As of November 1^st, 2019, the share of TOP-5 MTPL insurers out of 17 companies, licensed for this insurance type, amounted to 71.1% of total MTPL GWP volume (vs. about 66% a year ago), indicating increasing concentration in this market, Allinsurance.kz reports based on the National Bank data.

At the same time, in Motor Hull insurance, the share of TOP-3 companies in total GWP of this voluntary segment grew even more significantly, to 67.8% (vs. 45.8% a year ago).

In Kazakhstan insurance market, the motor lines bring over a third of non-life GWP, with impressive growth in premiums yearly.

According to experts, the high concentration in MTPL indicates the presence of large players, leading in terms of GWP by a huge margin from the rest, and mainly due to attracting customers though agents.

As of November 1^st, 2019, expenses for remuneration to agents in the whole market increased by 37%, to KZT 67.1 billion (EUR 154.67 million), which is equal to 16.1% of total GWP. A significant stake from that amount is generated by MTPL.

Also, a strong positive effect on motor insurance is provided by MTPL for non-residents, where agent remuneration reaches 60% of premiums, while the share of paid claims in premiums keeps being rather small - no more than 5%.

*EUR 1 = KZT 433.83 (01.11.2019)