KAZAKHSTAN: Despite impressive growth in 2023, Motor Hull covers no more than 5% of the country's vehicle fleet

21 August 2024 — Marina MAGNAVAL
As a result of the severe hailstorm that occurred in Astana in early August, at least 5,000 vehicles were damaged, according to preliminary estimates from Eurasia’s (the market leader) specialists.

According to the insurer's estimates, Motor Hull policies cover no more than 10% of the capital's vehicles, Allinsurance.kz writes with reference to the insurance company.

It is noted that in 2023, Motor Hull demonstrated a significant increase in new contracts (a twofold increase y-o-y), and GWP (over KZT 120 billion/EUR 239.18 million) for the first time outpaced MTPL (over KZT 115 billion/EUR 230.77 million). However, Motor Hull still covers no more than 5% of the country's vehicle fleet.

According to preliminary estimates, of the total number of vehicle owners damaged by hail, no more than 500 vehicles, or about 10% of the damaged ones, were insured under Motor Hull, the source says.



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