Insurance companies from Kazakhstan ended the first half of this year with a
27% drop in written premiums, according to Kazakhstan National Financial Supervisor.
Despite of the fact that non-life insurance market is in decrease, life segment
rose by over 35%, amounting to 6,8% of the market, in comparison with 3,7% last
year. Mandatory insurance classes amounted to 23% of the market, with a 6.6%
increase in premiums. The most significant decrease was on the property segment
- minus 40%.
The share of premiums ceded in reinsurance rose to 62%, out of which 93% were
ceded to foreign reinsurers.
The volume of paid claims rose with more than 56%. For mandatory insurance, paid
claims rose by 10.8%, whereas for the property segment this indicator dropped
down by over 76%.
In Kazakhstan, there are registered 44 insurance companies, out of which 7 companies
are specialized in life insurance. On the local market, there are also present
12 insurance brokers and 63 actuaries.
