2015 — the company is founded
The State Insurance Organization was established by Resolution of the Government of the Kyrgyz Republic No. 883 of 28 December 2015. The founder and sole shareholder was the state: the shareholder’s rights on its behalf were exercised by the State Property Management Fund under the Government of the Kyrgyz Republic.
The company was created for a specific public task — to make compulsory housing insurance work, introduced by the Law "On Compulsory Insurance of Residential Premises against Fire and Natural Disasters" No. 209 of 31 July 2015. A country with high seismic and natural exposure needed a state-backed insurer able to carry that risk nationwide.
2016 — start of operations
The company was registered and entered the insurance market. Its first line of business was compulsory insurance of homes against fire and natural disasters.
2016–2023 — a wider portfolio and network
Compulsory liability classes were added to housing cover — carrier’s liability to passengers, employer’s liability to employees, the liability of operators of hazardous production facilities and of carriers of dangerous goods — together with voluntary property and motor insurance. The branch network came to cover every region of the country.
2024 — national reinsurance operator
By Order of the Cabinet of Ministers No. 459-r of 30 July 2024, SIO was designated the national reinsurance operator of the Kyrgyz Republic. The company began working on export credits and export-oriented financing and on protection against commercial and political risks in trade and investment among the EAEU states, cooperating with the Eurasian Reinsurance Company.
2025 — a new insurance legal framework
On 24 April 2025 a law amending several legislative acts was signed, strengthening the compulsory nature of housing and motor liability insurance, including at the point of registering rights to real estate. On 29 April 2025 the Law "On Insurance and Insurance Activities" No. 89 was adopted, and on 31 July 2025 the Digital Code of the Kyrgyz Republic No. 178. Together they provided the legal basis for concluding insurance contracts electronically and using an electronic digital signature.
2026 — digitalisation and a new shareholder
The company moved policy issuance into an automated information system and launched online services: applying for a policy, electronic identification, signing documents with an electronic digital signature, payment and issuing an electronic policy. Takaful products were added — Islamic equivalents of property, motor and travel cover — along with insurance for tourists entering the country. By Presidential Decree of 31 March 2026 the shareholder’s powers were transferred to the Presidential Administration Affairs Department.
Where the company stands
SIO is a composite insurer: motor cover is only one of its lines. The company insures homes and property, the liability of businesses and entrepreneurs, cargo, life and health, trips abroad and visits to the country, offers a range of takaful products and acts as the national reinsurance operator.
According to the company, the Kyrgyz insurance market has grown almost fourfold in two years, while SIO’s own figures have risen 12.5 times. Among the compulsory classes, its share of the motor third-party liability market is about 35%, and compulsory housing insurance covers roughly 30% of the country’s housing stock.
Today SIO offers 18 insurance products — compulsory and voluntary, conventional and takaful — operates in every region and continues to develop remote service channels. The current list is in the Insurance products section.