The license of the life insurance company Freedom Finance Life No. 2.2.48 dated November 14, 2018 for the right to carry out insurance (reinsurance) activities in the life insurance industry has been restored.
The company is resuming a full-fledged work on annuity insurance and compulsory employee insurance against accidents as of February 1, 2019.
Freedom Finance Life can once again issue policies and prolong contracts for these types of insurance. Work on other types of insurance is not suspended and operating normally.
Life insurance Company Freedom Finance Life has been on the market since 2014, since 2018 the company has been operating under the Freedom Finance brand. More than 335,000 clients have been insured in the course of its work.
According to the National Bank of Kazakhstan, as of January 1, 2019, the LIC assets have amounted to 10.37 billion tenge, insurance reserves - 7.26 billion tenge, equity capital - 2.98 billion tenge, and charter capital - 1.99 billion tenge. Retained earnings of the company amounted to KZT392 million.
Freedom Finance Life previously bore a name Asia Life LIC JSC, and it was the company that the National Bank issued the license in 2015 to. To resume work, the company needed to re-register the license due to the name change, the National Bank reported.
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