This was reported by the marketing and public relations service of JSC LIC State Annuity Company. As of present, the company's assets have reached 37 billion tenge, its own capital has grown to 5.6 billion tenge, insurance reserves to 31 billion tenge. Insurance payments as of year beginning have amounted to over 2 billion tenge, and insurance premiums reached 3.8 billion tenge.
"High financial performance of the Company indicate its success and stability in the market," the company states.
As our publication previously reported, Murat Temirzhanov, the Prime Minister of the Republic of Kazakhstan, the Majilis deputy the State Annuity Company, requested to exclude JSC LIC State Annuity Company from the list of objects for privatization. He addressed Bakytzhan Sagintayev with the request. The people's representatives considered it impractical to transfer the company to the competitive environment. It was planned to sell SAC by the end of this year.
The deputy Temirzhanov has explained his viewpoint with the fact that today more than 10 thousand people receive insurance payments from this company, and about 86% of them are citizens who bought retirement annuities by deliberately choosing a company with state participation from seven existing insurance organizations on the market. All the rest are employees injured at work or dependents of workers who died while on duty.
"The privatization process is unpredictable, the owner of the company can become a person with no business experience in this industry,” the deputy said. – Retirees’ savings and 36 billion tenge of assets subject to payments to injured workers or their dependents may be at risk of poor management."
There were also concerns that the company’s value might be reduced at the close of trading, and in case of luck of potential buyers, the company should be liquidated. In this case, it would be difficult to determine and even predict the future of social insurance payment beneficiaries.
Therefore, the deputy insisted on the possibility of keeping the Company with state participation as a stabilizing participant in the insurance market and excluding JSC LIC SAC from the list of objects to be privatized.
Photos: zakon.kz,
