Kazakhstan
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Kazakhstan 1Q25 Insurance Companies Ranking
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AM Best Affirms Credit Ratings of Halyk Insurance Company of Halyk Bank of Kazakhstan, JSC
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" of Halyk Insurance Company of Halyk Bank of Kazakhstan, JSC (Halyk Insurance) (Kazakhstan). The outlook of these Credit Ratings (ratings) is negative.
7 January 2021KAZAKHSTAN: Basel Insurance assigned 'B' ratings by S&P, outlook stable
S&P Global Ratings assigned on December 21 its 'B' long-term insurer financial strength and issuer credit ratings and 'kzBB+' national scale rating to Kazakhstan-based Basel Insurance company. The outlook is stable, the agency's press-release said.
22 December 2020KAZAKHSTAN: Daniyar ZHANBEKOV to become the new owner of Basel insurance company
The Agency for Financial Supervision of Kazakhstan issued a consent to businessman Daniyar ZHANBEKOV to acquire the status of a major participant in the Basel insurance company (ex. Kaspi Insurance). The sale should end no later than March 31, 2021, Allinsurance.kz reports according to Zakon.kz.
15 December 2020KAZAKHSTAN: Fitch Ratings: the market is largely recovering after difficult second quarter
After a decline in 2Q2020, the insurance market of Kazakhstan is demonstrating resilience to the effects of the pandemic crisis with GWP largely recovering in 3Q2020, as Fitch Ratings noted in the report, published on November 12.
17 November 2020STATISTICS: KAZAKHSTAN, 3Q2020: Over 60% of GWP growth was provided by life insurers
During the first three quarters of 2020, the GWP volume in Kazakhstan insurance market increased by 8.5% y-o-y, to KZT 411.3 billion (~EUR 819 million*), according to data published by the country's National Bank. At the same time, over 60% of the market GWP growth was provided by life insurers, their share in the market premiums increasing by 2.1 percentage points to 38.5%.
12 November 2020KAZAKHSTAN: Insurers' January-September income increased by almost 25% y-o-y
From January to September 2020, the income of insurers in Kazakhstan increased by 24.6% y-o-y, to KZT 428.6 billion (~EUR 0.85 billion*), Allinsurance.kz reports.
11 November 2020KAZAKHSTAN: the share of civil liability insurance of tour operators and travel agents in compulsory insurance due to the crisis decreased to 0.5%
Civil liability insurance of tour operators and travel agents in Kazakhstan for January-August 2020 decreased fourfold y-o-y and the segment's share in the total compulsory GWP dropped from 2.3% to 0.5%, which is explained by the impact of restrictions imposed due to the pandemic, Allinsurance.kz informed.
28 October 2020KAZAKHSTAN: Fitch: Kazakhmys Insurance's IFS affirmed at 'BB-', Outlook Negative
Fitch Ratings has affirmed Insurer Financial Strength (IFS) Rating at 'BB-' and National IFS at 'BBB+(kaz)' (outlooks negative) of the Kazakhmys Insurance Company (Kazakhstan), according to the agency's report, published on October 16.
20 October 2020KAZAKHSTAN: almost half of the compulsory employee accident insurance GWP comes from two life insurers
Almost half of the premiums under compulsory employee accident insurance in Kazakhstan from January to August 2020 were collected by two companies - NOMAD Life and HALYK-Life, allinsurance.kz reported.
20 October 2020KAZAKHSTAN: for 8 months of 2020, voluntary personal accident insurance increased by 18% y-o-y
From January to August 2020, voluntary personal accident insurance in Kazakhstan increased by 18% compared to the same period in 2019, Allinsurance.kz reports.
29 September 2020KAZAKHSTAN: New bill concept provides a number of long-awaited changes for the insurance market next year
The insurance market regulator came up with an initiative to develop a draft law "on amendments and additions to certain legislative acts of the Republic of Kazakhstan on regulation and development of the insurance market and securities market" in order to update the legislation and make changes on problematic market issues, according to the Association of Financiers of Kazakhstan (AFK).
9 September 2020KAZAKHSTAN: Voluntary health insurance increased by 7% y-o-y in 1H2020
In 1H2020, GWP under voluntary health insurance amounted to KZT 22.2 billon (~EUR 49 million*), which is 7% more y-o-y. The share of the class in voluntary personal insurance reached 22.1%. At the same time, paid claims under voluntary health insurance decreased by 15.2%, to KZT 10.3 billion, Allinsurance.kz reports.
27 August 2020STATISTICS: KAZAKHSTAN, 1H2020: Voluntary insurance increased by more than 13% y-o-y, while compulsory segments decreased slightly
In 1H2020, the insurance market of Kazakhstan grew by 10% y-o-y (in local currency), the overall market GWP amounting to about KZT 280.48 billion (~EUR 616 million*).
20 August 2020KAZAKHSTAN: net profit of insurers in the first half of 2020 increased by 80% y-o-y
In 1H2020, insurance companies of Kazakhstan generated a total profit (before corporate income tax) worth KZT 70.7 billion (~EUR 0.16 billion*), which is 67.9% more y-o-y, Allinsurance.kz reports according to ranking.kz portal.
11 August 2020KAZAKHSTAN: 98% of life insurance paid claims fell on three companies during January-May
From January to May 2020, the overall GWP of the Kazakh life insurers increased by 4.1% year-on-year, to KZT 27.5 billion (~EUR 60 million*), while paid claims jumped by almost 75% y-o-y. At the same time, the share of life insurance in the market portfolio slightly decreased (-0.6%), to 12.1%, as Allinsurance.kz reports pointing to the data of ranking.kz portal.
3 August 2020KAZAKHSTAN: for the first five months of 2020, traffic accident rate decreased by more than 26% y-o-y
For the period from January to May 2020, according to the Statistics committee at the Ministry of National Economy of the Republic of Kazakhstan, the total number of registered traffic accidents amounted to 4,178 cases.
23 July 2020KAZAKHSTAN: in January-May 2020 over a quarter of total insurers' income came from investment activity
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.
30 June 2020KAZAKHSTAN: January-April life insurance GWP increased by almost 16% y-o-y
From January to April 2020, life GWP amounted to KZT 23.6 billion (~EUR 51.2 million*), which is 15.7% more y-o-y, Allinsurance.kz informed according to ranking.kz. portal.
29 June 2020STATISTICS: KAZAKHSTAN, 1Q2020: life insurance GWP grew by almost 55% y-o-y
In 1Q2020, the Kazakhstani insurance market showed an impressive growth in local currency both in total GWP (+36.1%), and separately in the life sector (+55.0%) and non-life (+31.3%), according to the data, published by the National Bank. The positive trend was seen in EUR currency too, the overall market GWP increasing by 16.2%.
25 June 2020Kazakhstan's Oil Insurance Co. 'B+','kzBBB' ratings affirmed, despite challenging operating environment; outlook stable
S&P Global Ratings today affirmed its 'B+' long-term insurer financial strength and issuer credit ratings on Kazakhstan-based insurer Oil Insurance Co. (NKS). The outlook is stable. At the same time, we affirmed our 'kzBBB' Kazakhstan national scale rating on NSK.
25 June 2020
