KAZAKHSTAN: The National Bank of Kazakhstan approved the merger of NURPOLICY to VICTORY

Insurance company VICTORY on July 30, 2018 got an approval from the National Bank of Kazakhstan for voluntary reorganization due to the merge of NURPOLICY, as announced on the regulator's website.

The decision on reorganization of NURPOLICY was made by the board of management of Nurbank in January this year. The owner of VICTORY is Kazakh businessman Rashit SARSENOV, who is also a big shareholder of Nurbank, the parent company of NURPOLICY.

As of July 1, 2018 assets of VICTORY amounted to KZT 84.39 billion (~EUR 0.21 billion), which is the second biggest figure in the local insurance sector. NURPOLICY has the 27th place in terms of assets among 32 insurers of Kazakhstan.

EUR 1 = KZT 397.26 (01.07.2018)

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