Kyrgyzstan

Kyrgyzstan
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Kyrgyzstan
Location map
author: OCHA/ ReliefWeb


Location:
- Central Asia.
- Neighbours: Tajikistan, Uzbekistan, Kazakhstan, China.

Climate:
- dry continental to polar in high Tien Shan Mountains;
- subtropical in southwest (Fergana Valley);
- temperate in northern foothill zone.

Macro indicators
* 2018 estimates
Surface:199,951km2
Population*:6.4million
Pop. density*:31.9people/km2
GDP*:6.96EUR billion
GDP/capita*:1,090.5EUR

Currency: Som
Code: KGS
Since: 1993


Insurance market portfolio
* 2018 estimates
VOLUNTARY*:83%
COMPULSORY*:17%
Overall Property*:66%
Liability*:8%

Sources:



 

KYRGYZSTAN: The financial regulator actively interacts with the insurance industry to improve its functionality and quality of service

The Service for regulation and supervision of the financial market actively interacts with the insurance industry to improve its functionality and quality of service. Comprehensive work is being carried out in two key directions: a media plan for MTPL and digitalization of the insurance market through introduction of electronic insurance, the regulator said.


STATISTICS: KYRGYZSTAN, 3Q2023: y-o-y growth of the insurance sector exceeds 60%

The growth of the insurance sector in 3Q2023 exceeded 60% y-o-y, total GWP reached KGS 2.39 billion (EUR 25.39 million). At the same time, paid claims increased by 54%, to KGS 387.36 million (EUR 4.12 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.





STATISTICS: KYRGYZSTAN, 1H2023: over 54% of all premiums are generated in property insurance

The growth of the insurance sector in 1H2023 amounted to 48.10%, GWP reached KGS 1.47 billion (EUR 16.21 million). At the same time, paid claims increased even more - by 61%, to KGS 303.03 million (EUR 3.32 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.






STATISTICS: KYRGYZSTAN, FY2022: insurance sector grows by 71% y-o-y

At the end of 2022, the insurance sector of Kyrgyzstan grew by 71% to KGS 2.16 billion (EUR 23.61 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.






STATISTICS: KYRGYZSTAN, 3Q2022: the market is up by more than 51% y-o-y

3Q2022, the insurance sector of Kyrgyzstan ended with impressive growth y-o-y - by 51%, reaching KGS 1492.37 million (EUR 19.26 million), according to data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic.