Business results of “Kyrgyzinstrakh” CJSIC for 2016

Business results of “Kyrgyzinstrakh” CJSIC for 2016

By the end of 2016 leader of ratings "Kyrgyzinstrakh" CJCIS traditionally occupied a leading position in the insurance market of the Kyrgyz Republic.

Upon the results of 2016, the total amount of collected insurance premiums made up 446.4 million KGS that is in total received insurance payments among the 19 insurance companies of the Kyrgyz Republic.

During the reporting period, the company has concluded about 6 thousand of insurance contracts on mandatory and voluntary kinds of insurance.

- Property insurance - 378.4 million KGS (85%).

- Liability insurance - 18.0 million KGS (4%).

- Personal insurance - 8.4 million KGS (2%).

- Mandatory insurance - 41.6 million KGS (9%).

Fulfillment of its obligations in relation to customers confirms the high solvency of the organization, an effective system of risk reinsurance and competent management, implemented in the company.

Security level of the insurance portfolio made up 86.7% by means of risks assignment to reinsurance for the ensuring solvency and financial sustainability of the company.

“Kyrgyzinstrakh” IJSC carries out accepted commitments in relation to its clients in a timely manner. Thus the company accomplished payments of insurance indemnifies to the amount of 20.1 million KGS for the year 2015, including:

- in personal insurance: 2.8 million KGS.

- in property insurance: 16.9 million KGS.

- in liability insurance: 0.4 million KGS.

 “Kyrgyzinstrakh” IJSC holds rather active existential position in development of insurance filed of the country. Thus, our company assigned about 27.1 million KGS to the state budget in 2016 as taxes.

 “Kyrgyzinstrakh” IJSC is Kyrgyz legal entity, joint venture with “Ingosstrakh” Insurance Company (Moscow, Russia), as well as a member of “INGO” International Insurance Group. At the moment, the Group includes 12 companies, such as: “Ingosstrakh” IPJSC (Russia); "INGO Uzbekistan" IJSC (Uzbekistan), “Ingosstrakh” CIJSC (Belarus); "Ingo Armenia" CIJSC (Armenia) and others. Aggregate capital of the “ONGO” Group is over 1 billion US dollars.