Insurance companies want to oblige companies to pay 0.5% of CMTPL payments to the Financial Supervision Authority

The Ministry of Economy has published a draft resolution on its public discussion website, proposing to oblige insurance companies in Kyrgyzstan to transfer 0.5% of insurance premiums to the authorised body, the Financial Market Regulation and Supervision Service.

According to the document, the amount of mandatory contributions will be 0.5% of the insurance premiums collected for compulsory insurance (including compulsory motor third-party liability insurance). According to the Ministry of Finance, in 2024, the total amount of insurance premiums was 5.2 billion KGS, of which almost 870 million came from compulsory insurance. Thus, annual revenues to the Financial Supervision Service budget could amount to about 4.3 million KGS.

It should be noted that according to the draft republican budget for 2026, the Financial Market Regulation and Supervision Service has been allocated 2.3 million KGS, which is 1 million KGS less than the amount allocated to the agency in 2025. From this perspective, the amount of funds allocated is almost half the amount that the service would receive if the bill were passed.