STATISTICS: KYRGYZSTAN, FY2019: property insurance occupies over 63% of the market portfolio

27 February 2020 — Marina MAGNAVAL
In 2019, Kyrgyz market grew to KGS 1.33 billion (EUR 17.09 million), which is 21.29% more y-o-y in local currency, as the data, published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic, show.

Market growth in the European currency looked slightly more favorable (+24.50%) due to the growth of the local currency Som against euro.

The biggest share in the market portfolio belongs to property insurance (over 63%). The share of personal insurance increased a bit, while the share of compulsory classes decreased by more than 1%.

Insurers' paid claims increased by almost 41% year-on-year, with the largest share falling to the segments of property and personal insurance (also two of the most voluminous insurance lines in terms of GWP).

Out of 15 companies, over 42% of the market premiums were generated by the market leader - INGOSSTRAKH (KGS 565.74 million / EUR 7.25 million). TOP-3 insurers in terms of GWP also includes JUBILI KYRGYZSTAN and A Plus. A Plus has advanced one position up in the ranking compared to 2018, due to a faster GWP growth, leaving KYRGYZSTAN Insurance to take the fourth place.

1 EUR = 77.9803 Som - KGS (December 31st, 2019)
1 EUR = 80.0446 Som - KGS (December 31st, 2018)

Access and download the latest Kyrgyz insurance market statistics.

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