From the beginning of 2025 to the end of August, GWP in Kazakhstan amounted to KZT 1.1 trillion (~EUR 1.75 billion), which is 14.9% more y-o-y, according to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market.

The main driver of the market growth is voluntary property insurance, which from the beginning of 2025 to the end of August amounted to KZT 387.9 billion (+19.1%). This growth was primarily due to a 91.0% increase in other financial loss insurance and a 14.7% increase in property damage insurance.

Voluntary personal insurance for the period under review reached KZT 542.2 billion (+15.2%) primarily due to a 10.9% increase in pension annuity insurance to KZT 227.5 billion and a 19.3% increase in life insurance to KZT 160.3 billion.

Compulsory insurance, from the beginning of the year through the end of August, totaled KZT 180.1 billion (+5.9%), primarily driven by compulsory motor third-party liability insurance, which increased by 19.3% to KZT 68.4 billion.

The number of insurance contracts concluded for individuals and legal entities since the beginning of 2025 amounted to 17.2 million units, which indicates a 16.2% y-o-y increase. Life insurance contracts contributed the most (107.9%).

Paid claims from the beginning of 2025 to the end of August amounted to KZT 282.0 billion (~EUR 0.45 billion), which is 39.0% more y-o-y. This increase was primarily due to a 59.7% rise in voluntary property insurance paid claims to KZT 92.0 billion.

As of September 1, 2025, the insurance sector in Kazakhstan was represented by 25 insurance organizations, 10 of which operate in life insurance.

Insurers' assets from the beginning of 2025 to the end of August increased by 17.8% to KZT 3.7 trillion tenge, primarily thanks to increased insurance revenue and investments in securities. As of September 1, 2025, securities made up the largest share of assets – 73.1% (KZT 2.7 trillion).

Insurance sector liabilities increased by 19.2% over the period, reaching KZT 2.6 trillion. Equity increased by 14.4% to KZT 1.1 trillion, mostly due to improved net profit for the reporting period. Net profit of insurers from the beginning of 2025 to the end of August amounted to KZT 188.6 billion tenge, the Agency said.

*EUR 1 = KZT 628.14 (as of September 01, 2025)