GROSS brand valued at 37 million US dollars

GROSS Insurance Company has been awarded the international Brand Awards International prize for its achievements in the field of customer-oriented insurance solutions, high service standards and sustainable development of the insurance services market in Uzbekistan. The prize was organised by the Competition Promotion and Consumer Committee of the Republic of Uzbekistan and the Marketing Association of Uzbekistan.
The value of the GROSS brand was 37 million US dollars. The valuation was carried out in accordance with international standards by independent consultants Gafurov Kardash and Partners. This is the first time that the indicative value of brands in Uzbekistan has been determined.
"For us, a brand is the trust of our customers, fulfilling our commitments and being there when needed. The Brand Awards International award has become an important confirmation that our approach to business works. This award is an incentive to develop, invest in technology, improve customer service and offer insurance solutions that meet the highest expectations," said Otabek Nazarov, Chairman of the Board of GROSS.
GROSS is one of the top three insurance companies in the country in terms of premiums, and its growth is above the market average. According to the report of the National Agency for Prospective Projects of the Republic of Uzbekistan (NAPP), the company's insurance premium income increased by 35.4% in 2024 compared to 2023, while the market as a whole recorded a decrease of 1.9%. The reinsurance indicator is also significantly higher than average: the volume of premiums accepted for reinsurance amounted to 150.9% of the 2023 level (the average growth in the market is 30%). The company remains the leader in the number of insurance claims paid: according to NAPP, every fourth insurance claim in Uzbekistan is settled by GROSS.
Every year since 2022, GROSS has received the highest national solvency rating from Ahbor-Reyting - uzA++ with a stable outlook. The international agency Fitch Ratings gives the company a rating of B+ with a stable outlook. In its reports, Fitch emphasises GROSS' favourable business profile, strong competitive positions and high degree of diversification.
In 2024, GROSS also won the international Gazet International Awards in the Best Customer Service in Insurance Uzbekistan category, confirming the company's leadership in customer service.
GROSS has begun to transform its marketing strategy, focusing on the values of socially responsible business. The company is consistently implementing the ESG approach in its communications and operational activities, creating a brand image that focuses not only on economic, but also on social and environmental priorities. A number of major initiatives have already been implemented to improve road safety, develop sports and preserve cultural heritage. GROSS intends to continue this work with the same activity and commitment.
Today, GROSS offers insurance products in 17 areas and applies multi-format models of interaction with all categories - individuals, companies, government agencies and non-profit organisations. The company operates in two main segments:
Insurance: a wide range of solutions for individuals and legal entities.
Reinsurance: partnerships with companies in 79 countries.
GROSS offers policy enrolment through all channels, 24/7 policyholder support, travel insurance service in 160 countries, and also has its own medical group and emergency commissioner service. More than 300 clinics and 500 pharmacies across the country are GROSS partners in voluntary health insurance.
In 2024, the Brand Awards International transformed into a full-fledged global platform for recognizing business excellence. It now offers participants not only a way to showcase their achievements but also an opportunity to assess brand value based on objective criteria. GROSS’s inclusion among the award leaders highlights its sustainability, transparency, and strategic focus on customer value.