KAZAKHSTAN: in May, total equity and assets of insurers decreased amid an impressive growth of income - almost 41% from April

Total equity of insurers in May continued to decline (-0.6%) and amounted to KZT 499.1 billion (~EUR 1.17 billion). However, the leader in terms of equity, EURASIA, improved its result in May to KZT 137.8 billion, as did VICTORY, which ranks second (to KZT 87.1 billion), Allinsurance.kz reports.

Total assets of insurers, according to the National Bank of Kazakhstan, decreased by 1.5% in May (compared to April) to KZT 1.99 trillion. In terms of assets, the market leader is also EURASIA (KZT 259.2 billion), followed by Halyk-Life (almost KZT 151.2 billion) and Halyk (KZT 113.2 billion). TOP-5 here also includes NOMAD LIFE and VICTORY.

Total income of the insurance sector in May saw impressive growth - by 40.7% (from the April level), to KZT 29.9 billion. In terms of income, the market is highly concentrated; income of the leading EURASIA in May reached KZT 11.6 billion (+31.1% for May), NOMAD LIFE ranked second by a large margin (+30.9%, KZT 3.6 billion), and third at the end of May was VICTORY (almost KZT 2.8 billion). The largest loss in May was recorded by Kommesk-mir (- KZT 0.9 billion).

Total GWP at the end of May increased to KZT 208.7 billion (~EUR 0.49 billion). EURASIA is also the leader in terms of GWP (+17.7% for May, KZT 48.6 billion), followed by Halyk (KZT 31.8 billion), Halyk-Life (KZT 28.8 billion) and NOMAD LIFE (KZT 22.9 billion). Total paid claims as of 01.06.2019 amounted to KZT 66 billion. In terms of paid claims Halyk ranks first (almost KZT 25.6 billion), while EURASIA's paid claims reached KZT 14.9 billion by the end of May, Allinsurance.kz wrote.

*UER 1 = KZT 426.48 (01.06.2019)

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