KAZAKHSTAN: GWP in January 2019 went up by more than 40% y-o-y
Obligations of the insurance sector as of the end of January 2019 increased by 4.9% y-o-y to KZT 608.9 billion. Insurance reserves went up by 5.6% to KZT 548.4 billion. Total equity increased by 0.6% to KZT 471.1 billion.
GWP as of February 1, 2019 jumped by 40.8% y-o-y to KZT 64.5 billion. At that GWP of life insurance increased by 82.4% y-o-y to 8.6 billion, and the share of the life sector in the market portfolio amounted to 13.3% vs 10.3% a year ago.
Total paid claims (except for paid claims under the contracts accepted in reinsurance) from the beginning of 2019 amounted to 6.3 billion (+19.6% y-o-y).
As of February 1, 2019, the insurance sector was represented by 28 companies. Assets of the insurance sector by the end of January 2019 amounted to KZT 1.1 trillion (+15.6% y-o-y vs the growth by 6.9% y-o-y in January 2018). At that 68.2% of all assets are concentrated by 5 biggest companies, according to finprom.kz. The 1st place in terms of assets is taken by EURASIA (KZT 272.5 billion, +16%). 2nd goes Khalyk-Life, and the 3rd - KHALYK. TOP-5 also include VICTORY and NOMAD Life.
By the end of January 2019 ROA on the market amounted to 0.6%. The highest ROA was recorded by NOMAD Insurance (1.3%), followed by EURASIA (1.1%). The biggest growth rates of assets by the end of January 2019 were demonstrated by KHALYK (from KZT 45.9 billion a year ago to KZT 134.1 billion), Khalyk-Life (more than 2 times y-o-y) and Sentras Insurance (+47.5%). TOP-5 in terms of assets growth as of February 1, 2019 include also Sinoasia B&R (+42.6%) and NOMAD Life (+39.9%).
*EUR 1 = KZT 434.96 (31.01.2019)
EUR 1 = KZT 399.81 (31.01.2018)