KAZAKHSTAN: Jan-Apr over 83% of insurer income went to insurance activities

According to a Ranking.kz estimation based on data from the National Bank, for the first four months of this year, total income of the Kazakh insurers reached KZT 133.2 billion, which is 25.8% more y-o-y, Allinsurance.kz reports.

83.1% of the total income fell into insurance activities, 16.4% to investments activities, and 0.5% to others.

However, net profit of insurers in Jan-Apr 2019 decreased by 6.6% y-o-y, to KZT 21.3 billion, whereas annual profit growth a year ago in the same period hit a historical maximum for the local market.

The TOP-3 insurers hold 63.4% of the total net profit. The highest net profit amount was recorded by EURASIA (KZT 8.9 billion), equal to 41.7% of the total market net profit. Nomad Life ranks second (12.9% of net profit), and third place was taken by VICTORY (8.7%).

*EUR 1 = KZT 426.28 (30.04.2019)

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