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Chronicle
2024: The insurance market of Kyrgyzstan doubled over the year and amounted to 1.3 billion soms
The profit of insurance companies in Kyrgyzstan in 2024 doubled and amounted to 1.3 billion soms (≈ ₽1,18 billion) compared to 2023. According to the National Statistical Committee of Kyrgyzstan, the total income of insurance organizations reached 7.2 billion soms (≈ ₽6,56 billion), which is almost double the results of 2023. 16 insurance companies worked in the financial market of the republic, showing a significant increase in the main financial indicators. The data was published in May 2025.
The bulk of the income of insurance organizations - 72.5% - were insurance premiums. The industry's expenses also increased, increasing 1.8 times to 6 billion soms (≈ ₽5,47 billion). The total volume of insurance premiums for 2024 amounted to 5.2 billion soms (≈ ₽4,74 billion), which is 70% more than in 2023. The largest increase is observed under contracts of voluntary property insurance and personal insurance against accidents and diseases.
In 2024, 1.7 million insurance contracts were concluded, which is three times more than 2023. Of these, 93% were registered for individuals, 7% - for legal entities.
The most popular types of insurance were voluntary personal insurance against accidents and diseases - 63% of all concluded contracts, compulsory insurance of civil property - 15%, compulsory insurance of motor liability amounted to about 13% of the total number of contracts.
During the year, 22.5 thousand insurance claims were registered, more than half of which - 54% - related to voluntary insurance against accidents and diseases. The total volume of insurance payments amounted to approximately 783 million soms (≈ ₽713 million).
The structure of insurance payments was distributed as follows: 68% was directed to voluntary property insurance, 9% - to personal medical insurance, 5% each were payments for compulsory insurance of motor liability and compulsory insurance of civil property.[1]
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