KAZAKHSTAN: from January to April, voluntary insurance of property increased by almost 8% y-o-y

25 June 2024 — Marina MAGNAVAL
Voluntary insurance of property in Kazakhstan from January to April 2024 increased by 7.9% y-o-y and amounted to KZT 98.9 billion (EUR 208.28 million). It is noted that a year earlier the growth of the segment was 13.1%, Allinsurance.kz writes.

At the same time, the share of voluntary insurance of property in total market premiums decreased from 23.7% to 19.9%.

Paid claims in voluntary insurance of property decreased by 22.9% y-o-y, amounting to KZT 15.2 billion in January - April 2024, although a year earlier paid claims in the segment saw an increase of 2.8 times.

The share of voluntary insurance of property in total market paid claims decreased from 24.7% to 15.3%.

It is noted that over half of all premiums in the segment in January-April was collected by EURASIA (KZT 54.8 billion), followed by HALYK (KZT 26.5 billion). EURASIA also leads in paid for voluntary insurance of property (KZT 13.2 billion).

*EUR 1 = KZT 474.87 (as of 30.04.2024)