KYRGYZSTAN: More than 40% increase in 3Q 2011

8 November 2011 — Vlad BOLDIJAR
KYRGYZSTAN: More than 40% increase in 3Q 2011
According to Financial Supervisory Commission, on the 30th September, insurance premium revenues were about KGS 632 million (EUR 10.4 million), or 44% (in European currency) more than the same period in 2010.

At the same time, the local insurance market continued to be dominated by property insurance, which accounted for more than 77% of the total premium volume. Meanwhile, personal, liability and mandatory insurance generated each about 7 percent of total market.

Despite major loss potentials from natural disasters, the level of insurance density in Kyrgyzstan is the lowest in CIS Region (about 1 euro/capita), and insurance penetration is "much too low to mitigate the adverse financial consequences of future natural disasters on the economy, central government and households budgets", as the GFDRR report "Disaster Risk Management Notes for Priority Countries 2009-2015 in Europe and Central Asia" states.

Access www.xprimm.com and download the 3Q 2011 Kyrgyz insurance market statistics.

Market portfolio:
  • Gross written premiums in European currency
  • Gross paid claims in European currency
Market ranking:
  • Gross written premiums in European currency
  • Gross paid claims in European currency 
  • Market shares 
  • Growth rates

5960 views