Kazakhstan
KAZAKHSTAN: new law is targeted at protection of interests of citizens and insurance market development
New law, signed in Kazakhstan, will let customers conclude insurance agreements via internet as well as apply to the insurance ombudsman in cases of disagreement with indemnities of any insurance types, wrote Interfax-Kazakhstan.
9 July 2018KAZAKHSTAN: A.M. Best Affirms Credit Ratings of Eurasia Insurance Company JSC
4 July 2018A.M. Best Affirms Credit Ratings of Eurasia Insurance Company JSC
A.M. Best has affirmed the Financial Strength Rating (FSR) of B++ (Good)/(stable outlook) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb+" (negative outlook) of Eurasia Insurance Company JSC (Eurasia) (Kazakhstan).
4 July 2018KAZAKHSTAN: gross premiums decline, life insurance is growing - show 5 months' result
Data for 5 months, published by the Kazakh National Bank, show growth slowdown of the insurance market, wrote the portal allinsurance.kz.
4 July 2018KAZAKHSTAN: EURASIA, NURPOLICY and Kommesk-Omir paid over KZT 3.3 billion under mandatory MTPL this year
According to the National Bank of Kazakhstan for 5 months this year paid claims under mandatory civil liability of car owners of the 3 leading insurers in this class (EURASIA, NURPOLICY, Kommesk-Omir) exceeded KZT 3.3 billion, wrote the portal allinsurance.kz.
4 July 2018KAZAKHSTAN: based on may result total assets of insurers increased by 7.6%
According to the results as of the end of May 2018 total assets of Kazakh insurers reached KZT 948.1 billion, y-o-y up by 7.6%. At that more than 40% is owned by TOP-3 biggest local insurance companies, informed the financial service Finprom.kz.
28 June 2018Farmers in Kazakhstan to be able to insure against risks of default on loans
26 June 2018KAZAKHSTAN: during five months paid claims in property insurance went up by 156% compared to the same period last year
According to the data of the National Bank of Kazakhstan paid claims in property insurance keep growing. For January-May they amounted to KZT 7 billion (vs KZT 2.7 billion a year ago) which means growth rate at 156% during a year.
25 June 2018Kazakhstan: introduction of imputed insurance is planned
The Chairman of the National Bank of Kazakhstan Daniyar AKISHEV explained about introduction of imputed insurance and expansion of the activity of the insurance ombudsman in the country.
20 June 2018Volume of premiums in Kazakhstan's tourism insurance sector decreases
13 June 2018Kazakhstan: since July 2017 Fund of social health insurance received almost KZT 71.9 billion
From July 1, 2017 to May 31, 2018 the Fund of social health insurance received about KZT 71.9 billion of premiums, as announced by the Fund. Only in May this year premiums amounted to KZT 8.5 billion. At that the current population of Kazakhstan is more than 18.2 million.
13 June 2018KAZAKHSTAN: 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.
13 June 2018Kazakh Standard Insurance ratings affirmed by A.M. Best before company leaving the agency's interactive rating process
A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Standard Insurance Company JSC (Standard) (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.
4 June 2018STATISTICS: KAZAKHSTAN, 1Q2018: rather moderate market growth rate, of about 2.8%
During Q1 2018 Kazakh insurers' GWP grew only by 2.78% y-o-y, while claims dropped by 13.44%. Life insurance saw the best growth rate (+13%), while non-life had a rather moderate increase (+1.19%), according to National Bank of Kazakhstan's data.
30 May 2018KAZAKHSTAN: for the Q1 property insurance dropped by 11%
Property insurance in Kazakhstan is accelerating rates of decline. During the Q1 the class generated premiums 11% less than a year ago. At that during the Q1 2017 this class decreased by 4%, as informed analytical service Finprom.kz.
29 May 2018KAZAKHSTAN: Eurasia insurance company covers Crimea bridge construction
Kazakhstan's Eurasia insurance company took part in reinsurance of construction and installation risks of the bridge construction project across the Kerch Strait with a share of responsibility of about 900 million rouble. On May 15, 2018, the Crimean Bridge was opened by the Russian President Vladimir Putin.
23 May 2018KAZAKHSTAN: the beginning of the year hit the record of MTPL payments
During the first 4 months of 2018 the Kazakh market reached new peak - more than 1,000 of MTPL payments per month to car owners by the market leader - EURASIA (vs around 600-700 monthly payments in 2017).
10 May 2018KAZAKHSTAN: A.M. Best Affirms Credit Ratings of JSC Insurance Company Centras Insurance
A.M. Best has affirmed the Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of "b-" of JSC Insurance Company Centras Insurance (Centras) (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.
26 April 2018KAZAKHSTAN: Kommesk-Omir says A.M. Best upgraded company's ratings, outlook Stable
A.M. Best international rating agency upgraded ratings of Insurance Company Kommesk-Omir - Financial Strength Rating from C++ to B- and the Long-Term Issuer Credit Rating from "b+" to "bb-". Outlook "Stable". According to ratings, Kommesk-Omir is one of top 5 insurance companies that operate in general insurance field.
26 April 2018KAZAKHSTAN: the market is expecting growth in 2018 based on March results
According to results of March the volume of insurers' net profit reached almost KZT 13 billion (EUR 33.14 million), a year ago this figure amounted to KZT 1 billion (EUR 2.96 million)* - said analytical portal about business and finance Finprom.kz.
26 April 2018
