Significant increase in income of insurance companies noted in Kyrgyzstan

In the first half of this year, 15 insurance companies operated in the financial sector of the republic's economy, whose income increased by 1.5 times compared to the corresponding period last year and reached 1.8 billion soms. At the same time, the bulk of income (82% of their total amount) was received through insurance payments, the National Statistical Committee of Kyrgyzstan reports.

According to the results of the first half of the year, insurance companies received 277.5 million soms of balanced profit, which is 2.2 times more than in the corresponding period of the last year.

As of July 1, 2023, insurance companies concluded about 183 thousand insurance contracts, about 79% of which were contracts with individuals. At the same time, 55% of the total number of concluded contracts fell on the share of voluntary insurance.

The sum insured under the concluded contracts as of July 1, 2023 amounted to 690 billion soms, having decreased by almost 15% or 119 billion soms compared to the same date last year. A significant reduction in the sum insured was noted under contracts of voluntary insurance of liability, buildings of citizens and personal medical insurance.

For the first half of this year, 1.5 billion soms of insurance premiums were received, which is 1.5 times more than in the first half of 2022.

Since the beginning of the year, 4.7 thousand insured events have been registered, of which 49% were due to voluntary personal health insurance. The main amounts of insurance payments made fell on voluntary property insurance (78% of their total volume) and personal health insurance (9%).

Source: knews.kg