The Insurance Industry in Kyrgyzstan, Key Trends and Opportunities to 2017

Published: Jan, 2014 | Pages: 144 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth industry analysis, information and insights into the insurance industry in Kyrgyzstan, including:
The Kyrgyzstani insurance industry's growth prospects by insurance segments and sub-segments 
The competitive landscape in the Kyrgyzstani insurance industry
The current trends and drivers of the Kyrgyzstani insurance industry
The challenges facing the Kyrgyzstani insurance industry
The regulatory framework of the Kyrgyzstani insurance industry
Benchmarking section on the Kyrgyzstani insurance industry in comparison to other countries in the CIS region  

Summary
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%.  
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 
Reason To Buy
 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
Gain insights into key regulations governing the Kyrgyzstani insurance industry and its impact on companies and the industry's future 
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

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Life Insurance - Regiol Benchmarking
4.1 Scale and Penetration
4.1.1 Total gross written premium
4.1.2 Premium per capita
4.1.3 Life insurance penetration (as a percentage of GDP)
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
5 Non-Life Insurance - Regiol Benchmarking
5.1 Scale and Penetration
5.1.1 Total market gross written premium
5.1.2 Premium per capita
5.1.3 Non-life insurance penetration (as a percentage of GDP)
5.2 Growth
5.2.1 Gross written premium
5.2.2 Gross written premium per capita
5.3 Efficiency and Risk
5.3.1 Loss ratio
5.3.2 Combined ratio
5.3.3 Incurred losses per capita
5.3.4 Incurred losses as a percentage of GDP
6 Persol Accident and Health Insurance - Regiol Benchmarking
6.1 Scale and Penetration
6.1.1 Total market gross written premium
6.1.2 Premium per capita
6.1.3 Persol accident and health insurance penetration (as a percentage of GDP)
6.2 Growth
6.2.1 Gross written premium
6.2.2 Gross written premium per capita
6.3 Efficiency and Risk
6.3.1 Loss ratio
6.3.2 Combined ratio
6.3.3 Incurred losses per capita
6.3.4 Incurred losses as a percentage of GDP
7 Kyrgyzstan Insurance Industry Overview
7.1 Kyrgyzstan Insurance Industry
7.2 Key Industry Trends and Drivers
7.3 Challenges
8 Industry Segmentation
8.1 Life Insurance
8.2 Non-Life Insurance
8.2.1 Property insurance
8.2.2 Motor insurance
8.2.3 Liability insurance
8.2.4 Marine, aviation and transit insurance
8.3 Persol Accident and Health Insurance
8.4 Regulation
8.5 Reinsurance
9 Competitive Landscape
9.1 Overview
9.2 Insurance Companies Operating in Kyrgyzstan
10 Economic and Business Environment
10.1 Market capitalization trend - Kyrgyz Stock Exchange
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US dollar)
10.2.3 GDP at current prices (US dollar)
10.2.4 GDP per capita at current prices (US dollar)
10.2.5 GDP by key segments
10.2.6 Mining, manufacturing and utilities at current prices (US$)
10.2.7 Construction net output at current prices (US$)
10.2.8 Inflation rate
10.2.9 Unemployment rate
10.2.10 Exports as a percentage of GDP
10.2.11 Imports as a percentage of GDP
10.2.12 Gross tiol disposable income (US$)
10.2.13 Total population
10.2.14 Life Expectancy
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions 
Table 2: Kyrgyzstani Insurance - Overall Written Premium by Segment (KGS Million), 2008-2012 
Table 3: Kyrgyzstani Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012 
Table 4: Kyrgyzstani Insurance - Overall Written Premium by Segment (KGS Million), 2012-2017 
Table 5: Kyrgyzstani Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017 
Table 6: Kyrgyzstani Insurance - Segmentation (Percentage Share), 2008-2017 
Table 7: Ongoing Infrastructure Development Projects in Kyrgyzstan 
Table 8: Kyrgyzstani Life Insurance - Written Premium (KGS Million), 2008-2012 
Table 9: Kyrgyzstani Life Insurance - Written Premium (KGS Million), 2012-2017 
Table 10: Kyrgyzstani Life Insurance - Paid Claims (KGS Million), 2008-2012 
Table 11: Kyrgyzstani Life Insurance - Paid Claims (KGS Million), 2012-2017 
Table 12: Kyrgyzstani Life Insurance - Incurred Loss (KGS Million), 2008-2012 
Table 13: Kyrgyzstani Life Insurance - Incurred Loss (KGS Million), 2012-2017 
Table 14: Kyrgyzstani Life Insurance - Loss Ratio (%), 2008-2012 
Table 15: Kyrgyzstani Life Insurance - Loss Ratio (%), 2012-2017 
Table 16: Kyrgyzstani Life Insurance - Combined Ratio (%), 2008-2012 
