Voluntary personal insurance was the key driver of the market growth, with premiums in the segment reaching KZT 675.8 billion at the end of October (up 7.9% year-on-year). This growth was primarily due to an increase of 8.6% in pension annuity insurance and a 14.3% increase in life insurance.
Voluntary property insurance from January to October 2025 amounted to KZT 451.3 billion (up 19.3%). The growth was primarily driven by a 17.4% increase in property damage insurance.
Compulsory insurance for the period under review totaled KZT 219.2 billion, which is 6.2% more y-o-y. This increase was primarily driven by compulsory MTPL, which increased by 17.9% to KZT 98.3 billion.
The number of insurance contracts concluded since the beginning of 2025 amounted to 20.2 million units (+6.5%), with the main growth coming from life insurance contracts (106.9%).
Total paid claims from January to October 2025 reached KZT 365.0 billion (~EUR 0.60 billion), which is 36.9% more y-o-y. This increase was primarily driven by a 45.1% rise in paid claims for voluntary property insurance to KZT 118.3 billion.
As of November 1, 2025, 25 insurance companies operated in Kazakhstan's insurance sector, 10 of which were life insurers. Insurers' assets increased by 19.8% from January to October, reaching KZT 3.7 trillion at the end of October. As of November 1, securities made up the largest share of assets - 72.8% or KZT 2.7 trillion.
Insurance sector liabilities increased by 21.0% from January to October, reaching KZT 2.6 trillion at the end of October. Equity capital at the end of October amounted to KZT 1.1 trillion (+17.0%). Net profit in the insurance market from January to October amounted to KZT 227 billion, the source said.
* 1 EUR = 609.47 KZT (November 1st, 2025)
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