KAZAKHSTAN: in January-May 2020 over a quarter of total insurers' income came from investment activity

30 June 2020 — Marina MAGNAVAL
Income of local insurers from Kazakhstan increased by 20.1% y-o-y and reached KZT 212.1 billion (~EUR 0.46 billion*) between January - May 2020. At the same time, expenses increased by only 5.8% (to KZT 149.4 billion), Allinsurance.kz reports based on the data of ranking.kz portal.

A bit over a quarter (25.1% or KZT 53.3 billion, vs. 15.7% a year ago) of the total insurers' income came from their investment activities, income which grew by 92% y-o-y. Insurance companies' income from insurance activity increased only by 6.8%, to KZT 158.1 billion, its share in the portfolio of insurers' total income decreasing by about 9%, as well as the share of income from other activities.

Net income (after taxes) for January-May 2020 increased by 93.2%, to KZT 58.5 billion. Retained earnings of insurers by the end of May grew by almost 99% y-o-y (to KZT 59.6 billion). In terms of retained earnings, EURASIA is the market leader (KZT 23.8 billion).

* EUR 1 = KZT 458.13 (as of 1 June 2020)

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