KAZAKHSTAN: investments in the financial and insurance sector declined by more than 11% from Jan-Aug, while insurer assets grew by 8%

For 8 months of this year, investments in the financial and insurance sector amounted to KZT 37.1 billion (-11.5% y-o-y). The largest part, almost 100%, of those investments were provided by owners' equity and retained earnings of the businesses, as Finprom.kz reported.

In total, the volume of investments in all the country's industries the share of the financial and insurance of only 0.6%. This share never exceeded 1% during the last years. Owners' equity and retained earnings are a constant main source of investment. The share of borrowed funds is decreasing. For January-August 2018 it reached only 0.04% (vs. 1.6% a year ago).

At the same time, assets of Kazakh insurers went up by 8% y-o-y for the 8 months of this year and reached almost KZT 1 trillion (KZT 995.2 billion). About 60% of all assets are owned by the TOP-5 insurance companies, according to the data of the analytical service Finprom.kz.

As market statistics show, for the last three years, insurer assets have been growing steadily (as of the end of August 2013, total assets amounted to KZT 524.3 billion, as of the end of August 2016 were KZT 847.6 billion, an additional 61.7%), and the average annual growth rate of insurance assets for the last five years reached 14.9%.

The market leaders in terms of asset size are EURASIA (KZT 249.5 billion), KHALYK-Kazakhinstrakh (KZT 91.8 billion), VICTORY, NOMAD LIFE, and KHALYK-Life. In terms of asset growth rate, the leading company, as of the end of August this year, is ASIA-Life (2 times more y-o-y).

*for approximate calculation

EUR 1 = KZT 424.16 (31.08.2018)

EUR 1 = KZT 202.70 (31.08.2013)

EUR 1 = KZT 379.01 (31.08.2016)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Moves on the Kazakh insurance market under the scrutiny of A.M.Best

A.M. Best will evaluate the impact that the merger transaction between the Kazakh Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) and JSC IC Kazkommerts-Policy, on August 29, 2018, had on Kazakhinstrakh's Credit Rating.



Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.



Five new XPRIMM insurance reports to be launched in Baden Baden

Five new titles will be available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.


Croatian Insurance Days 2018 - Registration opened online

The 2018 edition of the "Croatian Insurance Days" will be held in Opatija, Croatia, on November 7-9, 2018. Organized by the Croatian Insurance Bureau, with the support of the Croatian Ministry of Finance, the conference will have, as usual, a rich and very informative program, also providing for extended networking opportunities.


ICAR Forum 2018: Main conclusions

The 15th edition of ICAR - The International Catastrophic Risks Forum, taking place in Bucharest, Romania, on 9 October, touches issues of paramount concern.


The 10th International Istanbul Insurance Conference started today

In emerging markets like Turkey, there can be a significant difference between insured and total insurable losses.
Focusing on closing the protection gap, the 10th International Istanbul Insurance Conference gathers in Istanbul, between the 4th and the 5th of October 2018, well-known speakers from Turkish and the global insurance & reinsurance markets.



LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.



LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.


See all