On business lines, life insurance recorded one of the most spectacular growths, of 127%, summing up more than EUR 123 million. At the same time, the share of this class out of total underwritings rose to 20.6%, from 11.1% in 2011.
The volume of underwritings on the non-life insurance segment increase by 10%, to EUR 475 million (but decreased in local currency by 1.7%), because of the GWP collected in lower quantities on property insurance (-11%), respectively GTPL insurance (-17%).
At the same time, during the reference period, Kazakhstan insurers have paid claims for insurance contracts totaling EUR 174.47 million, 98% more than in January-June 2011. This spectacular change is due mainly the claims paid on property segment, in this case the value increasing by almost 300% (to EUR 25.3 million), on accidents insurance - by 117%, while on MTPL insurance segment, claims have increased by 84%, to almost EUR 27 million.
According to the figures, Top 5 insurance companies accounts for almost 46% of total premiums. The market leader, Insurance Company EURASIA - accounts for 16.8%, followed by HALYK-KAZAKHINSTRAKH - 10.9% and ALMATY International Insurance Group - 7.6%. Top 5 was completed by NOMAD Insurance - 5.3% and NOMAD Life - 5.2%.
Access www.xprimm.com and download the 1H2012 Kazakh insurance market statistics.
- Market indicators (in EUR and KZT): GWP/Claims/Growth rates/Portfolio
- Market rankings - Total/Life/Non-life (in EUR and KZT): GWP/Claims/Growth rates/Market shares