Table 17: Kyrgyzstani Life Insurance - Combined Ratio (%), 2012-2017 
Table 18: Kyrgyzstani Life Insurance - Total Assets (KGS Million), 2008-2012 
Table 19: Kyrgyzstani Life Insurance - Total Assets (KGS Million), 2012-2017 
Table 20: Kyrgyzstani Life Insurance - Retentions (KGS Million), 2008-2012 
Table 21: Kyrgyzstani Life Insurance - Retentions (KGS Million), 2012-2017 
Table 22: Kyrgyzstani Non-Life Insurance - Written Premium by Category (KGS Million), 2008-2012 
Table 23: Kyrgyzstani Non-Life Insurance - Written Premium by Category (US$ Million), 2008-2012 
Table 24: Kyrgyzstani Non-Life Insurance - Written Premium by Category (KGS Million), 2012-2017 
Table 25: Kyrgyzstani Non-Life Insurance - Written Premium by Category (US$ Million), 2012-2017 
Table 26: Kyrgyzstani Non-Life Insurance - Paid Claims (KGS Million), 2008-2012 
Table 27: Kyrgyzstani Non-Life Insurance - Paid Claims (KGS Million), 2012-2017 
Table 28: Kyrgyzstani Non-Life Insurance - Incurred Loss (KGS Million), 2008-2012 
Table 29: Kyrgyzstani Non-Life Insurance - Incurred Loss (KGS Million), 2012-2017 
Table 30: Kyrgyzstani Non-Life Insurance - Loss Ratio (%), 2008-2012 
Table 31: Kyrgyzstani Non-Life Insurance - Loss Ratio (%), 2012-2017 
Table 32: Kyrgyzstani Non-Life Insurance - Combined Ratio (%), 2008-2012 
Table 33: Kyrgyzstani Non-Life Insurance - Combined Ratio (%), 2012-2017 
Table 34: Kyrgyzstani Non-Life Insurance - Total Assets (KGS Million), 2008-2012 
Table 35: Kyrgyzstani Non-Life Insurance - Total Assets (KGS Million), 2012-2017 
Table 36: Kyrgyzstani Non-Life Insurance - Retentions (KGS Million), 2008-2012 
Table 37: Kyrgyzstani Non-Life Insurance - Retentions (KGS Million), 2012-2017 
Table 38: Kyrgyzstani Property Insurance - Written Premium (KGS Million), 2008-2012 
Table 39: Kyrgyzstani Property Insurance - Written Premium (KGS Million), 2012-2017 
Table 40: Kyrgyzstani Motor Insurance - Written Premium (KGS Million), 2008-2012 
Table 41: Kyrgyzstani Motor Insurance - Written Premium (KGS Million), 2012-2017 
Table 42: Kyrgyzstani Liability Insurance - Written Premium (KGS Million), 2008-2012 
Table 43: Kyrgyzstani Liability Insurance - Written Premium (KGS Million), 2012-2017 
Table 44: Kyrgyzstani Marine, Aviation and Transit Insurance - Written Premium (KGS Million), 2008-2012 
Table 45: Kyrgyzstani Marine, Aviation and Transit Insurance - Written Premium (KGS Million), 2012-2017 
Table 46: Kyrgyzstani Persol Accident and Health Insurance - Written Premium (KGS Million), 2008-2012 
Table 47: Kyrgyzstani Persol Accident and Health Insurance - Written Premium (KGS Million), 2012-2017 
Table 48: Kyrgyzstani Persol Accident and Health Insurance - Paid Claims (KGS Million), 2008-2012 
Table 49: Kyrgyzstani Persol Accident and Health Insurance - Paid Claims (KGS Million), 2012-2017 
Table 50: Kyrgyzstani Persol Accident and Health Insurance - Incurred Loss (KGS Million), 2008-2012 
Table 51: Kyrgyzstani Persol Accident and Health Insurance - Incurred Loss (KGS Million), 2012-2017 
Table 52: Kyrgyzstani Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012 
Table 53: Kyrgyzstani Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017 
Table 54: Kyrgyzstani Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012 
Table 55: Kyrgyzstani Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017 
Table 56: Kyrgyzstani Persol Accident and Health Insurance - Total Assets (KGS Million), 2008-2012 
Table 57: Kyrgyzstani Persol Accident and Health Insurance - Total Assets (KGS Million), 2012-2017 
Table 58: Kyrgyzstani Persol Accident and Health Insurance - Retentions (KGS Million), 2008-2012 
Table 59: Kyrgyzstani Persol Accident and Health Insurance - Retentions (KGS Million), 2012-2017 
Table 60: Kyrgyzstani Reinsurance Ceded by Insurance Segment (KGS Million), 2008-2012 
Table 61: Kyrgyzstani Reinsurance Ceded by Insurance Segment (US$ Million), 2008-2012 
Table 62: Kyrgyzstani Reinsurance Ceded by Insurance Segment (KGS Million), 2012-2017 
Table 63: Kyrgyzstani Reinsurance Ceded by Insurance Segment (US$ Million), 2012-2017 
Table 64: Kyrgyzstani Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012 
Table 65: Kyrgyzstani Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017 
Table 66: Kyrgyzstani Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012 
Table 67: Kyrgyzstani Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017 
Table 68: Kyrgyzstani Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012 
Table 69: Kyrgyzstani Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017 
Table 70: List of Insurance Companies