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Unlike the banking sector, domestic insurers completed last winter with a confident rise

The total insurance assets grew by 0.2% to 935.8 billion Tenge in the last winter month, by 1.9 billion Tenge in absolute terms, with no changes in order of market participants, dknews.kz reports.
Unlike the banking sector, domestic insurers completed last winter with a confident rise

Among the life insurance companies, in terms of assets the top ten include Halyk-Life (66.4 billion Tenge), Kazkommerts Life (63.5 billion Tenge), Nomad-Life (68.3 billion Tenge), "LIC State Annuity Company" (34.6 billion Tenge).

According to dknews.kz, the overall financial result of the insurers' activities, their profit (undistributed income), also radiated a positive confidence. In a month of February, it increased in 18.2 (!) times to KZT6.2 bln., by KZT5.9 bln. in absolute terms. This, of course, contributes to the further stable growth of the insurance sector in general, the portal writes. Concentration on this indicator is also strong; after all, only two insurers have managed to cross the bar in KZT1 bln. Eurasia also dominates on the market: its profit has increased almost 5 times to 4.0 billion Tenge in February, by 3.2 billion Tenge in absolute terms. The second is "Nomad Life" with an increase of 2.3 times to 1.2 billion Tenge. It is easy to calculate, the share of this duet in the total profit of the insurance sector was 83.9%!

The total amount of premiums collected by insurers has significantly increased as of February, 1.6 times to 77.6 billion Tenge, by 29.3 billion Tenge in absolute terms, reports dknews.kz.

Source: https://dknews.kz/in-the-newspaper/70976-prizrak-duopolii-brodit-po-strakhovomu-rynku.html

Photos per websites: Finance.uaReport.az

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