FITCH Ratings affirmed Kazakhstan's long-term foreign-currency issuer default rating (IDR) at 'BBB" with a Stable Outlook which reflects strong public and external balance sheets due to large government savings and a substantial sovereign net foreign asset position.

S&P Global Ratings assesses industry and country risk in the Kazakh non-life sector (-/Stable/-3) as moderate, which reflects high country risk resulting from a highly centralized political environment and moderate GDP growth.

Insurance market of Kazakhstan saw growth in the beginning of the year. Overall written premiums grew by 69.7%, while in the same period of 2017 also had an up-trend by 49.6%, - says Kazakh internet data portal Allinsurance.kz.

A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Insurance Company London-Almaty JSC (London Almaty) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable.

On March 3, 2018 Oil Insurance's (NSK) license to write obligatory insurance business was suspended for three months, following procedural violations and capital adequacy breaches the previous year.

FITCH Ratings assigned Kazakhstan-based Life Insurance Company STANDARD Life an Insurer Financial Strength (IFS) Rating of 'B' and a National IFS Rating of 'BBB-(kaz)'. The Outlooks are Stable.

In 2018 Kazakh market is expecting significant changes, according to the Chairman of the Management Board of the life insurer NOMAD Life and participant of the commission on amendment of insurance legislation, Kayrat CHEGEBAEV.

On 19-20 April, 2018, leading world risk management experts will address the Kazakhstan's audience at the annual XIV International Risk Management Conference held by Eurasia IC JSC in Almaty at The Ritz-Carlton Hotel.

The Kazakh insurance market totaled KZT 370.17 billion (about EUR 930 million) in 2017 up by 3.72% than a year before, as showed by the year-end figures published by NBK.

A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" of Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) (Kazakhstan).

S&P Global Ratings revised its outlook on Kazakh Grain Insurance Co. JSC to stable from developing. At the same time, S&P affirmed 'B' long-term issuer credit and insurer financial strength ratings, as well as 'kzBB+' national scale rating on the company.

A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of JSC IC Kazkommerts-Policy (Kazkommerts-Policy) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable. Kazkommerts-Policy is a majority owned subsidiary of JSC Kazkommertsbank (Kazkommertsbank), which in turn is owned by JSC Halyk Bank (Halyk Bank), a leading retail bank in Kazakhstan.

Fitch Ratings has affirmed Kazakhstan-based JSC Insurance Company AMANAT's Insurer Financial Strength (IFS) Rating at 'B' and National IFS Rating at 'BB+(kaz)' and removed them from Rating Watch Negative (RWN). The Outlooks are Stable.

In 3Q 2017, the GWP of local insurance market have grown slightly by 4.41%, to KZT 289.23 billion. On the non-life insurance side, Motor Hull, CARGO and financial losses classes saw decreasing GWP volumes.

Fitch Ratings has assigned Kazakhstan-based Joint-Stock Company Life Insurance Company ASIA Life (ASIA Life) an Insurer Financial Strength (IFS) Rating of 'B' and a National IFS Rating of 'BB+(kaz)'. The Outlooks are Stable.

Chairman of the National Bank of the Republic of Kazakhstan, Daniyar Akishev, presented the draft law "On amendments and additions to certain legislative acts of the Republic of Kazakhstan on insurance and insurance activities" in the Government of the Republic of Kazakhstan.

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 (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.

Whilst clients will welcome more clearer and comprehensible insurance conditions and a transparent approach from insurers, too much and complex information may reduce the willingness and ability of the consumer to process it, Czech insurers warn.

The Kazakh insurance market has seen a y-o-y GWP growth of 3.28% in 1H2017, reaching a total of KZT 204.43 billion. On the non-life insurance side, property, motor insurance, carriers' liability and financial losses classes saw decreasing GWP volumes.