The total volume of reinsurance premiums grew to 1.71 billion soms, while last year it was 1.5 billion soms.
The main factor contributing to this growth was the increase in premiums transferred to foreign reinsurers, which amounted to 180.7 million soms (+14.1%). There is also a noted growth in domestic reinsurance: the volume of operations within the country increased by 30.2 million soms, which is 13.7%.
“Although Kyrgyzstan still relies on foreign reinsurance markets, the growth of domestic operations indicates the formation of national reinsurance potential and the strengthening of trust among participants in the insurance market. This creates favorable conditions for further development of internal cooperation and reduction of external risks in the medium term,” the report emphasizes.
