Kyrgyzstan

Location:
Central Asia, west of China

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

Natural hazards:
NA


Currency: Som (KGS)

1 EUR = 72.8439 Som - KGS (December 31st, 2016)
1 EUR = 83.0073 Som - KGS (December 31st, 2015)
1 EUR = 71.6943 Som - KGS (December 31st, 2014)
1 EUR = 67.7048 Som - KGS (December 31st, 2013)
1 EUR = 62.6573 Som - KGS (December 31st, 2012)
1 EUR = 60.0652 Som - KGS (December 31st, 2011)
1 EUR = 61.7949 Som - KGS (December 31st, 2010)

Sources:
National Bank of the Kyrgyz Republic
FSA - Gosfinnadzora

Insurance statistics

1H2014Insurance market overview pdf
FY2013Insurance market overview pdf
FY2012Insurance market overview pdf
4M2012Insurance market overview pdf
4M2012Market Portfolioxlsx
3Q2011Insurance market overview pdf
3Q2011Market portfolioxlsx
3Q2011Insurance companies rankingxlsx
8M2011Insurance market overviewpdf
8M2011Market portfolio and rankingsxlsx
2010Insurance market overviewpdf
2010Market portfolio and rankingsxls
1H2010Kyrgyz insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life and non-life insurance rankingsxls

Kyrgyzstan FY2017 Insurance Companies Ranking

Kyrgyzstan FY2017 Market Portfolio

See all statistics

KYRGYZSTAN: CMTPLI tariffs still not approved

Compulsory motor third party liability insurance tariffs are still not approved in Kyrgyzstan. Senior inspector of administrative practices of the Road Patrol Service under the Ministry of Internal Affairs Nur Satybaldyev told 24.kg news agency.

KYRGYZSTAN plans to create state reinsurance company

The Ministry of Economy proposes to create State Reinsurance Company JSC.  A draft resolution was posted on the website of the government for public discussion. The State Property Management Fund was instructed to act as JSC founder by forming its charter capital in the amount of 200 million soms.

International agencies assign credit rating to KYRGYZSTAN for the first time

The international agencies have assigned a credit rating to Kyrgyzstan for the first time. The Ministry of Economy of the Kyrgyz Republic reported. According to him, the country has received sovereign B2/ Stable and B credit ratings from Moody's Investors Service and Standard & Poor's. Note, that large international investors, before coming to the country, study its economic situation exactly according to the ratings. Assigning of credit ratings to the country has impact on the commercial banks and enterprises. Based on it, the banks and other financial intermediaries make decisions on lending, transactions in the money market, insurance, leasing and other situations that require assessment of the solvency of a business partner.

Cost of compulsory health insurance policy for foreign citizens and stateless persons residing in KYRGYZSTAN is approved

Cost of compulsory health insurance policy for foreign citizens and stateless persons residing in Kyrgyzstan is approved, the press service of the Compulsory Health Insurance Fund (HIF) reports. According to it, the agency has made calculations, the cost of the policy is approved in the amount of 1,012 soms per month and 12,149 soms a year. Cost is agreed with the State Agency of antimonopoly regulation of the Government of the Kyrgyz Republic.

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).

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.

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%.