Kamoliddin Tolipov has been appointed director of the Insurance Market Development Agency under the Finance Ministry of Uzbekistan, the ministerial press service said. 

Previously, Tolipov worked as head of the Silk Capital investment company. 

The main tasks of the agency include:

- ensuring openness and transparency of the insurance market and activities of its professional participants, including through the systematic publication of statistical and financial indicators in the field;

- ensuring protection of the rights of consumers of insurance services and other participants in insurance relations, helping to increase public confidence in the insurance market and development of an insurance culture in society;

- assistance in organizing the training, retraining and advanced training of specialists in the insurance market, including abroad, as well as with involvement of experts and specialists of international level;

- establishment of mandatory standards and requirements for the solvency of insurers, formation and use of insurance reserves, as well as development of recommendations for organizing effective insurance activities;

- monitoring compliance with legislation in the field of insurance activities by professional participants in the insurance market, as well as established standards and requirements to ensure their financial stability;

- licensing activities of insurers (reinsurers) and insurance brokers;

- formation and maintenance of an integrated information system for accounting and reporting, remote monitoring of the state of insurance market and the activities of its professional participants;

- assistance in development of traditionally demanded and introduction of new types of insurance services aimed at meeting the growing needs of the population and business entities, strengthening insurance coverage in the field of agricultural activity;

- organization of cooperation with similar structures of foreign countries, international financial institutions and other relevant bodies engaged in insurance activities.