STATISTICS: KAZAKHSTAN, 3Q2016: Insurance companies reported GWP growth by 24.83% y-o-y

In 3Q2016, GWP reached KZT 277.02 billion (EUR 737.72 million), up by 24.83% y-o-y, while claims increased by 29.04%, to KZT 74.28 billion (EUR 197.82 million). In the reporting period, the market GWP increased mainly due to the following types of insurance: GTPL (v), Worker against accidents (c), MTPL (c), Financial losses (v), Property (v) and CARGO (v).

At the same time, a tendency of claims growth was seen during the last period, due to the growth of compensations paid on GTPL (v), Property (v), Motor Hull (v), Life insurance (v) and MTPL (c).

Despite the fact that only since January 2018 in Kazakhstan will be introduced compulsory social health insurance, the contributions of employees will start to be paid already from one year before. And, in case of unemployed the state would have to contribute.

Note: (v) - voluntary insurance / (c ) - compulsory insurance

Access www.xprimm.com and download the 3Q2016 Kazakh insurance market statistics.

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

Share |

Related articles

KAZAKHSTAN: S&P improved rating of EURASIA

Credit rating service of the international rating agency S&P Global Ratings on July 11 improved the issuer rating under the national scale rating of the insurance company EURASIA from kzAA- to kzAA+

2018-07-16

KAZAKHSTAN: insurers VICTORY and NURPOLICY started merger

Insurance company VICTORY, which is in terms of assets is the 2nd insurer in the country (KZT 83.7 billion), announced about consolidation with the insurer NURPOLICY (27th place in terms of assets of 32 insurers), a subsidiary of NURBANK.

2018-06-13

ON THE MOVE

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all