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For half a year life insurance premiums in Kazakhstan have increased by 9.9% to KZT 35.6 billion

Today the National Bank of Kazakhstan has published data on the local financial market situation, including the insurance sector as of June, 2018.
For half a year life insurance premiums in Kazakhstan have increased by 9.9% to KZT 35.6 billion

As of July 1, 2018, the insurance sector is represented by 32 insurance (reinsurance) organizations.

The total volume of assets of insurance (reinsurance) organizations amounted to KZT 993.2 billion (increase from the beginning of the year by 7.3%) as of July 1, 2018.

The liabilities of insurance (reinsurance) organizations have increased since the beginning of the year by 8.4% to KZT 556.8 billion.

The volume of insurance reserves formed by insurance (reinsurance) organizations to ensure the fulfillment of obligations under existing insurance and reinsurance contracts, since the beginning of the year has grown by 6.8% to KZT 491.8 billion.

Owner’s equity amounted to KZT 436.4 billion (growth since the beginning of the year by 6.0%).

As of July 1, 2018 the insurance premiums have increased by 3.8% to KZT 212.1 billion compared to the same index as of 2017; the volume of insurance premiums accepted under direct insurance contracts was KZT 187.3 billion.

As a result of six months of the year of 2018, life insurance premiums have increased by 9.9% compared to the same period in 2017 to KZT35.6 billion. The share of collected life insurance premiums collected in relation to the total insurance premiums was 16.8% compared to 15.9% as of July 1, 2017.

The volume of insurance premiums transferred for reinsurance amounted to KZT 60.3 billion or 28.4% of the total volume of insurance premiums. 83.4% 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 37.6 billion, which is 2.3% less than for the same period in 2017.

Photos per websites: baomoi.com, zakon.kz

 

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