STATISTICS: KAZAKHSTAN, 1Q2016: Insurance industry grew by 31.54%

In the first quarter of 2016, the local insurance industry grew by 31.54%, totaling KZT 95,367.46 million, according to official data provided by the National Bank of Kazakhstan.

The the Kazakh market remained highly concentrated, with Top 5 insurance companies accounting for almost half of the business volume, most of the GWP growth was provided by the top companies, especially by EURASIA and HALYK-KAZAKHINSTRAKH, ranked first and second, which have generated about ine third of the market growth in absolute terms. Property insurance, financial losses insurance, GTPL and Workers insurance against accidents were the business lines witnessing the best dynamics.

Based on the figures we can assume that the positive evolution was stemmed by the larger number of insurance contracts concluded by several companies, as well as by the revaluation of insurance premiums in/from foreign currency.

Access and download the 1Q2016 Kazakh insurance market statistics.

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

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