The assets of Kazakhstani insurance companies continue to show positive dynamics and by early December have exceeded the milestone of one trillion tenge - 1,004.8 billion tenge for the first time. The increase as of November amounted to 14.4 billion tenge, while the growth for 11 months of 2018 amounted to 79.5 billion tenge.
Source: NBK
The total insurance reserves of the sector as of November increased by 9.4 billion tenge up to 484.8 billion tenge, and the increase from the year beginning amounted to 24.2 billion tenge or 5.3%. Note that insurance reserves account for 90.4% of all sector liabilities.
The equity capital of insurance companies continues to grow in contrast to capitalization of profits. Thus, the equity capital of insurance companies as of year beginning has increased by 13.7% to 468.2 billion tenge, while the charter capital has grown only by 4.0% to 233.4 billion tenge. The leader in the equity capital increase is Eurasia Insurance Company - +31.0% to 143.3 billion tenge.
The total volume of attracted insurance premiums as of November has increased by 29.4 billion tenge to 347.1 billion tenge. Compared to 11 months of 2017, the amount of premiums has decreased by 5.7%. 82.4 billion tenge of premiums were transferred for reinsurance, whereas a year earlier, this amount was 124.1 billion tenge. Thus, this year the net amount of insurance premiums is 20.5% higher and amounts to 264.7 billion tenge. The voluntary private insurance fees are growing, +23.2 billion tenge, and premiums on voluntary property insurance are falling, -23.8 billion tenge.
Source: NBK
For 11 months of 2018, the total amount of insurance payments amounted to 83.0 billion tenge, which is 4.9% more than the volume of payments for the same period last year. Taking into account payments on insurance premiums transferred for reinsurance, the net amount of insurance payments amounted to 74.2 billion tenge, which is 9.7% more compared to the previous year. In 2018, payments on voluntary types of private insurance (-8.2%) and compulsory types of insurance (-9.2%) decreased, but payments on voluntary property insurance (+42.3%) increased markedly.
According to the results of 11 months of 2018, the net profit of the insurance sector has amounted to 78.8 billion tenge, which is 27.3 billion tenge more compared to the same period last year. The sector’s ROAA indicator has improved from 5.8% to 8.0%, and the ROAE indicator has increased from 12.5% to 17.9%. The net profit of the sector for the year 2017 amounted to 57.4 billion tenge. In the meantime, the sector's revenues from its core business increased by 3.5% to 252.4 billion tenge, while income from investment activities increased by 42.3% to 78.4 billion tenge. The total expenses of insurance companies increased by only 1.7% up to 243.6 billion tenge (excluding CIT).
Photos: Sravni.ru
