Representatives of 16 insurance companies discussed new rules and strengthening financial stability at a joint meeting.
A large-scale meeting dedicated to the development of the reinsurance market in Kyrgyzstan took place in Bishkek.
Reinsurance is the process by which one insurance company transfers part of its risks to another, allowing for a reduction in potential losses.
The event was attended by 16 private insurance companies, organized by the State Insurance Organization (GSO), which is the national operator in the field of reinsurance. Participants discussed current challenges in the market, as well as prospects for joint development and enhancing financial stability.
As a result of the discussions, the companies agreed to create a unified internal regulation for reinsurance and to work together on strengthening capital. The outcomes of the meeting were sent to the Financial Market Regulation and Supervision Service of the Ministry of Economy.
According to experts, these measures will make insurance in Kyrgyzstan more reliable and help protect companies from significant losses.
Photo by the press service of the State Insurance Organization
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