According to the Agency of the Republic of Kazakhstan for Regulation and development of the financial market, this growth was mainly due to an increase in income from insurance activities and revaluation of the value in foreign currency, Allinsurance.kz wrote.
In the structure of assets, the largest share (71.4%) belongs to securities - KZT 1.41 trillion. Liabilities of insurers as of July 1, 2022 amounted to KZT 1.23 trillion. The increase in liabilities occurred mainly due to the growth of insurance reserves. Equity capital at the end of the first half of the year amounted to KZT 741 billion, basically. Net profit in the insurance market since the beginning of 2022 amounted to KZT 80.3 billion.
Since the beginning of 2022, the number of concluded insurance contracts for individuals and legal entities has increased by 10% compared to the same period in 2021. This growth was mainly due to an increase in the number of contracts concluded for health insurance, third party liability insurance of vehicle owners and travel insurance.
As of July 1, 2022, the insurance sector of the Republic of Kazakhstan was represented by 27 insurance companies, of which 9 are life insurers.
*EUR 1 = KZT 485.27 (01.07.2022)
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