BISHKEK, Kyrgyzstan, August 24. Insurance companies in Kyrgyzstan have concluded 183,000 insurance contracts from January through June 2023, with approximately 79 percent of them involving individuals, Trend reports.
The data from the National Statistical Committee of Kyrgyzstan indicates that of the total contracts, 55 percent were related to voluntary insurance.
The value of the contracts concluded in the first half of the current year, reached 690 billion soms ($7.8 billion), which is a decline of nearly 15 percent or 119 billion soms ($1.3 billion) compared to the same period last year.
A significant decrease in the value of contracts was observed in those related to voluntary liability insurance, property insurance, and personal medical insurance.
Furthermore, the value of insurance premium payments in Kyrgyzstan financial organizations amounted to 1.5 billion soms ($17 million) from January through June 2023, increasing 1.5 times compared to the first half of 2022.
Since the beginning of the year, 4,700 insurance cases have been reported in the country, with 49 percent of them involving voluntary personal medical insurance. The major share of insurance payments was attributed to voluntary property insurance (78 percent of the total volume) and personal medical insurance (9 percent).