KAZAKHSTAN: from January to February, voluntary personal health insurance increased by a third

23 April 2024 — Marina MAGNAVAL
During the period from January to February 2024, more than half of the premiums in voluntary personal health insurance fell on just three insurance companies, and the total GWP in the segment increased by one third, reaching KZT 23.1 billion/~EUR 47.25 million (vs KZT 17.3 billion a year ago), Allinsurance.kz wrote.

At the same time, the segment’s share in total voluntary personal insurance premiums decreased from 23% to 21.7%, and its share in the total market portfolio, on the contrary, increased from 8.4% to 8.9%.

Paid claims in voluntary personal health insurance for the period amounted to KZT 5.1 billion, which is 21.5% more y-o-y. It is noted that growth has slowed down as a year earlier it was 28.5%.

The segment's share in paid claims for voluntary personal insurance decreased from 42.9% (recorded in Jan-Feb 2022) to 36.6%, and its share in all market paid claims fell from 12.8% to 11.6%.

Over half of all premiums for voluntary personal health insurance were collected by just three insurance companies. In terms of GWP for January-February, HALYK is the leader (KZT 5.6 billion), followed by INTERTICH and Sinoasia B&R (KZT 3.7 billion and KZT 3.4 billion, respectively).

In terms of paid claims in the segment, Sinoasia B&R is the leader (KZT 1.6 billion), followed by HALYK (KZT 1.2 billion), the source says.

*EUR 1 = KZT 488.87 (29.02.2024)