This book aims to analyze the theoretical and practical aspects of ESG transformation in the insurance sector, including assessment of the role of environmental, social and corporate factors in risk management, increasing sustainability, and developing insurance companies. It intends to show the relationship between how the ESG principles implementation can help strengthen investor and consumer confidence, increase the financial institutions' sustainability, and improve the overall socio-economic climate in countries with transition economies.The book examines the specific dynamics of the insurance industry development in Uzbekistan, including legislative initiatives, market mechanisms, and government regulation that may affect the integration of ESG approaches into the practice of insurance organizations. Ultimately, it proposes practical solutions for the successful implementation of ESG transformation in the context of a transition economy.