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State Insurance Organization of Kyrgyzstan incurs losses of 24 million soms

The Accounting Chamber of Kyrgyzstan audited the activities of the State Insurance Organization OJSC for 2016.

According to the Accounting Chamber, the loss of the company in 2016 amounted to 24,347.8 million soms with a planned net profit of 65.8 million soms.

Although, according to the budget plan for 2016, approved at the annual general meeting of shareholders, the revenues of the State Insurance Company were planned in the amount of 322.5 million soms, and expenditures — 256.7 million soms.

For the audited period, the fulfillment of the income plan made up only 4.3 percent, expenditures plan — 14.9 percent, or expenses exceeded the revenue part by 10.6 percent.

Deputies of the Parliament intend to attract private companies to housing insurance and provide a fine for those who refuse to insure housing.

In rural areas, the premium amount is only 600 soms per year, and the payment in case of an insured event is up to 500,000. In cities, the premium amount is 1,200 soms a year; the responsibility is up to 1 million soms.