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The charter capital of LIC Eurasia is increased to 10 billion tenge

As a result of an additional infusion of 1 billion tenge by the company’s shareholder, JSC Insurance Company Eurasia, the equity of the LIC Eurasia reached 10 billion tenge, the press service of the organization reports.
The charter capital of LIC Eurasia is increased to 10 billion tenge

The capitalization increase is aimed at maintaining the growth rate of LIC Eurasia, which by the end of 2020, its first full year of activity, ranks third in the life insurance market in terms of premiums collected.

“By increasing the charter capital of LIC Eurasia the company is planning to achieve a leadership position in the life insurance market of the Republic of Kazakhstan, that is, the same status as the company’s shareholder JSC Insurance Company Eurasia, in the general insurance industry,” the press service of the organization notes.

On November 2, 2020, the leading international rating agency S&P Global Ratings assigned a long-term issuer credit rating and a financial strength rating to Eurasia Life Insurance Company JSC at the BBB- level with a stable outlook for the first time. The national scale rating was affirmed at 'kzAAA'.

Photos are from open sources.

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