The expenses of insurance companies in 2022 increased by 1.9 times to KGS 2.5 billion. At the same time, 22.3% of the total amount was accounted for by the costs associated with doing business, 24.4% - by deductions to insurance reserves and 34.7% - by the costs of paying insurance premiums ceded to reinsurance.
In 2022, the balanced profit of insurance companies exceeded KGS 378 million, which is 47.4% more y-o-y.
At the end of 2022, total sum insured under all concluded insurance contracts reached KGS 1,367.7 billion, having increased by 41.4% compared to 2021, the Committee's press release says.
* 1 EUR = 91.4377 KGS (December 31st, 2022)