STATISTICS: KYRGYZSTAN, 3Q2019: over half of total GWP comes from property insurance

28 November 2019 — Marina MAGNAVAL
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.

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)

Access and download 3Q2019 Kyrgyz insurance market statistics.

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