Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Turkmenistan Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Turkmenistan includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
5.00 mn (2011)
Turkmenistan is a country bordering the Caspian Sea and largely covered by the Karakum Desert. The economy is dominated by the oil and gas industries.
The insurance market is one of the smallest and least developed in the world. In 2009 gross market premium income was equivalent to USD 44.81mn.
The only insurer licensed to operate in Turkmenistan is Turkmen Gosstrakh, which is 100% state-owned.