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Market Report, "the Insurance Industry in Kyrgyzstan, Key Trends and Opportunities to 2017", Published

New Insurance research report from Timetric is now available from Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 02/14/2014 -- The Kyrgyzstani insurance industry is underdeveloped and recorded a penetration rate of 0.36% in 2012, lower than neighboring countries Kazakhstan (0.65%) and Uzbekistan (0.50%). Nevertheless, the industry expanded at a review-period CAGR of 40.8%, with gross written premium increasing from KGS276.9 million (US$7.6 million) in 2008 to KGS1.1 billion (US$23.2 million) in 2012.The non-life segment valued KGS1.06 billion (US$22.5 million) in 2012, accounting for 97.3% of the industry's gross written premium. Improving economic conditions and infrastructural investment supported the growth. In 2011, 19 insurance companies were registered to conduct business, of which 14 were active. The industry is expected to remain under pressure due to the country's instable political situation. Demand for property and liability insurance products, the expansion of economic activities and increased public spending on infrastructure will continue to fuel demand. The industry is expected to post a forecast-period CAGR of 24.4%.

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Key Highlights

- The Kyrgyzstani insurance industry is underdeveloped and recorded a penetration rate of 0.36% in 2012, lower than neighboring countries Kazakhstan (0.65%) and Uzbekistan (0.50%)
- The non-life segment valued KGS1.06 billion (US$22.5 million) in 2012, accounting for 97.3% of the industry's gross written premium
- In 2011, 19 insurance companies were registered to conduct business, of which 14 were active
- Demand for property and liability insurance products, the expansion of economic activities and increased public spending on infrastructure will continue to fuel demand

Scope

This report provides a comprehensive analysis of the insurance industry in Kyrgyzstan:

- It provides historical values for Kyrgyzstani insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and sub-segments in Kyrgyzstani insurance industry, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Kyrgyzstan, and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related in the Kyrgyzstani insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Kyrgyzstani insurance industry
- Assess the competitive dynamics in the Kyrgyzstani insurance industry
- Identify the growth opportunities and market dynamics within key segments

Companies Mentioned in this Report: Insurance Company 'Ak-Jol', OJSC IC 'Dos-Invest', Insurance Company 'Kyrgyzstan', JSIC 'ATN Policy', JSC 'Inkompolis', JSC 'Mega Insurance Group', SKRZSAO for foreign insurance 'Kyrgyzinstrakh', CJSC IC 'Amanatpolis', JSC IC Belrosstrah, SBA CJSIC Midsummer,

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