Turkmenistan
Statistics
FY2013 Insurance market overview
FY2012 Insurance market overview
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TURKMENISTAN: the insurance fund in 2020 increased by 6.1% y-o-y
In 2020, the number of contracts concluded with individuals and legal entities increased by 25.4% y-o-y, including the contracts for compulsory types of insurance, which increased by 37.3%, and for voluntary insurance - by 23.5%.
16 February 2021TURKMENISTAN: the list of works as subject for compulsory state personal insurance has been approved
In Turkmenistan, a list of high-risk works and categories of workers employed in high-risk production conditions, subject to compulsory state personal insurance against industrial accidents and occupational diseases, has been approved, Turkmenportal said.
4 February 2021TURKMENISTAN: procedure for claim payment to military personnel under compulsory state insurance to be simplified
On October 29, 2020, at a meeting of the Cabinet of Ministers, the Deputy Prime Minister for Economy and Finance announced that work is underway on compulsory insurance of military personnel in accordance with the Decree of the President of Turkmenistan d/d March 31, 2010 "On compulsory state personal insurance of military personnel and persons liable for military service, persons of ordinary and commanding staff of internal affairs bodies", writes turkmenportal.com.
5 November 2020TURKMENISTAN: the Rules on state individual mandatory insurance of passengers of all transport types approved
On September 11, 2020, the President of Turkmenistan Gurbanguly BERDYMUKHAMEDOV approved the Rules for mandatory state insurance for passengers of all types of transport and transport complex employees, the State news agency of Turkmenistan informed.
16 September 2020TURKMENISTAN: A new draft on individual mandatory state insurance is underway
Turkmenistan is about to introduce a mandatory insurance for the passengers of all transport types, Turkmenportal informs. The corresponding draft of the latest edition of "Rules for mandatory state insurance of passengers of all types of transport and transport complex employees" was presented by Deputy Chairman of the Cabinet of Ministers, Gadyrgeldi MUSHSHIKOV, at a recent session of the government.
3 June 2020TURKMENISTAN: Republic of Turkmenistan now the 47th member country of ICIEC
At the beginning of September, Turkmenistan joined the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), thus becoming the 47th member country of ICIEC, the Corporation announced.
12 September 2019Turkmenistan takes steps to improve insurance activities
5 June 2019TURKMENISTAN: new General Director of the State insurance organization appointed
Guvanch NURMUKHAMMEDOV has been appointed as the new General Director of the State insurance organization, the single insurance institute of Turkmenistan, as the State information agency of Turkmenistan wrote.
7 February 2019Turkmenistan names new director general of Insurance Organization
5 February 2019TURKMENISTAN: new acting general director of the State insurance organization appointed
The deputy general director of Turkmengosstrakh - Dovletmyrat GULMYRADOV was appointed as the acting General Director of this single insurance organization, as the State information agency of Turkmenistan announced on January 21 with reference to an official decree of the President of the country.
23 January 2019TURKMENISTAN: The government has banned all color cars except for one
President of Turkmenistan Gurbanguly Berdimuhamedov at the beginning of the year was banned in the capital to use the cars differ in color from white, but now the ban has spread to all regions of the state.
17 May 2018TURKMENISTAN: Compulsory TPL insurance of the companies which may endager environment has came into force
The law on environmental safety came into force in Turkmenistan. The new legal act stipulates compulsory insurance of civil liability of enterprises and industries that are a source of increased environmental danger.
22 June 2017TURKMENISTAN: The insurance penetration degree remains at a low level in GDP, 0.20% (2012-2014)
According to the XPRIMM estimates, the insurance penetration degree remains at a low level in GDP, 0.20% (2012-2014).
13 May 2015TURKMENISTAN: Steps forward to create a single insurance information network
The State Insurance Organization of Turkmenistan, for the time being the sole insurance entity in the country, is completing the creation of a single information network, TREND news agency reported. The Turkmen State Insurance Organization has an extensive network in the country of more than 40 offices and is currently taken steps to expand its partnerships with leading international insurance, reinsurance companies and insurance brokers.
2 October 2014Turkmenistan launches the entities to supervise the privatization of state property
Turkmen President Gurbanguly BERDIMUHAMEDOV signed a decree on the establishment of relevant interdepartmental central committee at the Ministry of Economy and Development of Turkmenistan for the execution of the law "On denationalization and privatization of state property", TREND News Agency reported on August 1st.
4 September 2014TURKMENISTAN: A chance for the insurance market demonopolisation in 2014
Starting July 1st, 2014 in Turkmenistan the process of demonopolisation and privatisation of state property will begin, in accordance with the law adopted in December 2013 by the Turkmen Parliament. The new law enforcement also addresses the development of the insurance industry, as it allows the entrance of private capital in this area of business, previously completely controlled by the State through a state monopoly insurance company (The State insurance Company of Turkmenistan).
15 January 2014TURKMENISTAN introduced compulsory ecological insurance
Compulsory ecological insurance is being introduced in Turkmenistan on
March 1, 2013 for enterprises and those conducting ecologically
dangerous activities according to an official source from Turkmenistan.
1 March 2013TURKMEN parliament approves insurance bill
The Majlis (Turkmen Parliament) at the next meeting of the fourth
convocation of the country has approved the law on Insurance, an
official Turkmen source said today.
7 January 2013TURKMENISTAN is preparing to launch a new insurance company
In the near future will be launched a new player on the insurance market of Turkmenistan, informed the local media. The company name will be ATIYACLANDYRYS Hyzmatlary ("Insurance Services"), and will have the following local entities as shareholders: TURKMENGAS (25%% stake in share capital as a founder), TURKMENISTAN Airlines (with a share of 15% of the authorized capital) and State Insurance of Turkmenistan (with a share of 10%).
23 August 2012TURKMENISTAN, FY2011: Figures showing the "local appetite" for insurance
In 2011 the gross premium written in Turkmenistan was of EUR 45.7 million, 15% more as compared to a year before. By insurance classes, voluntary segment predominated and represented 95% of total, a hardly usual situation for CIS Region. Looking at the past results, one should notice that the insurance market increased six times in last five years. Responsible for the development of the insurance industry is "the only one" company that operates: TURKMEN GOSSTRAKH which can be translated into "State Insurance Organization of Turkmenistan".
10 May 2012XPRIMM Newsletter
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