Kyrgyzstan
STATISTICS: KYRGYZSTAN, 1Q2022: the market expanded by about 44% y-o-y (in local currency)
According to the 1Q results, the insurance sector of Kyrgyzstan recorded an increase of about 44% y-o-y, reaching KGS 468.06 million (EUR 5.04 million), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic show.
8 June 2022KYRGYZSTSAN: 79% of insurers' income in 2021 came from premiums
In 2021, total income of 14 insurance companies that operated in Kyrgyzstan decreased by 8.7% y-o-y to KGS 1.6 billion (EUR 16.70 million). According to the National Statistical Committee of the Kyrgyz Republic, the bulk of income (79%) was received from premiums.
26 May 2022KYRGYZSTAN: minimum sums insured, limits of liability and rates approved for MTPL
The Cabinet of Ministers of the Kyrgyz Republic approved minimum amount of sums insured, limits of liability and insurance premium rates for MTPL, a source reports according to the press service of the Cabinet of Ministers.
28 March 2022KYRGYZSTAN: SARBANOV Ulan appointed Chairman of the State Service for regulation and supervision of the financial market
SARBANOV Ulan has been appointed Chairman of the State Service for regulation and supervision of the financial market under the Ministry of Economy and Commerce of the Kyrgyz Republic, the Service said in its statement.
16 February 2022STATISTICS: KYRGYZSTAN, FY2021: in local currency the market decreased by almost 5.5%, while in euro the result remained at the level of 2020
At the end of 2021, the insurance sector of Kyrgyzstan changed growth to decline (if compared to 3Q2021) and recorded a drop by 5.46% to KGS 1.26 billion (EUR 13.17 million).
7 February 2022KYRGYZSTAN: for 9M2021, 73% of all contracts concluded in voluntary insurance
In January-September 2021, the income of 14 insurance companies, working in the financial sector of the republic's economy, increased 1.3 times y-o-y to KGS 1.3 billion (EUR 13.14 million*). At the same time, the greatest part (81%) was received from insurance premiums, according to a review, published by the National Statistical Committee of the Kyrgyz Republic.
1 December 2021STATISTICS: KYRGYZSTAN, 3Q2021: insurers' business grew by almost 50% (in KGS)
The insurance sector of Kyrgyzstan at the end of 3Q2021 grew by almost 50% and reached KGS 987.04 million (EUR 9.98 million), according to the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
2 November 2021STATISTICS: KYRGYZSTAN, 1H2021: the market almost doubled the result of the first half of 2020 (in local currency)
The insurance market in Kyrgyzstan at the end of 1H2021 amounted to KGS 780.20 million (EUR 7.74 million), almost twice exceeding the result of the first half of 2020 in local currency (+92.44%), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic shows.
5 August 2021KYRGYZSTAN: insurance company KYRGYZSTAN celebrated its 30th anniversary
On July 5, the insurance company KYRGYZSTAN celebrated its 30th anniversary, the insurer said on its website.
15 July 2021STATISTICS: KYRGYZSTAN, 1Q2021: paid claims amounted to 13% of total GWP
The insurance market in Kyrgyzstan in the first three months of 2021 reached KGS 325.17 million (EUR 3.27 million), while insurers paid only KGS 42.27 million for insured events, thus the paid claims ratio amounted to 13%, as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic shows.
13 May 2021KYRGYZSTAN: The State Financial Supervision Service proposed to approve the insured amount and the liability limit for MTPL
The State Financial Supervision Service proposed to approve the insured amount and the limit of liability for MTPL - the draft regulation has been submitted for public discussion and published on the government's website, the financial publication Economist reported.
5 May 2021KYRGYZSTAN: Arzybek KOZHOSHEV appointed Chairman of the State Service of regulation and supervision of the financial market
Arzybek KOZHOSHEV was appointed Chairman of the State Service of regulation and supervision of the financial market under the Ministry of Economics and Finance of the Kyrgyz Republic, as announced on the website of the market regulator.
27 April 2021KYRGYZSTAN: insurers' income in 2020 increased by more than 6% y-o-y
In 2020, total income of insurance companies in Kyrgyzstan increased by 6.3% y-o-y and amounted to KGS 1.7 billion (~EUR 16.6 million*), as Economist.kg reports, citing the press service of the National Statistical Committee.
8 April 2021KYRGYZSTAN: insurance company KYRGYZSTAN received a diploma as the "Insurance company of the year -2020"
The State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic summed up the results of 2020, and awarded several financial market entities, as the regulator informed on its website.
24 February 2021STATISTICS: KYRGYZSTAN, FY2020: the insurance sector ended the year without losses - premiums almost remained at the level of 2019 (in local currency)
The insurance sector of Kyrgyzstan, after a decrease seen in the third quarter, ended 2020 without losses (in local currency) - GWP remained almost at the level of 2019 (+0.15% y-o-y), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
4 February 2021STATISTICS: KYRGYZSTAN, 3Q2020: market total GWP decreased by more than 10%, paid claims remained almost unchanged
As of the end of 3Q2020, the Kyrgyz insurance market amounted to KGS 658.58 million (~EUR 7.08 million*), having decreased by more than 10% y-o-y, according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.
3 December 2020KYRGYZSTAN: Incurrence of liability for failure to comply with MTPL law postponed
Taking into account the decrease in the level of income of the country's population, associated with the protracted situation of the pandemic, it was decided to postpone the incurrence of liability for non-compliance with the MTPL law, as Arzybek KOZHOSHEV, Chairman of the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic announced.
2 December 2020KYRGYZSTAN: Total income of insurance companies in the first half of the year dropped by almost 7% y-o-y
In 1H2020, total income of insurers in Kyrgyzstan amounted to KGS 593.5 million (~EUR 6.94 million*), which is 6.9% less y-o-y, according to the National Statistical Committee of the Kyrgyz Republic.
1 October 2020KYRGYZSTAN: Investments into financial intermediation and insurance increased by 29.6% y-o-y
In the first half of 2020, the inflow of foreign direct investment decreased 2.4 times y-o-y, to USD 164.4 million, according to the National Statistical Committee of the Kyrgyz Republic.
24 September 2020STATISTICS: KYRGYZSTAN, 1H2020: All market segments recorded negative GWP dynamics, except for life insurance
In 1H2020, the insurance market of Kyrgyzstan decreased by more than 22% y-o-y, to KGS 405 million (~EUR 4.74 million*), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic show.
20 August 2020
