Published
08/13/2025, 13:55The country is preparing amendments to the insurance law that could significantly expand the range of insurance services available. The draft resolution of the Cabinet of Ministers proposes introducing three new types of insurance: compulsory insurance, annuity insurance and insurance based on Islamic principles.
Imputed insurance is something between compulsory and voluntary insurance. The law will require certain companies and entrepreneurs to have insurance, but all the details — cost, list of risks, payment terms — will be specified by the parties themselves in the contract.
This approach is already in place in the EAEU countries. In Kyrgyzstan, it could apply, for example, to real estate agents, tour operators, appraisers, actuaries, and those who work with increased risks to health, life or property.
Annuity insurance is a good option for people thinking about their future income. You pay insurance premiums and then get guaranteed regular payments, either for a set period or for the rest of your life. This is often chosen for financial stability in retirement.
In other words, annuity insurance is an investment tool that combines insurance protection with a guaranteed regular income.
It is also proposed to introduce the concept of insurance based on Islamic principles. Such insurance is based on the principles of justice, mutual assistance and solidarity, without elements that are considered unacceptable under Sharia law. The main model is takaful, where participants contribute to a common fund and help each other in the event of losses. This can be life, health or property insurance.
The draft is currently under public discussion and, if adopted, new types of insurance could appear in the coming years.
