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In Kyrgyzstan, 17 insurance companies are licensed, in reality, only six of these companies are active
According to the Kyrgyz Financial Supervisory Commission's data, in January-September 2014, the total premiums written by the local insurance companies amounted to KGS 880.98 million, while claims paid totaled KGS 111.31 million.
13 May 2015Cost 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.
19 December 2014KYRGYZSTAN: Revenues from insurance premiums amount to 1.8Bn soms in October
In October, revenues from insurance premiums amounted to 1.8 billion soms. It is reported by the Social Fund of the Kyrgyz Republic.
6 November 2014KYRGYZSTAN: Insurance payments amount to 25.2 mln soms since beginning of 2014
Insurance payments in Kyrgyzstan amounted to 25.2 million soms since the
beginning of 2014, the State Financial Supervision of the KR reports.
According to the agency, it decreased by 49.6 percent compared with
January-May 2013.
17 June 2014International 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).
8 May 2014KYRGYZSTAN: 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.
24 April 2014KYRGYZSTAN, 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%.
10 October 2012Kyrgyzstan: 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.
30 August 2012KYRGYZSTAN: Malaysian investors are ready to open insurance company working in accordance with Islamic principles
Malaysian investors are ready to open insurance company working in accordance with Islamic principles in Kyrgyzstan. Kyrgyz National Bank's (NB) Foreign Affairs and PR Department reports concluding meeting of NB president Zina Asankozhoeva with Malaysian Ambassador in Kyrgyzstan Abdul Aziz bin Kharun.
10 April 2012KYRGYZSTAN: Licensing of insurance activities in the Kyrgyz Republic
In this article we will consider the licensing of insurance activities in the Kyrgyz Republic under the current legislation. The Civil Code of the Kyrgyz Republic, Licensing Law, Law on Insurance Procedure in Kyrgyzstan, and the Regulation on licensing of certain activities are the main statutory and legal acts regulating both the insurance activities and licensing of insurance activities.
28 February 2012KYRGYZSTAN: Ingosstrakh Insurance Сompany: 15 years in the Kyrgyzstan Insurance Market
On 31 October, 2011, Kyrgyzinstrakh Insurance, in which Ingosstrakh Insurance Company has a share, commemorates 15 years since its foundation.
23 November 2011KYRGYZSTAN: In Kyrgyzstan, the Ministry of Internal Affairs allows private insurance companies to cash in on carriers of petroleum products - Zhumakadyr Akeneev
"In Kyrgyzstan, the Ministry of Internal Affairs (MVD) allows private insurance companies to cash in on carriers of petroleum products," the head of the Oil Traders Association Zhumakadyr Akeneev told a news conference today.
9 November 2011KYRGYZSTAN: 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.
8 November 2011
