KYRGYZSTAN: net profit of the insurance sector in 2023 increased by 40%

26 March 2024 — Marina MAGNAVAL

In 2023, insurance companies in Kyrgyzstan received a net profit of KGS 457,532.8 thousand after taxes (~EUR 4.64 million), which is KGS 131,673.6 thousand or 40.4% more y-o-y (KGS 325,859.2 thousand), the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic said on its website.

Total assets increased by approximately 31% to KGS 6,824.5 million (~EUR 69.26 million), total equity capital increased by 26.5%, reaching KGS 5,071.2 million (~EUR 51.47 million).



As of January 1, 2024, 15 insurance (reinsurance) organizations operated in the Kyrgyz Republic, of which: 9 organizations with 100% Kyrgyz capital and 6 organizations with the participation of non-residents.

*1 EUR = 98.5328 KGS (December 31st, 2023)


 

 

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