In the structure of assets, the largest share (70.6%) is occupied by securities (KZT 1.34 trillion), which grew by 0.9% in April.
Liabilities of insurers in April 2022 increased by 0.8% and as of May 1, 2022, amounted to KZT 1.18 trillion. This increase was mainly due to the growth of insurance premiums.
The insurers' equity capital in April 2022 decreased by 3.1% to KZT 715 billion. The decrease was due to the payment of dividends.
The net profit of the insurance market in April amounted to KZT 0.6 billion. At the same time, since the beginning of 2022, net profit has reached KZT 31.3 billion.
In April 2022, the number of concluded insurance contracts increased by 8.6% compared to March 2022. Since the beginning of 2022, total number of concluded insurance contracts has increased by 10.2% y-o-y. This growth was mainly due to an increase in the number of contracts concluded for health insurance (+96.4%), accident insurance (+23.5%) and life insurance (+8.3%).
GWP after the first four months of 2022 amounted to KZT 273.2 billion, which is 1.9% more y-o-y. At the same time, KZT 45 billion (+18.3%) were received since the beginning of the year from compulsory insurance. The increase is mainly due to a rise in employee insurance against labor accidents (+30.1%).
GWP for voluntary personal insurance for 4 months of 2022 amounted to KZT 93.3 billion, which is 10.6% less y-o-y. The decrease was mainly due to a decline under pension annuity agreements (-67%).
As for voluntary property insurance, since the beginning of the year it has reached KZT 134.9 billion (+7.4%). This was due to an increase in property damage insurance (+5.8%) and civil liability insurance (+37.8%).
Total paid claims for January-April 2022 amounted to KZT 56 billion (+44.2%). In total, since the beginning of 2022, insurers have made 277,171 payments.
As of May 1, 2022, the insurance sector of the Republic of Kazakhstan is represented by 27 insurance organizations, 9 of which are life insurers.
*EUR 1 = KZT 472.09 (01.05.2022)
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