Turkmenistan Is Optimizing Its Compulsory State Insurance System
Turkmenistan is preparing a large-scale modernization of its insurance market regulatory framework. Deputy Prime Minister Khodjamyrat Geldimyradov reported on measures to improve the compulsory state insurance system at a Cabinet of Ministers meeting on Saturday.
Financial sector reform entered practical action following the adoption of the Law of Turkmenistan "On Amendments and Supplements to Certain Legislative Acts" in November 2025. Pursuant to this law, the State Insurance Organization, together with relevant ministries and agencies, has developed a draft new Regulation on State Insurance. This document is intended to systematize and optimize compulsory insurance mechanisms in the country. The new standards are aimed at increasing the financial stability of the insurance sector, protecting the interests of insured persons, and implementing modern regulatory tools. Industry experts note that modernizing the compulsory insurance system (covering areas such as transportation, passenger transportation, environmental risks, and occupational safety and health) is an important step in creating a transparent business environment.
President Serdar Berdimuhamedov emphasized that the systematic development of the insurance market and updating relevant legislation remain pressing economic policy objectives. Having approved the proposals, the head of state instructed the Deputy Prime Minister to take comprehensive measures to further optimize the compulsory state insurance system.
