Life Report

Product Insurance Market Reports Life Rev Turkmenistan

Key Highlights

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  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Turkmenistan's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Turkmenistan's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Turkmenistan

The Turkmenistan life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Turkmenistan.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Turkmenistan and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Turkmenistan’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Turkmenistan is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Turkmenistan; as well as the legislation necessary to know regarding Turkmenistan’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Turkmenistan with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Turkmenistan's market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Turkmenistan, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Turkmenistan's pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Turkmenistan report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Turkmenistan Life and Benefits Report Extract

Below are brief extracts of information from the Turkmenistan Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Before the collapse of the Soviet Union and Turkmenistan's declaration of independence in 1991, two state companies had a monopoly of all insurance business. Ingosstrakh, which operated from Moscow, wrote all reinsurances and insured all international insurances requiring hard currency, principally marine, aviation and transport (MAT) classes, while Turkmen Gosstrakh, which was a branch of the Soviet Gosstrakh network, wrote any internal, domestic risks ....


There are no private pensions providers in Turkmenistan and the only pension available is that provided by the state. Turkmen Gosstrakh does not write any pension business.

The Law on Pensions of 1998 introduced the concept of personal pensions ....


There are no private healthcare providers in Turkmenistan and the only healthcare scheme is that provided by the state. On becoming independent in 1991, Turkmenistan adopted all of the previous Soviet social security legislation, which included the provision of comprehensive free healthcare.

In 1996 voluntary medical insurance was introduced by the state and, by April 2000, government figures showed that 89% of the population including dependants were covered ....

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