STATISTICS: KAZAKH insurers up by 8.7% in the first quarter

Kazakh insurers reported an 8.7% increase of GWP in the first three months of 2015 reaching KZT 72.5 billion (approximately EUR 360 million), according to the market statistics published on the National Bank website. Due to the appreciation of KZT/ EUR exchange rate by almost KZT 50 per EUR, in European currency - the calculated market growth rate was 35%. In the analyzed period, the value of paid claims totaled KZT 20.5 billion (more than EUR 100 million), up by 25.4% y-o-y.

The aggregate GWP portfolio consisted of 78.8% - voluntary insurance classes (of which 27% - property insurance) and 21.2% - compulsory policies (of which 6.8% - insurance of the worker upon accidents).

Top five Kazakh insurers generated 46.8% of total GWP as follows: EURASIA (18.4%), HALYK-KAZAKHINSTRAKH (13.2%), EUROPEAN Insurance Company (ex. PPF Insurance - 5.3%), NOMAD Life and HALYK Life - 4.9% each.

Access www.xprimm.com and download the 1Q2015 Kazakh insurance market statistics.

Market indicators and market ranking (in EUR and KZT):
  • GWP
  • Claims 
  • Growth rates
  • Portfolio
Market ranking (in EUR and KZT):
  • GWP
  • Claims
  • Growth rates
  • Market shares

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