Due to the growth of som (KGS) against euro (if compared to the end of 3Q2018), the local market growth in european currency was way more significant (+21.42%).
Non-life makes almost 100% of the market portfolio. The largest share is still provided by property insurance (KGS 413.85 million/EUR 5.44 million) and its market stake increased by about 5% if compared to the end of 1H2019. Personal insurance ranks second.
Paid claims grew by almost 39% in local currency, to KGS 124.22 million/EUR 1.63 million. At that insurers paid the most for the leading class - property insurance (~KGS 46 million). A huge drop in paid claims was observed in mandatory insurance (-78.38%).
By the end of September, 14 companies were active on the Kyrgyz market. The largest share among all companies (34% of total GWP) still belongs to the leader - INGOSSTRAKH (KGS 246.80 million). JUBILI KYRGYZSTAN keeps the second place in the ranking, and KYRGYZSTAN insurance company moved up to the 3rd place.
* 1 EUR = 80.4379 Som - KGS (September 30th, 2018)
1 EUR = 76.1411 Som - KGS (September 30th, 2019)