STATISTICS: KYRGYZSTAN, 1Q2022: the market expanded by about 44% y-o-y (in local currency)

8 June 2022 — Marina MAGNAVAL
According to the 1Q results, the insurance sector of Kyrgyzstan recorded an increase of about 44% y-o-y, reaching KGS 468.06 million (EUR 5.04 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.

The most impressive growth was demonstrated by mandatory insurance - more than 100% y-o-y, while personal insurance grew the least compared to the same quarter of last year - by 8%.

Insurers' paid claims increased by 97%, reaching KGS 83.32 million. The growth drivers of paid claims are such segments as property insurance and liability insurance. On the other hand, in personal and mandatory insurance paid claims, on the contrary, shrunk.

In the first quarter of 2022, 13 insurers were active on the market, among which ARSENAL Kyrgyzstan was the leader (KGS 93.59 million), after displacing the former leaders one position lower - INGOSSTRAKH to the second, JUBILEE to the third and NSK - to the fourth.

Access and download the latest Kyrgyzstani insurance market statistics.

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