Kazakh insurance market is expecting profound changes in life insurance
Insurers and Financial Institutions' Association of Kazakhstan proposed to let citizens participate in management of their universal life insurance. Insurers consider implementing the most popular product in the world - Unit-linked, i.e. insured's participation in investment. In developed countries Unit-linked has 60% share of life insurance market. Implementation of Unit-linked in Kazakh market will improve development of Kazakh stock market due to that life insurers are one of the main sources of financing for the country's economy.
Insurance market of Kazakhstan is represented by 32 companies, 7 of them have license for life insurance and 25 - for general insurance. Voluntary insurance in Kazakhstan shows rapid growth, including civil liability, Motor Hull and life insurance.