For Investors

OJSC “State Insurance Organisation” (SIO) is the state-owned insurance company of the Kyrgyz Republic. Its sole shareholder is the state, with shareholder powers exercised by the Administrative Directorate of the President of the Kyrgyz Republic. The company has operated on the insurance market since 2016 under open-ended licences issued by the Financial Market Regulation and Supervision Service.

For an investor this means a partner with a transparent ownership structure and predictable conduct across the whole life of a project — from construction to operation.

SIO covers both insurance tasks of an investment project in Kyrgyzstan: meeting mandatory statutory requirements, and voluntary protection of the capital invested — property, liability, cargo and personnel.

Several classes of insurance are mandatory in the Kyrgyz Republic: without valid policies a company cannot operate hazardous production facilities, hire staff or carry out transportation. The full set of mandatory classes can be arranged with a single insurer, on a single renewal date and through one account manager:

• OSGOR — employer’s liability for harm to an employee’s life and health in the course of their duties;
• OSGOOPO — liability of organisations operating hazardous production facilities;
• OSZH — mandatory insurance of residential premises against fire and natural disasters;
• OSAGO — motor third-party liability, including corporate fleets;
• OSGOP — carrier’s liability to passengers;
• OSGOPOG — liability of carriers of dangerous goods.

Voluntary classes cover the exposures that mandatory policies leave open: damage to and loss of assets, third-party claims, losses in transit, and personnel-related costs.

• Property insurance — corporate property against fire and other perils, including pledged and leased assets;
• General liability and cargo insurance — voluntary civil liability and goods in transit;
• Motor own damage, Extra and Econom — project vehicles and special machinery;
• Personal accident, medical insurance and travel insurance — cover for personnel;
• Takaful products — Sharia-compliant protection for investors operating on Islamic finance principles.

Terms, limits and pricing for each product are set out in the Insurance products section. For large or non-standard risks the programme is structured individually.

By Order of the Cabinet of Ministers of the Kyrgyz Republic No. 459-r of 30 July 2024, SIO was designated the national reinsurance operator of the Kyrgyz Republic — including for export credits, export-oriented production and investment of the member states of the Eurasian Economic Union, in cooperation with the Eurasian Reinsurance Company.

In this capacity the company handles exposures that matter for cross-border investment: non-payment by foreign counterparties, commercial and political risks in trade and investment between EAEU states, and support for exports of jointly manufactured goods. The voluntary liability licence was extended to cover “voluntary civil liability insurance of a resident under an export contract” (Financial Supervision Service order No. 563-p of 24 October 2024).

Large and complex risks are underwritten with part of the exposure placed with foreign reinsurers, which allows obligations to be met even after major loss events. More detail is available in the International cooperation section.

SIO is supervised by the Financial Market Regulation and Supervision Service under the Ministry of Economy and Commerce of the Kyrgyz Republic. All company licences are open-ended and listed as active in the regulator’s registers: see Official licences for the full list and Key figures for company and market indicators.

To quote an insurance programme for a specific project we need a description of the assets, the planned works and the required liability limits. Head office: 1 Ch. Aitmatov Avenue, building 2, Bishkek. Hotline +996 (312) 65-08-53, e-mail info@gso.kg, working hours Monday to Friday, 9:00–18:00. Branches operate in every region of the country — see Branches.