Kyrgyzstan

Kyrgyzstan
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Kyrgyzstan
Location map
author: OCHA/ ReliefWeb


Location:
- Central Asia.
- Neighbours: Tajikistan, Uzbekistan, Kazakhstan, China.

Climate:
- dry continental to polar in high Tien Shan Mountains;
- subtropical in southwest (Fergana Valley);
- temperate in northern foothill zone.

Macro indicators
* 2018 estimates
Surface:199,951km2
Population*:6.4million
Pop. density*:31.9people/km2
GDP*:6.96EUR billion
GDP/capita*:1,090.5EUR

Currency: Som
Code: KGS
Since: 1993


Insurance market portfolio
* 2018 estimates
VOLUNTARY*:83%
COMPULSORY*:17%
Overall Property*:66%
Liability*:8%

Sources:



 









KYRGYZSTAN: Innovations in insurance legislation aimed at modernizing the country's insurance market and increasing its efficiency

The Service for Regulation and Supervision of the Financial Market of Kyrgyzstan has developed a draft law “On Insurance and Insurance Activities” that meets the requirements of international standards established by the International Association of Insurance Supervision (IAIS). The innovations are aimed at modernizing the country’s insurance market and increasing its efficiency, the financial portal Akchabar reports.






KYRGYZSTAN: The financial regulator actively interacts with the insurance industry to improve its functionality and quality of service

The Service for regulation and supervision of the financial market actively interacts with the insurance industry to improve its functionality and quality of service. Comprehensive work is being carried out in two key directions: a media plan for MTPL and digitalization of the insurance market through introduction of electronic insurance, the regulator said.


STATISTICS: KYRGYZSTAN, 3Q2023: y-o-y growth of the insurance sector exceeds 60%

The growth of the insurance sector in 3Q2023 exceeded 60% y-o-y, total GWP reached KGS 2.39 billion (EUR 25.39 million). At the same time, paid claims increased by 54%, to KGS 387.36 million (EUR 4.12 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.