KAZAKHSTAN: EURASIA keeps about a quarter of total assets and almost 44% of total profit of the insurance sector

6 December 2018 — Marina MAGNAVAL
In October the insurance market saw positive growth in terms of total assets and capital: assets increased by 0.2% to KZT 990.4 billion, total capital went up by 0.1% to KZT 462 billion, as allinsurance.kz informed.

The market leader, EURASIA, increased its assets by 1.2% to KZT 248.5 billion, while in September the insurer's assets recorded a decline by 1.5%. In general EURASIA keeps about 25% of the total market assets. The leader is followed by KHALYK-Kazakhinstrakh (KZT 92.1 billion), KHALYK Life (KZT 77.9 billion) and KAZKOMMERTS-Life (KZT 60.7 billion). Assets of another two insurers after 10 months exceeded KZT 50 billion - VICTORY and NOMAD-Life.

Also in October the local insurance market increased total equity by 0.1% to KZT 462 billion, while in September total equity went down by 0.4%. In terms of equity the leader is EURASIA (KZT 142.5 billion or 30.8% of the total market equity), followed by VICTORY (KZT 82.1 billion). TOP-5 insurers by equity also include KHALYK-Kazakhinstrakh (KZT 46.8 billion), KHALYK-Life (KZT 11.1 billion) and KAZKOMMERTS-Life (KZT 8.9 billion).

Total profit in October went up by 4.3% to KZT 77.8 billion, at that 43.7% is generated by EURASIA. Second and third places in terms of profit were taken by VICTORY and NOMAD Life. Negative profit was recorded only by 2 insurers: SALEM and Amanat.

GWP in October increased by 10.8% to KZT 317.7 billion. TOP-3 insurers by the end of October collected GWP in the amount of KZT 85.9 billion. Among them GWP of KHALYK-Kazakhinstrakh in October went up by 15.8%, KHALYK-Life - by 11.8% and KAZKOMMERTS -by 9%. The market leader in terms of GWP as of the beginning of November is again EURASIA (KZT 60.6 billion). Based on 10 months' result, GWP of KZT 20 billion was exceeded by NOMAD Life (KZT 24.9 billion) and KAZAKHMYS (KZT 21.3 billion).

Paid claims in October increased by 10.6% to KZT 77.9 billion. EURASIA is leading the market in terms of paid claims as well (at the end of October - KZT 26.1 billion), its share in total paid claims is 33.5%. Paid claims over KZT 5 billion based on 10 moths' result besides the leader was recorded only by KHALYK-Kazakhinstrakh.

*EUR 1 = KZT 418.71 (31.10.2018)

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