Halyk Insurance, one of Kazakhstan's top five insurance companies, and China Pacific Property Insurance (CPPIC), one of China's largest insurance companies, have agreed to a partnership by signing a memorandum of understanding, kapital.kz reports.

The document marks an important step in strengthening financial cooperation between Kazakhstan and China and outlines strategic areas for joint work in the insurance and reinsurance sectors.

CPPIC is a leading player on China's insurance market, with over 30 years of experience developing its property insurance business. The company is among the top three in the industry, and in the first quarter of 2025 alone, it collected over CNY 63 billion.

The companies intend to jointly develop insurance projects aimed at supporting businesses and private clients. The primary focus will be on creating solutions for major initiatives and international cooperation, as well as sharing experiences to improve service quality. This will help businesses and private clients obtain reliable protection amid the rapidly growing trade and investment ties between Asia and Europe.

Representatives of both companies expressed confidence that this cooperation will contribute to strengthening financial stability, improving the quality of insurance services, and developing international partnerships. Halyk Insurance celebrates its 30th anniversary this year and has already proven its reliability on the Kazakhstan market. The partnership with CPPIC strengthens its position as a leader prepared for global challenges, the source added.