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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Turkmenistan non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Turkmenistan's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Turkmenistan non-life (P&C) market as well as trends by line of business. Axco analysts also report on Turkmenistan's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Turkmenistan's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Turkmenistan, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Turkmenistan, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Turkmenistan with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
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 MAT classes, while Turkmen Gosstrakh, which was a branch of the Soviet Gosstrakh network, wrote any internal, domestic risks.
After the collapse of the Soviet Union in 1991, the insurance market ....
This is a brief extract of information; more updated information may be available in the latest published report.