Turkmenistan
TURKMENISTAN: A chance for the insurance market demonopolisation in 2014
Starting July 1st, 2014 in Turkmenistan the process of demonopolisation and privatisation of state property will begin, in accordance with the law adopted in December 2013 by the Turkmen Parliament. The new law enforcement also addresses the development of the insurance industry, as it allows the entrance of private capital in this area of business, previously completely controlled by the State through a state monopoly insurance company (The State insurance Company of Turkmenistan).
15 January 2014TURKMENISTAN introduced compulsory ecological insurance
Compulsory ecological insurance is being introduced in Turkmenistan on
March 1, 2013 for enterprises and those conducting ecologically
dangerous activities according to an official source from Turkmenistan.
1 March 2013TURKMEN parliament approves insurance bill
The Majlis (Turkmen Parliament) at the next meeting of the fourth
convocation of the country has approved the law on Insurance, an
official Turkmen source said today.
7 January 2013TURKMENISTAN is preparing to launch a new insurance company
In the near future will be launched a new player on the insurance market of Turkmenistan, informed the local media. The company name will be ATIYACLANDYRYS Hyzmatlary ("Insurance Services"), and will have the following local entities as shareholders: TURKMENGAS (25%% stake in share capital as a founder), TURKMENISTAN Airlines (with a share of 15% of the authorized capital) and State Insurance of Turkmenistan (with a share of 10%).
23 August 2012TURKMENISTAN, FY2011: Figures showing the "local appetite" for insurance
In 2011 the gross premium written in Turkmenistan was of EUR 45.7 million, 15% more as compared to a year before. By insurance classes, voluntary segment predominated and represented 95% of total, a hardly usual situation for CIS Region. Looking at the past results, one should notice that the insurance market increased six times in last five years. Responsible for the development of the insurance industry is "the only one" company that operates: TURKMEN GOSSTRAKH which can be translated into "State Insurance Organization of Turkmenistan".
10 May 2012
