The MTPL market in Kazakhstan in January-March 2024 amounted to KZT 24.9 billion (~EUR 51.68 million), which is 12.6% less y-o-y. Also, the leader in this segment has changed, Allinsurance.kz writes.
The segment’s share in the market portfolio decreased over the year from 9.9% in January-March 2023 to 6.8% in January-March this year. At the same time, its share in total compulsory insurance premiums amounted to 41.2%.
Among insurance companies in terms of GWP in the segment in 2024, Jusan Garant took the lead, collecting KZT 5 billion (+5.4%). Second place is occupied by Eurasia (about KZT 4.7 billion), having halved the volume from the previous year, and NOMAD Insurance is in third place.
MTPL paid claims increased by 17.2% y-o-y, amounting to KZT 17.7 billion (~EUR 36.73 million) for January - March 2024. It is noted that despite this, the segment’s share in total paid claims on the market decreased from 29.4% to 26.2%, and in compulsory paid claims - from 79.3% to 65.6%.
Among insurance companies in terms of MTPL paid claims, Eurasia ranks first (KZT 5.3 billion, +6.2%). Jusan Garant comes next (KZT 3.6 billion, +61.5%), and third place is occupied by Halyk (KZT 2.5 billion, +22.1%), the source writes.
*EUR 1 = KZT 481.81 (March 31, 2024)
