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Insurance companies’ assets have grown by 8% as of year, and almost reached 950 billion tenge

More than 40% of assets are concentrated among top-3 largest companies. As of May 2018, the total assets of insurance companies amount to 948.1 billion tenge, which is 7.6% more than a year earlier, 881.5 billion tenge, reports finprom.kz.
Insurance companies’ assets have grown by 8% as of year, and almost reached 950 billion tenge

The absolute leader in terms of assets among all insurance companies is Eurasia Insurance Company with 235.6 billion tenge, which is 17.9% more than 199.9 billion tenge as of pervious year.

Victoria Insurance Company is in the second place with 84.5 billion tenge (76.1 billion tenge a year earlier).

LIC "Nomad Life" is closing the top-3 of the largest insurance companies with assets amount to 71.9 billion tenge, which is 22.8% more than a year ago.

In total, the volume of assets of listed insurance companies is 392 billion tenge, which is 41.3% of all assets.

The volume of insurance funds following assets has also increased to 8.7%, from 444.4 to 483.1 billion tenge. Insurance funds account for 51% of the total assets.

In the ranking of companies, as in case with asset volume, the same order is maintained: Eurasia - 116.2 billion tenge (94.3 billion tenge previous year), Nomad Life - 60.7 billion tenge (50 billion tenge a year earlier) and Halyk Life - 54.4 billion tenge (42.2 billion tenge previous year). The share of insurance reserves of the top three leaders is 47.9% (231.4 billion tenge).

In long-term dynamics, insurance funds grow from year to year. For example, over the past 5 years, their volume has increased more than 2 times, from 209.2 to 482.4 billion tenge. On average, insurance funds grow by 18.4% per year.

Unlike assets and insurance reserves, the profit of companies providing insurance services is quite volatile, and has no measured pattern.

By results for the first five months the year of 2018, insurers have earned 30.8 billion tenge net, which is 2 times more than a year earlier, 15.8 billion tenge. However, the results by the end of May, 2017 in relation to 2016 are opposite; the profit has dropped by 61%, from 40.6 to 15.9 billion tenge.

In total, for the last five-year period, the profit of insurers has grown almost twofold, from 16.2 to 30.8 billion tenge.

The companies’ efficiency in relation to assets (ROA) is 3.25%.

Source: http://finprom.kz/ru/article/aktivy-strahovyh-kompanij-vyrosli-na-8-za-god-i-pochti-dostigli-950-milliardov-tenge

Photos per websites: i2.wp.com, infoziare.ro

 

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