In 2020, 15 insurance companies worked in the insurance market of Kyrgyzstan. The bulk of insurers' income (75%) came from insurance premiums.
During the reporting period, expenses of insurance companies increased by 1.7% to KGS 1.5 billion. More than half of the expenses fell on the costs of paying insurance premiums ceded in reinsurance and over 26% - on the costs of doing business.
At the end of 2020, the net profit of insurers amounted to about KGS 275 million, which is 41% more than in 2019.
* for the following exchange rate:
1 EUR = 102.3627 KGS (as of 01.01.2021)