KAZAKHSTAN: Fitch Forecasts Kazakh Insurance Market Growth At Double-Digit Rates
Fitch noted that the insurance penetration rate (gross written premiums as a percentage of GDP) in Kazakhstan is low by international standards.
"After a dip in 2014, non-life penetration recovered to 0.58 percent of GDP in 2016. The penetration rate in life insurance is even lower, only 0.12 percent of GDP. This leaves significant growth potential for the Kazakh insurance sector," the rating agency said. Read the full story