KYRGYZSTAN: Total revenues of the insurance sector increased by 54% in 1H

29 August 2023 — Marina MAGNAVAL
The total revenues of the insurance sector in January-June 2023 in Kyrgyzstan amounted to KGS 1.8 billion (EUR 18.90 million), which is approximately 54% more y-o-y (KGS 1.16 billion), according to the National Statistical Committee of the Kyrgyz Republic.

At the same time, total expenses in the reporting period increased to KGS 1.52 billion, from KGS 1.04 billion in the first half of 2022, which indicates an increase of 46%.

The balanced financial result of insurance organizations amounted to KGS 277.5 million, which means an increase of almost 124% y-o-y (vs KGS 123.9 million).

In 1H2023, 15 insurance companies operated in the financial sector of the Kyrgyz economy, the report said.

* 1 EUR = 95.1905 KGS (June 30th, 2023)