KAZAKHSTAN: life premiums for January-July increased more than 1.5 times y-o-y

Life GWP for January-July amounted to 11.2% of total market GWP (vs 7.5% a year ago), according to Thus, life premiums increased more than 1.5 times y-o-y.

Voluntary life insurance went up y-o-y by 54.7%, premiums for January-July amounted to KZT 27.4 billion. At that total market GWP saw a rather low growth rate, by 3.8% to KZT 245.2 billion.

Paid claims during January-July decreased by 6.4% to KZT 1.1 billion, while total market paid claims went up by 10.7%. Life paid claims' share in the total market's paid claims dropped from 2.1% to 1.8%.

In terms of life GWP for the first 7 months of the year, the leader is HALYK-Life (KZT 14.4 billion, +78.1% y-o-y), followed by EUROPEAN Insurance Company (KZT 7.7 billion, +4.9%), and NOMAD-Life (KZT 3.2 billion, increase by 2.3 times). In terms of life paid claims, the leader is EUROPEAN Insurance Company (KZT 679.1 million, +55.9% y-o-y), followed by KAZKOMMERTS-Life (KZT 260.6 million, - 50.9%), and NOMAD-Life (KZT 87 million, - 0.3%).

*EUR 1 = KZT 405.54 (as of 31.07.2018)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles


ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.



Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all