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The Insurance Industry in Turkmenistan, Key Trends and Opportunities to 2017

Turkmenistan insurance market: 15% CAGR between 2012-2017


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2014-02-18 05:34:03 - The Insurance Industry in Turkmenistan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

The Turkmen insurance industry is very small, both in terms of size and significance. Insurance penetration stood at just 0.2% in 2012, compared to the global average of 6.7%. The industry achieved significant written premium value growth during the review period, recording a CAGR of 20.2%. This was due to robust economic development and the increased demand for non-life products. These factors coupled with new legislation are expected to drive the industry over the forecast period at a CAGR of 15.5%.

Key Highlights

• Turkmen providers tend to retain a large proportion of their revenues and cede less to reinsurance providers

• The retention rate of life insurance providers stood at 97%

• The industry registered significant growth during the review period

• The growth

 

 

was partly a consequence of a favorable regulatory framework and robust economic development

• The property and assets of overseas institutions need to be insured by the State Insurance Company of Turkmenistan, the sole insurance provider. This fuelled the demand for insurance in the country

• The new Insurance Act has also allowed multinationals to own up to a 49% stake in domestic companies

Report Scope

This report provides a comprehensive analysis of the insurance industry in Turkmenistan:

• It provides historical values for the Turkmenistan insurance industry for the reports 2008–2012 review period and forecast figures for the 2012–2017 forecast period
• It offers a detailed analysis of the key segments and categories in the Turkmenistan insurance industry, along with industry forecasts until 2017
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
• It outlines the key regulations affecting them

Reasons to Buy

• Make strategic business decisions using in depth historic and forecast industry data related to the Turkmenistan insurance industry and each segment within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Turkmenistan insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Turkmenistan insurance industry and its impact on companies and the industrys future

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Mike King
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