KAZAKHSTAN: market share of life insurance in January grew by 4% y-o-y

27 February 2020 — Marina MAGNAVAL
As the data of the regulator show, in January 2020, total Kazakh market increased by 17% y-o-y, up to KZT 75.4 billion (EUR 0.18 billion).

The share of life insurers in the market portfolio grew from 18.9% (in January 2019) to 22.9%, Allinsurance.kz reports. Among life products, significant growth was recorded by pension annuities (+67%) and voluntary life insurance (+47%).

Growth rates of the most popular non-life classes were much more moderate. Voluntary property insurance increased by 8% y-o-y, MTPL - by 16%, and voluntary health insurance - by 15%. However, at the same time some smaller classes were growing at a very impressive pace, such as voluntary cargo insurance (+114%).

* EUR 1 = KZT 417.98 (as of 01.02.2020)
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