BAKU, Azerbaijan, April 24. Revenues of insurance companies in Kyrgyzstan in 2022 amounted to 2.9 billion soms ($33 million), which is 1.8 times more than in 2021, Trend reports citing the State Statistical Committee of Kyrgyzstan.
According to the statistics, the main source of income (74.6 percent) was obtained through insurance payments.
Meanwhile, the expenses of insurance companies for this period increased by 1.9 times and amounted to 2.5 billion soms ($28.5 million).
As stated by the committee, 22.3 percent of the total expenses were spent on expenses related to conducting business, 24.4 percent on contributions to insurance reserves, and 34.7 percent on expenses for paying insurance premiums transferred for reinsurance.
In total, insurance companies received more than 378 million soms ($4.3 million) of net profit in 2022, which is 47.4 percent more than in 2021.
Last year, insurance companies in Kyrgyzstan received 2.1 billion soms ($23.9 million) of insurance premiums, which is 1.7 times more than in 2021.
According to the statistics, 15 insurance companies operated throughout the country last year.