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Over two months, insurance premiums in the life insurance industry increased by 16.4%

As a result of two months of 2018, insurance premiums in life insurance sector increased by 16.4% compared to the same period in 2017 to KZT 10.6 billion. The share of insurance premiums collected in life insurance from the total insurance premiums was 13.6% compared to 12.1% as of March 1, 2017, the press service of the National Bank of the Republic of Kazakhstan reports.
Over two months, insurance premiums in the life insurance industry increased by 16.4%

The total volume of assets of insurance (reinsurance) organizations as of March 1, 2018 amounted to 935.8 billion tenge (the growth since the beginning of the year by 1.0%), the National Bank of Kazakhstan said. The Kazakhstani insurance sector is represented by 32 insurance (reinsurance) organizations as of March 1, 2018.

However, the liabilities of insurance (reinsurance) organizations increased from the beginning of the year by 1.7% to 522.1 billion tenge. The volume of insurance reserves formed by insurance (reinsurance) organizations to ensure the fulfillment of obligations under existing insurance and reinsurance contracts has increased by 3.7% since the beginning of the year to 477.5 billion tenge.

The equity amounted to 413.7 billion tenge (growth from the beginning of the year by 0.2%).

As of March 1, 2018 the insurance premiums increased by 3.6% compared to the same period in 2017 to KZT 77.6 billion, the volume of insurance premiums accepted under direct insurance contracts was KZT 66.9 billion.

The volume of insurance premiums transferred for reinsurance amounted to 21.3 billion tenge or 27.4% of the total volume of insurance premiums. 77.8% of insurance premiums were transferred for reinsurance to non-residents of the Republic of Kazakhstan.

The total volume of insurance payments (excluding insurance payments made under agreements accepted for reinsurance), made since the beginning of 2018, amounted to KZT 12.5 billion, which is 5.0% more than for the same period in 2017, reports the press service of the National Bank of Kazakhstan.

Photo per website: capital.market.md

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