KAZAKHSTAN: almost half of the compulsory employee accident insurance GWP comes from two life insurers

20 October 2020 — Marina MAGNAVAL
Almost half of the premiums under compulsory employee accident insurance in Kazakhstan from January to August 2020 were collected by two companies - NOMAD Life and HALYK-Life, allinsurance.kz reported.

Total GWP under compulsory employee accident insurance for the period amounted to KZT 26.8 billion (~EUR 53.65 million*), which is 2.8% more y-o-y, and the segment's share in total GWP of compulsory insurance increased to 33.4%. At the same time, the segment's paid claims decreased by 17%.

Almost half (about KZT 13 billion) of GWP under compulsory employee accident insurance from January to August 2020 came from two life insurers - NOMAD Life and HALYK-Life, although their GWP significantly dropped y-o-y. While EURASIA recorded the highest growth rate (+42.6%), according to the data of the National Bank of Kazakhstan.

On the paid claims side, more than half part of the segment's claims were also paid by NOMAD Life and HALYK-Life. While Freedom Finance Life ranks third in terms of paid claims volume.


* at the following exchange rate:
EUR 1 = KZT 499.47 (as of 01.09.2020)



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