Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets has launched a request for expressions of interest for consultancy services to advise on the development and phased implementation of a reinsurance programme strategy under the World Bank-financed “Building Resilience to Disaster Risks in Kyrgyzstan” project. The assignment, implemented with OJSC “State Insurance Organization”, targets Component 3 on improving financial protection and insurance against natural disaster risks. The consultancy is intended to support the Government, the State Insurance Organization and a potential insurance pool in designing a financially sound and fit-for-purpose reinsurance strategy for the compulsory insurance of residential buildings against natural disasters. The stated objectives include meeting solvency requirements, protecting the insurance system’s capital from extreme losses, reducing reliance on emergency budget transfers and indirect state guarantees, and lowering fiscal risks from large-scale disasters; the budget ceiling is USD 135,000 (excluding taxes). Minimum eligibility requirements at the expressions of interest stage include at least two similar reinsurance strategy projects delivered in the past five years, experience engaging with government agencies, financial regulators or state insurers, and at least two projects involving analytical and methodological work such as assessing reinsurance structures, preparing market engagement materials and developing institutional or operational frameworks for purchasing and implementing reinsurance. Expressions of interest are due by 6 March 2026 (17:00 local time), with the most qualified firm to be invited to submit a technical and financial proposal; key talent is not assessed at this stage. Selection will follow the World Bank’s Consultant Qualifications Selection method, with the assignment scheduled to start in April 2026 for seven months after contract signing plus a further 12 months of advisory support after completion of the main contract.
State Service for Regulation and Supervision of Financial Markets 2026-03-03
Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets issues USD 135,000 request for expressions of interest to develop a reinsurance programme for compulsory disaster home insurance
The Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets seeks consultancy services to develop a reinsurance strategy under the World Bank's "Building Resilience to Disaster Risks in Kyrgyzstan" project. The goal is to enhance financial protection against natural disasters for compulsory residential building insurance, with a budget ceiling of USD 135,000. The consultancy requires experience in reinsurance strategy projects and engagement with government or financial entities.