The volume of insurance payments on voluntary life insurance for the same period reached 14.7 billion tenge, 1.5 times more than for January-June 2023. A year earlier, an increase of 86.3% was observed.
The share of premiums on voluntary personal life insurance in the total volume of premiums in the insurance market was 15% for January-June of this year compared to 16% for the same period in 2023.
The share of life insurance benefits in all payments in the insurance sector reached 9.8% for this period, and a year earlier the share was 8.3%.
Only 2 of 9 Kazakhstani life insurance companies (LICs) form two-thirds of the market. The leader in terms of premiums collected for voluntary life insurance for January-June of this year was LIC Halyk-Life with 54.4 billion tenge, which made almost half of all premiums collected in the segment. The growth over the year is 28.4%. Next is Nomad Life with 22.3 billion tenge, by 7.7% less than in January-June 2023.
Significant volumes of premiums were also collected by Freedom Finance Life (17.4 billion tenge) and European Insurance Company (13.6 billion tenge).
Nomad Life paid the largest volume of insurance benefits on voluntary life insurance: 8 billion tenge, 2.3 times more than in January-June 2023. Next come Halyk-Life (4.9 billion tenge) and European Insurance Company (1.4 billion tenge).
Photo is from open sources.
