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UAPF paid 18 billion tenge to life insurance companies

The press service of the Unified Accumulative Pension Fund published the work results as of first month of 2020. According to UAPF, as of February 1 there is a positive growth dynamics for all the main indicators in comparison with the same period last year.
UAPF paid 18 billion tenge to life insurance companies

Thus, pension savings increased by 97 billion tenge as of January. “86.7 billion tenge was received in the form of contributions, this figure is 22% higher than the index as of 2019. Net investment income credited to the accounts of UAPF depositors made 28.2 billion tenge as of year beginning,” the organization’s press service informed.

The payments and transfers to insurance companies to more than 146 thousand recipients amounted to 17.9 billion tenge.

It was reported earlier that total gross premiums of LICs increased by 51.7% reaching 18.2 billion tenge as of January 2020 compared to the same index as of 2019. Growth rates in premiums of the main life insurance segments remain high. Annuity insurance and retirement annuities showed a dynamics of 55.5% and 67.3%, respectively. In terms of revenue, however, life insurance is leading having collected 7.5 billion tenge of premiums (an increase of 46.6%, year-on-year). According to results as of January 2020, life insurance occupies 41.4% in the aggregate premiums of LICs maintaining its position in relation to January 2019 with the share of 42.8% of total premiums.

Photos are from open sources.  

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