BISHKEK, Kyrgyzstan, April 30. President Sadyr Zhaparov has signed the new Law "On Insurance and Insurance Activities," which was adopted by the parliament on March 20, 2025, Trend reports via the administration of the president.
The law lays the foundation for a modern insurance market structure and aims to enhance the protection of policyholders and insured individuals, improve the financial resilience of insurers, and contribute to the development of the national economy.
Moreover, it outlines the key principles governing insurance as an entrepreneurial activity, including the procedures for establishing, licensing, regulating, and terminating insurance and reinsurance companies. The law also defines the rules for other individuals and entities operating in the insurance market and sets out the responsibilities of state authorities in regulating, overseeing, and supervising market participants.
The primary goal of the law is to create a favorable and stable insurance environment that supports economic growth, safeguards the interests of citizens and businesses, and strengthens Kyrgyzstan’s position in the global insurance market.