BISHKEK, Kyrgyzstan, August 24. The revenues of insurance companies in Kyrgyzstan amounted to 1.8 billion soms ($20 million) from January through June 2023, which is 1.5 times more than in the same period of 2022, Trend reports.
According to data from the National Statistical Committee of Kyrgyzstan, 15 insurance companies were operational across the country in the first half of the current year. The main share of the income (82 percent) was obtained through insurance payments.
The expenses of insurance companies for this period increased by 46.4 percent year-on-year and amounted to 1.5 billion soms ($170 million).
Overall, insurance companies in Kyrgyzstan received a net profit of 277.5 million soms ($3.1 million) during the period from January through June 2023, which is 2.2 times higher than in the same months of 2022.
Meanwhile, 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.
The expenses of insurance companies for this period increased by 1.9 times and amounted to 2.5 billion soms ($28.5 million).
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.