KYRGYZSTAN: Volume of insurance payments halves in 2015

In 2015, the volume of insurance payments halved, the board chairman of the State Service for Supervision over the Financial Market Sanzhar Mukanbetov said today at a meeting.

According to him, in 2015 the volume of insurance premiums in Kyrgyzstan amounted to 1.6 billion soms. During the year, it decreased by 1.1 percent. The volume of insurance payments in the republic was formed in the amount of 67.1 million soms, which is 50.3 percent less than in 2014.

"As of January 1, 2016 ,at least 18 insurance organizations operate in Kyrgyzstan. Their total assets amounted to 2, 937 billion soms, and equity - 2, 483 billion soms," he said. Read the full story

Related articles

photodune-3834701-laughing-girl-xs

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).

2014-05-08
photodune-3834701-laughing-girl-xs

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.

2014-04-24
photodune-3834701-laughing-girl-xs

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%.

2012-10-10
photodune-3834701-laughing-girl-xs

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
photodune-3834701-laughing-girl-xs

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.

2011-11-08

ON THE MOVE

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

12.04.2018

TOP EVENT

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

photodune-3834701-laughing-girl-xs

LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

photodune-3834701-laughing-girl-xs

The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

See all