The insurance sector of Kyrgyzstan at the end of 1Q2024 grew by 14.60%, reaching KGS 804.60 million (EUR 8.34 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.

Among the main insurance classes, liability insurance saw the highest growth rate (+46.18%), while mandatory insurance and life insurance decreased y-o-y.

Paid claims of insurers jumped by almost 98%, reaching about KGS 122 million (EUR 1.26 million). Paid claims increased the most in mandatory insurance (+468.54%), and the least in personal insurance.

At the end of 1Q2024, 16 insurers operated in the market, among which NSK holds first place in terms of GWP (KGS 162.21 million/EUR 1.68 million). It is worth noting that the leader’s GWP fell by 10% y-o-y. ARSENAL Kyrgyzstan holds second place with KGS 121.42 million/EUR 1.26 million.

Access xprimm.com and download the latest Kyrgyzstan insurance market statistics for 1Q2024 in EUR and KGS.