11:43, 10 октября 2025, Bishkek - 24-kg.com news agency , Turdubek AIGYROV
The Cabinet of Ministers of Kyrgyzstan approved new rules for participants in the insurance market. Now, the heads of insurance and reinsurance companies, as well as insurance brokers, actuaries, appraisers, surveyors, and adjusters, are required to meet updated qualification requirements.
The government explained that only specialists with relevant education, proven work experience, and a clean criminal record will be allowed to manage an insurance company. Mandatory registration in the register has been introduced for brokers, and new standards for calculating insurance rates have been introduced for actuaries. Similar requirements have been introduced for experts assessing damage and risks.
Furthermore, the procedure for appointing temporary administrations to troubled insurance companies has been amended, granting them expanded powers to manage assets and liabilities.
Simultaneously, more than ten old government decrees have been repealed to eliminate duplication and inconsistencies in industry regulation.
The document will come into force in ten days.