KAZAKHSTAN: for 8 months of 2020, voluntary personal accident insurance increased by 18% y-o-y

29 September 2020 — Marina MAGNAVAL
From January to August 2020, voluntary personal accident insurance in Kazakhstan increased by 18% compared to the same period in 2019, Allinsurance.kz reports.

GWP in the segment reached KZT 14.3 billion (~EUR 28.63 million*), and the share in total GWP collected under voluntary personal insurance grew from 9.2% to 10.2% y-o-y.

The segment's paid claims in January-August increased by 70.9% y-o-y, to KZT 1.3 billion, and the share in paid claims under the voluntary personal insurance increased from 2.7% 4.4%.

In terms of premiums, collected for the period under accident insurance, the leader is HALYK-Life (KZT 2.4 billion, -32.2%). The second place is taken by EURASIA (KZT 2.3 billion), third - by KM Life (KZT 2 billion). It should be mentioned that the GWP volume of KZT 2 billion was also hit by the life insurance company - Freedom Finance Life.

EURASIA is the leader of paid claims in the segment (KZT 478.8 million, which is 11 times more y-o-y), followed by HALYK-Life (KZT 260.4 million) and NOMAD Life (KZT 221.4 million).

* for the following exchange rate:
EUR 1 = KZT 499.47 (as of 31.08.2020)

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