KAZAKHSTAN: January-April life insurance GWP increased by almost 16% y-o-y

29 June 2020 — Marina MAGNAVAL
From January to April 2020, life GWP amounted to KZT 23.6 billion (~EUR 51.2 million*), which is 15.7% more y-o-y, Allinsurance.kz informed according to ranking.kz. portal.

At the same time, the share of life insurance in voluntary personal insurance increased to 35.4%, while the share in total market GWP slightly decreased to 12.2%.

Life paid claims jumped by 79.2%, to KZT 1.1 billion. Thus, the share of life paid claims in voluntary personal insurance paid claims increased to 7.7%, and the share in total market paid claims also went up a bit reaching 1.5%.

The leader in terms of life GWP was HALYK-Life (KZT 9.6 billion, +3.3%), followed by NOMAD Life (KZT 6.8 billion, +56.4%), and European Insurance Company (KZT 5.7 billion, -6.6%). In terms of life paid claims, European Insurance Company was the leader in TOP-3 group (KZT 463.7 million). Total number of insurers working in the life market of Kazakhstan is 8.



* EUR 1 = KZT 461.13 (as of 1 May 2020)

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