bs-preloader__icon
ru kz en

How much premiums do domestic life insurers collect?

The insurance premiums on voluntary personal life insurance (with exception of life insurance within the framework of the state educational savings system) in January-February of this year reached 36.2 billion tenge, 45.9% more than in the same period last year. A year earlier the volume of premiums showed a 2% decline, reports Ranking.kz.
How much premiums do domestic life insurers collect?

The share of life insurance premiums from all premiums in the insurance segment increased from 12% in January-February 2023 to 14% in January-February 2024.

The volume of insurance payouts on voluntary personal life insurance for the year has enhanced by 2.3 times to 4.4 billion tenge for January-February 2024. The indicator has been growing for the third year in a row.

The share of life insurance payouts from all insurance payments increased from 5.9% in January-February 2023 to 10% in the first two months of this year.

In total, 9 insurance companies operate in the life insurance market in Kazakhstan. Almost 40% of all premiums on voluntary personal life insurance for January-February 2024 fell only on LIC Halyk-Life: 14.5 billion tenge - 70.5% more than in January-February 2023. Considerable volumes were also generated by LIC Nomad Life (10 billion tenge), LIC Freedom Finance Life (5.5 billion tenge) and European Insurance Company (4.2 billion tenge).

Almost 40% of insurance payments for voluntary personal life insurance also came from LIC Halyk-Life: 1.7 billion tenge - 4.5 times more than in the same period last year. However, the largest volume of payments in the segment was demonstrated by LIC Nomad Life: 2.1 billion tenge - 2.3 times more than a year earlier. These two LICs formed 86.6% of all life insurance payouts.

Source: https://ranking.kz/reviews/banking-and-finance/rynok-strahovaniya-zhizni-vesma-vysokokontsentrirovannyy-dve-treti-sobrannyh-premiy-prihodyatsya-lish-na-dve-kszh.html 

Photos are from open sources.

Share
read also
106-year-old man named the main principles of a long life
106-year-old man named the main principles of a long life

A US resident celebrated his 106th birthday in early September and spoke about two ma...

How much water we should drink in the heat
How much water we should drink in the heat

With warm season coming we begin to drink more water, which is logical: the increased...

Financial Planning: investing in personal development
Financial Planning: investing in personal development

Financial planning plays a significant role in every person’s life, writes the Fing...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application