KYRGYZSTAN: insurers' revenues grew by 23% in the first half of the year

24 August 2022 —
According to the results of the first half of 2022, revenues of 14 insurance companies of Kyrgyzstan increased by 23% y-o-y and amounted to KGS 1.2 billion (~EUR 14.36 million). At the same time, the largest part (85%) was received from insurance premiums, according the National Statistical Committee of the Kyrgyz Republic.

According to the results of 1H2022, insurance companies received about KGS 124 million of balanced profit, which is 29.5% less than in the corresponding period of the last year.

The number of insurance contracts concluded as of July 1, 2022 amounted to 127.5 thousand units. Of the total number of contracts concluded, over 86% were contracts with individuals; voluntary insurance accounted for more than 65% of the total number of concluded contracts.

In 1H2022, total sum insured under the concluded contracts reached KGS 809 billion, having increased by a third compared to the same period last year. The largest increase was noted under contracts of voluntary liability insurance and personal insurance.

Total GWP in the first half of 2022, according to the Committee, amounted to about KGS 1 billion, which is almost 29% more than a year earlier.

Since the beginning of the year, 3.7 thousand insured events have been recorded, of which 57% fell on voluntary personal health insurance. The largest amounts were paid for voluntary property insurance (60.5%) and personal health insurance (over 17%).

* 1 EUR = 83.5625 KGS (June 30th, 2022)