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Eurasia LIC is the 7th player in the life insurance market

A new player appeared on the domestic insurance market: on March 4, 2019, the National Bank of the Republic of Kazakhstan issued a license for insurance and reinsurance activities in the life insurance industry to JSC LIC Eurasia, which is a subsidiary of the permanent leader in general insurance Eurasia IC JSC, forbes.kz reports.
Eurasia LIC is the 7th player in the life insurance market

The decision to establish a life insurance company was a logical step in implementing the one-stop-shop business model adopted in the world, when a client can receive all services in one “window”. This will allow offer a full range of insurance services to existing and potential customers. Thus, a subsidiary structure of LIC Eurasia will create great opportunities for successful development of joint cross-selling, which means a significant increase in the quality of customer service, the press service of Eurasia IC reports.

Based on the requirements for the minimum amount of capital under the Law of the Republic of Kazakhstan “On Insurance Activities” in life insurance and reinsurance sector, the charter capital of Eurasia LIC is 5.4 billion tenge.

- We believe that the Kazakhstani life insurance market is on the rise, and we evaluate its prospects and potential as high. Though, the situation on life insurance market has been long stable as the market is concentrated on three top life insurance companies with share of 85% of all insurance premiums, we are confident that considering the growing interest of our people in life insurance in an effort to protect and improve their lives now and in the future, we can offer unique products and high quality services that fully meet customers’ requirements and needs. The clients of Eurasia IC have already been able to ascertain the high quality of services provided by the company for over 20 years. The clients of Eurasia LIC are next in line,” said Gulmira Ubegaliyeva, the Board Chairman.

Source: https://forbes.kz/finances/insurance/ksj_evraziya_-_7-y_igrok_na_ryinke_strahovaniya_jizni/

Photos are from open sources.

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