bs-preloader__icon
ru kz en

Positive dynamics in life insurance

The National Bank of the Republic of Kazakhstan published the main indicators of the insurance sector of the Republic of Kazakhstan as of January 1, 2018. The growth of premiums in the life insurance industry is by 18.8%, compared with 2016.
Positive dynamics in life insurance

To date, the insurance sector of the country is represented with 32 insurance organizations, 7 of which are involved in life insurance. According to the regulator, the volume of insurance premiums collected in 2017 in the field of "life insurance" amounted to KZT 66,205 million, which is 18.8% more than in 2016. The share of insurance premiums collected by the life insurance industry in total insurance premiums in 2017 was 17.9%, compared to 15.6% in 2016.

Receipt of insurance premiums in the field of insurance of employees against accidents during performance of their labor (office) duties as of January 1 of this year amounted to KZT 42,758 million, which is more by KZT 4 million than last year.

In the field of health insurance, premiums also rose from KZT 23,852 million up to 25,950 at the beginning of this year.

In the field of annuity insurance, there is a positive trend either - there is an increase in insurance premiums from KZT28,572 million up to KZT33,560 million for the year.

Directly in life insurance, the volume of premiums increased over the year by almost KZT5 million - from KZT27,167 million up to KZT32,645 million.

Good statistics is in insurance against accidents as well - an increase in the indicator is from KZT6,865 million as of January 1, 2017 up to KZT9,076 million as of January 1, 2018.

Thus, totally voluntary personal insurance premiums received as of January 1, 2013 was KZT 101,231 million, whereas as of January 1, 1997 the sum amounted to KZT 86,456 million.

The indicators in the structure of insurance payments, according to the National Bank of the Republic of Kazakhstan, are the following:

- insurance of employees against accidents during performance of their labor (official) duties – KZT 4 570 million as of 01.01.2017 and KZT 5,251 million as of 01.01.2018.

- health insurance - KZT16,519 million and KZT16,862 million, respectively.

- annuity insurance - KZT10,596 million at the beginning of the previous year and KZT12,528 million at the beginning of this year.

- life insurance - KZT2,278 million and KZT2,045 million in January 2017 and January 2018, respectively.

- insurance against accidents – KZT823 million as of 01.01.17 and KZT 675 million as of 01.01.18

In general, in voluntary personal insurance, payments for the year amounted to KZT 32,110 million as of January 1, 18, compared to KZT 30,216 million as of January 1, 1997.

Source: http://www.nationalbank.kz, “Statistics” section

Photo - from Kursiv.kz web-site

Share
read also
Insurers' assets exceeded one trillion tenge
Insurers' assets exceeded one trillion tenge

For 11 months of 2018, the assets of insurance companies have increased by 8.6%, repo...

What are the alternatives to the unified accumulated pension fund (UAPF)
What are the alternatives to the unified accumulated pension fund (UAPF)

Deposits, stocks, real estate, life insurance, what do you need to invest in, so that...

7 tips for choosing the right life insurance company
7 tips for choosing the right life insurance company

Today, 7 life insurance companies operating in this market are registered in Kazakhst...

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