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Life insurance in Kazakhstan is developing faster than general insurance

Insurance companies have concluded 1.5 million contracts with clients in two months of 2022, 11.3% more than in the same period of 2021. This growth is largely due to the fears of the population for their health and life. As statistics showed, the number of accident insurance contracts increased by 71.2%, and the number of health insurance agreements grew by 2.3 times at once, according to FinReview.info.
Life insurance in Kazakhstan is developing faster than general insurance

As a result, the volume of premiums accepted under insurance (reinsurance) agreements increased by 1.3% or 1.8 billion tenge, 138.6 billion tenge in monetary terms.

Compulsory insurance got 19.9 billion tenge since the year beginning, which is 1.7 billion tenge or 9.6% more compared to the same period last year. The increase was mainly due to insurance of the employee against accidents in the performance of his labor (official) duties - by 1 billion tenge or 17.6%.

46.3 billion tenge were received on voluntary personal insurance in two months of 2022, 7.9 billion tenge less compared to the same period last year. The decline is primarily due to a decrease in the collection of insurance premiums under retirement annuity agreements by 79% or 15.5 billion tenge.

The premiums accepted under insurance (reinsurance) agreements on voluntary property insurance amounted to 72.3 billion tenge since the year beginning, 8 billion tenge more than last year. This is due to increase in collected premiums on property damage insurance by 6.6% or 3 billion tenge and civil liability insurance by 2 times.

Source: http://finreview.info/ru/review/kak-uvelichit-dohodnost-strahovogo-sektora-v-2-raza/

Photos are from open sources.

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