KYRGYZSTAN: MP suggests introduction of vehicle liability insurance since January 2018

MP Almazbek Ergeshov (Kyrgyzstan) has proposed to introduce vehicle liability insurance since January 1, 2018, one year earlier than planned. Read the full story

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International law firm to advise KYRGYZSTAN on Takaful and Sukuk finance

The international law firm SIMMONS & SIMMONS and the Kyrgyz Republic have signed a ground-breaking agreement to provide consultancy services for the development of laws and regulations, supporting the introduction of Takaful (Islamic insurance) and Sukuk (Islamic securities) in the Kyrgyz Republic. The consultancy services to be provided by SIMMONS & SIMMONS are to be funded through a technical assistance grant provided by the Islamic Development Bank (IDB).

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KYRGYZSTAN: Public trust in insurance companies has increased

According to the data of Kyrgyz Financial Supervisory Commission (FSC), in 2013 total premium written by the local insurance companies amounted to KGS 967.8 million (EUR 14.29 million) which is 15.2%, more, in local currency, than in the previous year, when insurance premiums totaled KGS 840.10 million or EUR 13.41 million. Growth of insurance premiums suggests that population's trust in insurance companies have increased.

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KYRGYZSTAN, January-April 2012: Market recovery

According to the Kyrgyz Financial Supervisory Commission (FSC) data, in January-April 2012 total premium written by the local insurance companies amounted to KGS 106.8 million (EUR 1.54 million) which is 13.5% more, in local currency, than in the corresponding period of the previous year. Claims paid reached KGS 11.3 million (EUR 0.16 million), which in local currency means an y-o-y increase of 7.6%.

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Kyrgyzstan: Establishment of the first reinsurance company

Kyrgyzstan's Government initiated a draft law, proposed for public debate, regarding the set-up of a reinsurance company, "KYRGYZ-English Reinsurance Company", noted a newsletter published by the Government, according to website Knews.ru.

2012-08-30
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KYRGYZSTAN: More than 40% increase in 3Q 2011

According to Financial Supervisory Commission, on the 30th September, insurance premium revenues were about KGS 632 million (EUR 10.4 million), or 44% (in European currency) more than the same period in 2010.

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