Representatives of 16 insurance organizations discussed common rules and ways to enhance financial stability.
A meeting took place in Bishkek, where representatives of 16 insurance companies from Kyrgyzstan gathered to discuss the prospects for the development of the reinsurance market.
Reinsurance involves transferring part of the risks from one insurance company to another, which helps to reduce potential losses.
The event was organized by the State Insurance Organization (GSO) — the national operator in the field of reinsurance. Participants of the meeting addressed existing issues in the market and discussed opportunities for joint growth and strengthening financial stability.
As a result of the discussions, the companies agreed on the need to develop unified internal regulations for reinsurance and to jointly strengthen capital in the industry. The outcomes of the meeting were sent to the Service for Regulation and Supervision of the Financial Market under the Ministry of Economy.
According to experts, such initiatives can significantly enhance the reliability of insurance in Kyrgyzstan and protect companies from substantial losses.
Photo by the press service of the State Insurance Organization
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