KYRGYZSTAN: Public trust in insurance companies has increased

24 April 2014 —
KYRGYZSTAN: Public trust in insurance companies has increased
kyrgyzstanAccording to the data of Kyrgyz Financial Supervisory Commission (FSC), in 2013 total premium written by the local insurance companies amounted to KGS 967.8 million (EUR 14.29 million) which is 15.2%, more, in local currency, than in the previous year, when insurance premiums totaled KGS 840.10 million or EUR 13.41 million. Growth of insurance premiums suggests that population's trust in insurance companies have increased.

In 2013 paid claims have reached KGS 92.5 million (EUR 1.37 million), which in local currency means a y-o-y increase of 80.6%.

Number of insurance contracts concluded with legal entities and individuals amounted to 178,943 units, showing a 29.5% increase as compared with 2012.

By the end of 2013, 17 insurance companies were operating in Kyrgyzstan.

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