BISHKEK, Kyrgyzstan, April 24. Insurance companies of Kyrgyzstan concluded 1.7 million contracts in 2024, three times more than in 2023.
According to data obtained by Trend from the National Statistical Committee, out of the total number of contracts signed, 93 percent were with individuals, while 7 percent were with legal entities.
The largest share of policies was in voluntary personal insurance against illness and accidents (63 percent), followed by mandatory insurance of citizens’ real estate (15 percent) and compulsory motor third-party liability insurance (around 13 percent).
The volume of insurance premiums in 2024 reached 5.2 billion soms (approximately $59 million), showing a 1.7-fold increase compared to 2023. The most significant growth in premiums was recorded in voluntary property insurance and personal insurance against accidents and illness.
Throughout the year, 22,500 insurance claims were registered. Of these, 54 percent were related to voluntary insurance against accidents and illnesses.
Moreover, the total amount of insurance payouts stood at around 783 million soms (approximately $9 million). Of this, 68 percent accounted for voluntary property insurance, 9 percent for personal medical insurance, and 5 percent each for compulsory motor third-party liability insurance and mandatory insurance of citizens’ real estate.
A total of 16 insurance entities were actively engaged in the financial ecosystem of Kyrgyzstan in the year 2024.
