bs-preloader__icon
ru kz en

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
News
The life insurance sector in Kazakhstan is growing at an outperforming rate – Financial Institutions’ Association of Kazakhstan (FIAK)
AM Best confirmed the financial strength rating at B+ level to Halyk-Life
Expert opinion
Tokayev is concerned about vulnerability of Kazakhstani people in front of financial pyramids
Aviva is actively negotiating the sale of Italian life insurance business
A bubble is brewing in the SME and mortgage market
Pension Fund of Russia, the Social Insurance Fund of the Russian Federation and the Compulsory Medical Insurance Fund can be merged
News
UK insurers are to pay £2.5bn on Covid-19 risk

The 2020 Covid-19 risk claims received by UK insurance companies are valued at £2.5bn, and the amount on business interruption risk is £2bn.

The life insurance sector in Kazakhstan is growing at an outperforming rate – Financial Institutions’ Association of Kazakhstan (FIAK)

The life insurance sector is growing at an outperforming rate. Thus, the assets of LICs in 2020 increased by 37.7%, the press service of the Financial Institutions’ Association of Kazakhstan reported.

Who needs a retirement annuity?

Life insurance annuity is a saving tool that gives its owner a guaranteed income at the advanced age. Below we share to whom this product will do.

Moody's has published its opinion on Kazakhstan

The state's credit rating is estimated at Baa3 with a positive outlook. According to the agency, the rating of Kazakhstan corresponds to the pre-pandemic indicators, LS reports.

The pandemic taught Russians how to save money

The share of Russians with savings has grown over the year, according to a survey conducted by Rosgosstrakh Zhizn and Otkritie Bank. Men save money more often than women. Zoomers and retirees save up more often than representatives of other generations, according to the press service of the insurer.

AM Best confirmed the financial strength rating at B+ level to Halyk-Life

The financial strength rating of Halyk-Life was confirmed at B+ level and long-term credit rating of the issuer at bbb- level. The outlook for the ratings is "Positive", according to the press service of the life insurance company.

What companies get access to retirement money

Deputy Chairman of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) Maria Khadzhiyeva spoke about the requirements for management companies, under control of which part of the pension savings of Kazakhstanis can be transferred. During the online briefing, the criteria by which the regulator selects management companies were announced, as well as the list of financial instruments allowed to be acquired from citizens' savings.

Tokayev is concerned about vulnerability of Kazakhstani people in front of financial pyramids

The President Kassym-Jomart Tokayev requested law enforcement agencies to fight financial pyramids, reports LS with reference to Akorda.

Aviva is actively negotiating the sale of Italian life insurance business

The British insurance company Aviva and the French CNP Assurances are actively negotiating the sale of Aviva's life insurance divisions in Italy. The Internet resource UkrStrakhovanie learnt this from the Bloomberg message.

A bubble is brewing in the SME and mortgage market

The average annual tenge exchange rate will be at the level of 432.8 units, while consumer inflation will slow down and amount to 6.5%. This forecast was shared by AERC analysts, reports LS.

Pension Fund of Russia, the Social Insurance Fund of the Russian Federation and the Compulsory Medical Insurance Fund can be merged

The Pension Fund of Russia (PFR), the Social Insurance Fund of the Russian Federation (SIF) and the Compulsory Medical Insurance Fund (CMIF) may be merged as part of a large-scale reform.

S&P: LICs are on the rise

Thanks to changes in legislation, the life insurance companies (LICs) can significantly expand the range of their services this year. Thus, in particular, the age of potential clients for concluding a deferred retirement annuity agreement was reduced, and so was the amount of savings sufficient to conclude a deferred annuity retirement agreement.

Four ways: what the retirement money can also be spent for

There are several ways to use part of pension savings ahead of schedule in Kazakhstan. LS prepared an overview of each of them.

What does retirement annuity give to its owner?

As of January 2021, the pension provision amendments will allow Kazakhstanis to retire earlier than the time limit set by the state. People can purchase a deferred retirement annuity with deferred payments at the age of 45. The amount of pension savings for concluding a retirement annuity agreement has been significantly reduced. Kursiv collected expert opinions and instructions on early retirement.

Favorites
Expert opinion

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application