Kyrgyzstan: half of the Kyrgyz insurers ended Q1 2018 with a positive balance sheet

Total profit for the 1st quarter 2018 amounted to KGS 58.2 million. "Out of 21 insurance companies of the market, profit was generated by 10 companies", - informed the National statistics committee.

The remaining 11 insurers recorded losses (7 companies) in total amount of KGS 25.4 million, or zero result (4 companies).

The local market is represented by 21 insurance companies. The largest insurers in the country in 2017 were KYRGYZINSTRAKH (39% market share) followed by DJUBILI Kyrgyzstan Insurance Company (8.6%) and KYRGYZSTAN Insurance (8.4%). KYRGYZINSTRAKH is the state insurer established in 1996 and the leading insurance company of the Kyrgyz Republic both for voluntary and compulsory insurance classes. In 2017 KYRGYZINSTRAKH concluded home insurance contracts over 6 times more than a year before and for other classes - over 7 times more contracts than in 2016.

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