bs-preloader__icon
ru kz en

A quarter of all payments on voluntary private insurance fell on life insurance

The volume of benefit payments on voluntary private life insurance in January-May 2023 has reached 7.2 billion tenge, which is 1.5 times more than in January-May 2022. It should be noted that the volume of payments in this segment a year earlier shows an increase of almost three times, according to Ranking.kz.
A quarter of all payments on voluntary private insurance fell on life insurance

The share of life insurance payments in the volume of voluntary private insurance payments has increased from 19.1% to 25.2% over the year, and in the total volume of all insurance payments - from 6.9% to 7.1%.

The ratio of insurance payments to premiums on voluntary private insurance has grown from 6.8% to 9.6% over the year. In January-May 2021, it was only 2.6%.

As of June 1, 2023, there were 10 life insurance companies operating in the Republic of Kazakhstan, of which seven LICs made payments on voluntary private insurance for January-May 2023.

Almost half of all payments on voluntary private life insurance in January-May of this year fell only on LIC Halyk-Life: 3.6 billion tenge. Then come LIC Nomad Life (2.3 billion tenge) and LIC European Insurance Company (975.8 million tenge).

Significant volumes of benefits also fell on LIC Freedom Finance Life (262.3 million tenge) and LIC Standard Life (71.4 million tenge).

Source: https://ranking.kz/reviews/banking-and-finance/chetvert-vseh-vyplat-po-dobrovolnomu-lichnomu-strahovaniyu-prishlas-lish-na-strahovanie-zhizni.html

Photos are from open sources.

Share
read also
Amazon's new step: life insurance via this platform is just around the corner
Amazon's new step: life insurance via this platform is just around the corner

38% of Amazon customers have agreed to a life insurance plan by this company, and abo...

Insurance grows due to the increase in the product cost
Insurance grows due to the increase in the product cost

The dynamics of the number of insurance contracts lags the dynamics of their prices, ...

How does life insurance work?
How does life insurance work?

Having a life insurance policy is a must for anyone who wants to ensure the financial...

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