Market Research Logo

The Insurance Industry in Turkmenistan, Key Trends and Opportunities to 2018

The Insurance Industry in Turkmenistan, Key Trends and Opportunities to 2018

Synopsis

Timetric’s ' The Insurance Industry in Turkmenistan, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Turkmen insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary

The report provides in-depth market analysis, information and insights into the Turkmen insurance industry, including:

  • The Turkmen insurance industry's growth prospects by segment and category
  • Key trends, drivers and challenges in the Turkmen insurance industry
  • The detailed competitive landscape in the Turkmen insurance industry
  • Detailed regulatory policies of the Turkmen insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Turkmenistan:
  • It provides historical values for the Turkmen insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key segments in the Turkmen insurance industry, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Turkmenistan and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Turkmen insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Turkmen insurance industry.
  • Assess the competitive dynamics in the Turkmen insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Turkmen insurance industry and their impact on companies and the industry's future.
Key Highlights
  • The Turkmen insurance industry grew in terms of gross written premium at a review-period CAGR of 11.0%.
  • Mandatory insurance policies launched in 2015 are expected to support the industry growth.
  • Compulsory third-party civil liability insurance of motor vehicles is expected to spur growth in motor insurance segment.
  • The non-life segment accounted for a 74.1% of the industry’s gross written premium in 2013.
  • The insurance industry in Turkmenistan is regulated by the Ministry of Finance (MoF), with The State Insurance Organization of Turkmenistan (SIOT).
  • SIOT is the only insurance provider in the country.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Turkmen Insurance Industry Overview
    • Turkmen Insurance Industry
      • Table Turkmen Insurance - Gross Written Premium by Segment (TMT Million), 2009-2013
      • Table Turkmen Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
      • Table Turkmen Insurance - Gross Written Premium by Segment (TMT Million), 2013-2018
      • Table Turkmen Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
      • Table Turkmen Insurance - Segmentation by Gross Written Premium (Percentage Share), 2009-2018
      • Table Turkmen Insurance - Direct Written Premium by Segment (TMT Million), 2009-2013
      • Table Turkmen Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
      • Table Turkmen Insurance - Direct Written Premium by Segment (TMT Million), 2013-2018
      • Table Turkmen Insurance - Direct Written Premium by Segment (US$ Million), 2013-2018
      • Table Turkmen Insurance - Segmentation by Direct Written Premium (Percentage Share), 2009-2018
  • Industry Segmentation
    • Life Insurance
      • Table Turkmen Life Insurance - Gross Written Premium (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Gross Written Premium (TMT Million), 2013-2018
      • Table Turkmen Life Insurance - Direct Written Premium (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Direct Written Premium (TMT Million), 2013-2018
      • Table Turkmen Life Insurance - Earned Premium (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Earned Premium (TMT Million), 2013-2018
      • Table Turkmen Life Insurance - Paid Claims (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Paid Claims (TMT Million), 2013-2018
      • Table Turkmen Life Insurance - Incurred Loss (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Incurred Loss (TMT Million), 2013-2018
      • Table Turkmen Life Insurance - Loss Ratio (%), 2009-2013
      • Table Turkmen Life Insurance - Loss Ratio (%), 2013-2018
      • Table Turkmen Life Insurance - Combined Ratio (%), 2009-2013
      • Table Turkmen Life Insurance - Combined Ratio (%), 2013-2018
      • Table Turkmen Life Insurance - Retentions (TMT Million), 2009-2013
      • Table Turkmen Life Insurance - Retentions (TMT Million), 2013-2018
    • Non-Life Insurance
      • Table Turkmen Non-Life Insurance - Gross Written Premium by Category (TMT Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Gross Written Premium by Category (TMT Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Direct Written Premium by Category (TMT Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Direct Written Premium by Category (TMT Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Paid Claims (TMT Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Paid Claims (TMT Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Incurred Loss (TMT Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Incurred Loss (TMT Million), 2013-2018
      • Table Turkmen Non-Life Insurance - Loss Ratio (%), 2009-2013
      • Table Turkmen Non-Life Insurance - Loss Ratio (%), 2013-2018
      • Table Turkmen Non-Life Insurance - Combined Ratio (%), 2009-2013
      • Table Turkmen Non-Life Insurance - Combined Ratio (%), 2013-2018
      • Table Turkmen Non-Life Insurance - Retentions (TMT Million), 2009-2013
      • Table Turkmen Non-Life Insurance - Retentions (TMT Million), 2013-2018
      • Property insurance
        • Table Turkmen Property Insurance - Gross Written Premium (TMT Million), 2009-2013
        • Table Turkmen Property Insurance - Gross Written Premium (TMT Million), 2013-2018
      • Motor insurance
        • Table Turkmen Motor Insurance - Gross Written Premium (TMT Million), 2009-2013
        • Table Turkmen Motor Insurance - Gross Written Premium (TMT Million), 2013-2018
      • Liability insurance
        • Table Turkmen Liability Insurance - Gross Written Premium (TMT Million), 2009-2013
        • Table Turkmen Liability Insurance - Gross Written Premium (TMT Million), 2013-2018
      • Marine, aviation and transit insurance
        • Table Turkmen Marine, Aviation and Transit Insurance - Gross Written Premium (TMT Million), 2009-2013
        • Table Turkmen Marine, Aviation and Transit Insurance - Gross Written Premium (TMT Million), 2013-2018
    • Personal Accident and Health Insurance
      • Table Turkmen Personal Accident and Health Insurance - Gross Written Premium (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Gross Written Premium (TMT Million), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Direct Written Premium (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Direct Written Premium (TMT Million), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Earned Premium (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Earned Premium (TMT Million), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Paid Claim (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Paid Claim (TMT Million), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Incurred Loss (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Incurred Loss (TMT Million), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Retentions (TMT Million), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Retentions (TMT Million), 2013-2018
    • Reinsurance
      • Table Turkmen Reinsurance - Ceded by Insurance Segment (TMT Million), 2009-2013
      • Table Turkmen Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
      • Table Turkmen Reinsurance - Ceded by Insurance Segment (TMT Million), 2013-2018
      • Table Turkmen Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
      • Table Turkmen Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Turkmen Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
      • Table Turkmen Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Turkmen Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
      • Table Turkmen Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Turkmen Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
  • Governance, Risk and Compliance
    • Legislation Overview and Historical Evolution
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Turkmenistan - Life Insurance Regulatory Framework
      • Property insurance
        • Table Turkmenistan - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Turkmenistan - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Turkmenistan - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Personal insurance for accidents and occupational diseases of workers employed in high-risk manufacture
      • Government insurance for passengers of all types of transportation, flight crews and employees of railway, seaway, inland waterway and automobile transports
    • Supervision and Control
      • The State Insurance Organization of Turkmenistan (Turkmen Gosstrakh)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Turkmenistan - Corporate Tax Rates for the Financial Year 2014
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Competitive Landscape
    • Table The State Insurance Organization of Turkmenistan - Products
  • Economic Indicators
    • GDP at Constant Prices (US$)
    • GDP at Current Prices (US$)
    • GDP per Capita at Current Prices (US$)
    • Inflation
    • Life Expectancy
    • Labor Force
    • Unemployment Rate
    • Total Number of Internet Users
    • Urban and Rural Populations
    • Total Population
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report