilov, participated in an important meeting between AmCham Uzbekistan and the Foreign Investors Council under the President of the Republic of Uzbekistan. During the discussion with Mr. Aziz T. Gafurov, Head of the Secretariat, we explored opportunities for collaboration to enhance the business environment for current and potential investors.

    As a key player in Uzbekistan’s insurance sector, Mosaic Insurance Group remains committed to fostering a transparent, predictable, and investor-friendly market. AmCham Uzbekistan will be sharing key insights on investment challenges, along with policy recommendations developed by its working committees to support meaningful reforms.

    We appreciate this opportunity to contribute to shaping a stronger investment climate in Uzbekistan and look forward to continued cooperation with the Foreign Investors Council.

    Happy International Women’s Day!

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    Today, we celebrate the strength, resilience, and achievements of women everywhere. At Mosaic Insurance Group, we honor the incredible women who inspire, lead, and shape a better future every day.
    Your dedication and hard work make a difference — today and always. Wishing you happiness, success, and endless opportunities!

    Strengthening Uzbekistan’s Insurance Sector: A Strategic Meeting with The World Bank

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    We are pleased to share insights from a significant meeting between Danita Pattemore, Senior Financial Sector Specialist at The World Bank, and Oybek Nosirovich Khalilov , Chairman of the Board of the Association of Professional Participants of the Insurance Market of Uzbekistan and CEO of Mosaic Insurance Group.

    The discussion centered on enhancing Uzbekistan’s insurance market, aligning with international best practices, and fostering a more resilient financial ecosystem. As the industry evolves, collaboration with global institutions like The World Bank plays a vital role in driving regulatory improvements, risk management strategies, and sustainable market development.

    Mosaic Insurance Group remains committed to contributing to the growth and modernization of Uzbekistan’s insurance sector, ensuring a stronger, more transparent, and investor-friendly market.