STATISTICS: KYRGYZSTAN, 1H2021: the market almost doubled the result of the first half of 2020 (in local currency)

5 August 2021 — Marina MAGNAVAL
The insurance market in Kyrgyzstan at the end of 1H2021 amounted to KGS 780.20 million (EUR 7.74 million), almost twice exceeding the result of the first half of 2020 in local currency (+92.44%), as the data published by the State Service of regulation and supervision of the financial market at the government of the Kyrgyz Republic shows.

Besides life insurance, which occupies a very insignificant share in the market portfolio of less than 1%, all insurance segments recorded impressive growth rates in the first half of the year, with liability insurance growing the most (+216%). At the same time, the smallest growth was observed in mandatory insurance.

Paid claims, by the end of June, increased by only 13.49% to KGS 98.47 million. The largest part in claims portfolio still falls on property insurance.

Of the 14 companies operating in the insurance market of Kyrgyzstan, INGOSSTRAKH holds the leadership (KGS 143.08 million). However, composition of the TOP-3 has changed compared to the first half of 2020: Alma-Insurance moved up and ranks second, ARSENAL Kyrgyzstan - third, having displaced JUBILI Kyrgyzstan to fourth position.

Access and download statistics of the Kyrgyz insurance market for 1H2021.

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