According to the results of the previous year, the total amount of insurance premiums collected by 32 insurers for all types of insurance amounted to 396.3 billion tenge, which is 6.5% more than in 2016. The top three are as follows: IC «Eurasia» - 55.2 billion tenge with a 13.9% market share, «Kazakhmys» - 45.5 billion tenge (market share 11.5%) and «Halyk Life» - 38 billion tenge (market share - 9.6%).
The growth of compensation, on the contrary, slowed down. Insurance payments in 2017 amounted to 88.8 billion tenge, which is 8.6% less than in 2016. IC «Eurasia» - 16 billion tenge (18.1% of the market), «Halyk-Kazakhinstrakh» - 8.4 billion tenge (9.5%) and IC «Kazkommerts-Polis» 6.2 billion tenge (7.1%), occupied the first three places.
The assets of the majority of insurers showed a steady increase, which amounted to 926.6 billion tenge, an increase of 8.2% compared to the same period last year. Here, the three leaders included: IC «Eurasia» - 218.6 billion tenge (market share - 23.6%), IC «Victoria» - 84.4 billion tenge (9.1%), LIC «NOMAD LIFE» - 67 , KZT 4 billion (7.3%).
A similar trend is maintained in the volume of insurance reserves. In 2017, they increased by 11.6%, amounting to 460.5 billion tenge. And here the first place went to IC «Eurasia» - 105.3 billion KZT (market share - 22.9%), followed by LIC «NOMAD LIFE» - 56.8 billion tenge (12.3%) and «Halyk-Life» - KZT 50.7 billion (11%).
The next indicator is the dynamics of own capital. In 2017, it reached almost 413 billion tenge. Compared to 2016, the indicator increased by a small 2.7%. On the first place again is «Eurasia» - 109.4 billion tenge (market share - 26.5%), «Victoria» remained on the second - 76.7 billion tenge (18.6%) and the third place went to KazakhExport - 42 , 1 billion tenge (10.2%).
In 2017, the authorized capital of 32 insurers amounted to 224.4 billion tenge, an increase of 8% compared with 2016. Again, the best indicator is in «Eurasia». The paid-in authorized capital of the company amounted to 91.6 billion tenge as of January 1, 2018, the market share reached 40.8%, the second place was assigned to KazakhExport - 37.1 billion tenge (16.5%), the third place - IC «Kazkommerts-Polis» - 22.8 billion tenge (10.2%).
And finally, the profitability of companies. According to statistics for 2017, the profitability of all insurers decreased by 11%, to 56 billion tenge. The top three are as follows: «Eurasia» - 13 billion tenge (market share - 23.1%), «Kaspi Insurance» - 6.2 billion tenge (11.1%) and IC «Victoria» - 5.4 billion tenge (9.6%).
If we evaluate the work by the number of hits in seven categories in the TOP-3 insurance companies, the IC «Eurasia» won first place in all of the listed positions. The second place went to IC «Victoria», the third - to IC «NOMAD LIFE» and KazakhExport.
In general, the past year can be considered positive for all indicators, except for two. Due to the growth of collected premiums, reduction in loss ratio and increase in other financial indicators, the 2017 was to satisfy the sector's participants. In this regard, it is time to say that the Kazakhstan insurance market is becoming more concentrated, and the insurers themselves differ in the optimal level of liquidity, good payment discipline, demonstrate a steady growth of premiums and capital, and have a sufficient level of financial autonomy.
By: Irina LEDOVSKYKH