1. JSC Subsidiary Life Insurance Company Halyk-Life
Life insurance, retirement annuity insurance, and CAI form a larger share of the portfolio. Halyk-Life has become the leader in the rating this year and the largest among companies in the life insurance sector. At the end of 2022, its assets grew by 20.5% to 282.7 billion tenge (1st place). The company also ranks first in terms of equity, which has built up by 34.2% over the year, to 56.4 billion tenge, and in terms of net profit - 17.5 billion tenge, which is 98.6% more compared to 2021. Capital Efficiency (ROE) increased to 36% (5th) from 22%.
2. JSC LIC European Insurance Company
The company's assets have increased by 69.7% and amounted to 46.6 billion tenge (7th place), the equity has grown by 71.7% to 26.4 billion tenge (2nd place) during the year. The net profit was 11.5 billion; an increase of 28.5%. At the end of 2022, the capital efficiency ratio (ROE) declined to 55% from 74% in 2021, which deprived the company of leadership in this index (2nd place).
3. JSC LIC Freedom Finance Life
Retirement annuity insurance, AI, life insurance, and CAI form the larger share of the portfolio. As of end of 2022, LIC Freedom Finance Life has been the most efficient company in the sector in terms of equity capital (ROE) use - 58%. The volume of assets was 107.1 billion tenge (an increase of 13.6%), the equity - 21.7 billion tenge (an increase of 68.5%), the net profit - 10 billion tenge (a 89.5% increase).
4. JSC LIC Eurasia
A larger share of the portfolio consists of retirement annuity insurance, life insurance, and CAI. As of end of 2022, the company's assets amounted to 68.06 billion tenge, the equity - 21.9 billion tenge (4th place in both cases). The net profit has more than quadrupled for the year and reached 5.7 billion tenge (5th place).
5. JSC LIC Nomad Life
Life insurance, retirement annuity insurance, and CAI form a larger share of the portfolio. LIC Nomad Life is the second largest company in the sector with 263.5 billion tenge of assets, which have increased by 10.5% over the year from 238.3 billion tenge. In terms of equity capital, the company took third place - 22.3 billion against 30.8 billion tenge a year earlier. The net profit was 13.1 billion (2nd place) after 16.5 billion tenge in 2021. The capital efficiency ratio (ROE) is 49% (3rd place).
6. LIC KM Life
A larger share of the portfolio consists of CAI, AI, and annuity insurance. The company's assets grew by 67.1% in 2022, from 33.9 billion to 56.8 billion tenge (5th place). The equity capital dropped from 9.2 billion to 8.9 billion tenge. The company has earned 3.7 billion over the year against 3.3 billion tenge a year earlier.
7. JSC LIC Centras Kommesk Life
The company's assets have grown by 27.2% for the year 2022 to 10.4 billion from 8.1 billion tenge. The equity capital dropped by 20.7% to 3.4 billion from 4.2 billion tenge in 2021. The company suffered losses in the amount of 887 million tenge.
It was announced this April that a permit for a voluntary reorganization had been received, as a result of which all property, rights, duties and obligations would be transferred to JSC LIC Kommesk Omir and the activities of JSC LIC Centras Kommesk Life would be terminated.
8. JSC LIC Standard Life
A larger share of the portfolio is CAI, retirement annuity insurance, and life insurance. LIC Standard Life is the sixth company in the sector in terms of assets - 48.7 billion tenge, and the seventh in terms of equity - 7.9 billion tenge. The company has earned 2.3 billion tenge over the year, which is 111% more than 1.1 billion tenge in 2021.
9. JSC LIC State Annuity Company
The company's performance has decreased over the year as follows: assets - by 3.1% to 35.9 billion tenge, equity - by 15.9% to 4.6 billion tenge. The net profit amounts to 937 million tenge, which is 27.7% less than 1.2 billion tenge earned a year earlier.
Photos are from open sources.