Kyrgyzstan
STATISTICS: 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 2020STATISTICS: KYRGYZSTAN, 5M2020: Property insurance keeps almost 52% of the market portfolio
For the first 5 months of 2020, insurance market of Kyrgyzstan generated GWP worth KGS 297.7 million (EUR 3.63 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.
23 July 2020KYRGYZSTAN: insurers' income in Q1 increased by over 20% y-o-y, while annual growth of the total insurance amount under contracts exceeded 48%
In January-May 2020, total insurers' income (of 16 companies operating on the market in 1Q2020) amounted to KGS 407.6 million (~EUR 4.52 million*), which is 20.2% more y-o-y.
20 July 2020KYRGYZSTAN: the law on MTPL for regular car owners to come into force on January 1, 2022
This year the law on mandatory third-party liability insurance (MTPL) in Kyrgyzstan begins to be applied to foreigners who own cars too.
14 July 2020STATISTICS: KYRGYZSTAN, FY2019: property insurance occupies over 63% of the market portfolio
In 2019, Kyrgyz market grew to KGS 1.33 billion (EUR 17.09 million), which is 21.29% more y-o-y in local currency, as the data, published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic, show.
27 February 2020STATISTICS: KYRGYZSTAN, 3Q2019: over half of total GWP comes from property insurance
At the end of September 2019, GWP of the Kyrgyz insurance market saw an increase by almost 15% y-o-y (in local currency), to KGS 734.38 million/EUR 9.65 million, as the data, published by the National Statistical Committee of the Republic, show.
28 November 2019STATISTICS: KYRGYZSTAN, 1H2019: paid claims amounted to 18% of the market GWP
Total market GWP in 1H2019 reached KGS 523.09 million (EUR 6.61 million), according to data published by the State Service of Financial Market Regulation and Supervision for the Kyrgyz Republic.
12 September 2019STATISTICS: KYRGYZSTAN, 1Q2019: property insurance exceeded 54% of market portfolio
According to data published by the Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets, in the first three months of 2019, GWP amounted to KGS 268.10 million (EUR 3.42 million).
6 June 2019STATISTICS: KYRGYZSTAN, FY2018: more than 83% of business generated by voluntary classes
In 2018, the insurance market of Kyrgyzstan saw growth of 8.79% y-o-y in local currency. GWP, generated by insurers, reached KGS 1.09 billion (EUR 13.65 million), as data published by the National Statistical Committee of the Republic show.
9 May 2019KYRGYZSTAN: INGOSSTRAKH leads TOP-7 insurers in 2018 GWP
Of 17 insurers, INGOSSTRAKH leads the TOP-7 in terms of 2018 GWP (USD 6.09 million), according to an overview of the Kyrgyz market, presented at the international conference in Kazakhstan, dedicated to insurance in Central Asia.
25 April 2019Only 12 out of 19 insurance companies in Kyrgyzstan are profitable
24 April 2019INGOSSTRAKH Insurance has traditionally held the leading position in the market of the Kyrgyz Republic in 2018
Based on 2018 results, the total GWP of INGOSSTRAKH Insurance Company under direct insurance agreements amounted to KGS 423,5 million, which in total market GWP, generated by 16 insurance companies of the Kyrgyz Republic, is equal to 40,9%.
21 March 2019KYRGYZSTAN: ATN Polis headed rankings in terms of 2018 paid claims
Insurance company ATN Polis became the market leader of Kyrgyzstan in terms of claims paid in 2018. The insurer's paid claims amounted to KGS 20.51 million (~EUR 0.25 million), according to the company's official announcement on its website.
14 March 2019KYRGYZSTAN: property insurance led 2018 year in GWP and paid claims
The State Service on regulation and supervision of the financial market under the government of the Kyrgyz Republic (supervisor) on February 8, 2019 conducted a meeting of the Executive Council, dedicated to the results of 2018 and tasks for 2019, according to the statement on the official website.
14 February 2019KYRGYZSTAN: law on compulsory MTPL insurance will come into force on February 7, 2019
On February 7, 2019 the law on compulsory MTPL insurance will come into force in Kyrgyzstan, as the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic informed.
25 January 2019
