As of November 1, 2022, in the structure of assets, the largest share (70.5%) fell on securities - KZT 1.4 trillion, while cash and deposits in second-tier banks amounted to KZT 135 billion (6.6%), insurance receivables - to KZT 83 billion (4.0%).
Liabilities of the insurance sector for 10 months of 2022 increased to KZT 1.3 trillion (+16.3%). Equity capital amounted to KZT 775 billion, mainly increased due to profit from insurance activities. Net profit since the beginning of 2022 amounted to KZT 117.3 billion. Since the beginning of 2022, the number of concluded insurance contracts amounted to 10,345,096 units, which is 6.3% more compared to the same period in 2021. The main growth is accounted for by third party liability insurance contracts of vehicle owners, travel insurance and health insurance.
GWP under insurance (reinsurance) contracts for 10 months of 2022 amounted to KZT 642 billion/~EUR 1.38 billion, which is 12.9% more y-o-y. The main drivers of growth are the classes of compulsory insurance and voluntary property insurance.
Since the beginning of the year, compulsory insurance has reached KZT 140 billion, which is 29.5% more y-o-y. The increase occurred mainly in insurance of employees against accidents (+61.3%). GWP in voluntary personal insurance for 10 months of 2022 amounted to KZT 234.2 billion (-4.5%). The decrease was mainly due to a decline in pension annuities. Voluntary property insurance since the beginning of 2022 amounted to KZT 268.2 billion (+24.2%). Growth was mainly provided by classes of property damage insurance and civil liability insurance.
Paid claims for 10M2022 reached KZT 149 billion, which is 51.7% more than in the same period last year. The increase was mainly due to an increase in payments for insurance of loans and civil liability of vehicle owners.
*EUR 1 = KZT 464.31 (01.11.2022)
670 views
