STATISTICS: KYRGYZSTAN, 3Q2021: insurers' business grew by almost 50% (in KGS)

2 November 2021 — Marina MAGNAVAL
The insurance sector of Kyrgyzstan at the end of 3Q2021 grew by almost 50% and reached KGS 987.04 million (EUR 9.98 million), according to the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.

Among the insurance segments, the most impressive growth was recorded by liability insurance (+259% y-o-y), and the most moderate - by mandatory insurance (up by only 1.61%).

Paid claims of insurers at the end of the third quarter amounted to KGS 171.12 million (EUR 1.73 million) - more than 36% up y-o-y (in local currency). Most payments were made in property insurance (KGS 93.90 million).

At the end of 3Q2021, 13 insurance companies were operating in the market, of which JUBILI came out on top (from the second position a year earlier), having generated KGS 139.64 million of GWP and moved INGOSSTRAKH to the second place (KGS 128.42 million). NSK ranked third, having moved one position up.

Access and download the latest Kyrgyz insurance market statistics.

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