Kazakhstan
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Kazakhstan 3Q2020 Insurance Companies Rankings
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KAZAKHSTAN: for January, 2019 vehicle owners issued over 300 thousand of e-policies amid the aging fleet of the country
In Kazakhstan from January 1, 2019 an electronic form of policies was introduced for all types of compulsory insurance (except for insurance of employees against accidents and crop insurance), as allinsurance.kz wrote.
14 February 2019KAZAKHSTAN: GWP of the export insurance company KazakhExport in 2018 went up by more than 40% y-o-y
GWP of the export insurance company of Kazakhstan, according to the monitoring agency Finprom.kz, in 2018 amounted to KZT 2.7 billion, which is 40.8% more y-o-y. This is the maximal result ever reached by the company, as Allinsurance.kz wrote.
7 February 2019KAZAKHSTAN: the license of Kompetenz insurance company for re/insurance activity revoked
The National Bank of Kazakhstan revoked the license of Kompetenz for re/insurance activity from February 1, 2019 due to repeated suspension of its license, as Allinsurance.kz informed.
7 February 2019KAZAKHSTAN: in 2018 motor insurance generated over 30% of non-life premiums
Based on 2018 result, motor insurance (MTPL and MoD) generated over 30% of non-life GWP. At that, according to the statistics of the National Bank, MTPL segment last year saw a significant concentration growth - TOP-5 generated 66.5% of GWP vs 47.6% in 2017 (total growth of MTPL amounted to 23% y-o-y).
7 February 2019STATISTICS: KAZAKHSTAN, FY2018: non-life dropped by almost 3%, while life keeps strengthening
For 2018 Kazakh market increased by about 4%, total GWP amounted to KZT 384.8 billion (EUR 875.9 million). However, data denominated in European currency saw an opposite trend, showing a market decline by 5.77%, as statistical figures of the National Bank of Kazakhstan show.
30 January 2019KAZAKHSTAN urgently looking for bank to take over Tsesnabank
29 January 2019KAZAKHSTAN's National Bank identifies microfinance, insurance organisations' 2018 violations
29 January 2019KAZAKHSTAN: Unit-Linked may become a new market driver
Staring January 1, 2019 Kazakh life insurers may offer Unit-Linked products, charging an insurance fee that will depend on the investment results. Also this year insurance companies may get an investment broker license, as explained the Deputy chairman of the board of Nomad Life, Askar SHAKENOV.
25 January 2019Kazakh National Bank announces tender for voluntary vehicle insurance
21 January 2019KAZAKHSTAN: New chairmen of Finance Ministry's committees named
21 January 2019KAZAKHSTAN: Eurasia increases insurance premiums collection by 24.2% in 2018
18 January 2019KAZAKHSTAN: total amount of administrative fines against non-life insurers in 2018 reached KZT 173 million
According to the National Bank of Kazakhstan, in 2018, 18 out 20 existing insurers fell under the regulator's sanctions. 167 measurers were applied mostly in the form of administrative fines for non-life insurers in 2018 and reached a record amount of KZT 173 million.
18 January 2019KAZAKHSTAN: in December 2018 insurers' assets exceeded KZT 1 trillion
According to the Association of Financiers of Kazakhstan, for 11 months in 2018 the insurers' assets went up by 8.6%, and by the beginning of December they exceeded KZT 1 trillion amounting to KZT 1,004.8 billion.
18 January 2019KAZAKHSTAN: as of December 1, 2018 insurers' assets exceeded KZT 1 trillion while total market GWP dropped by 5.7%
For the first time insurers' assets exceeded KZT 1 trillion. As of December 1, 2018 total assets amounted to KZT 1.004 trillion (+7.5% y-o-y), as allinsurance.kz wrote.
10 January 2019KAZAKHSTAN: for Jan-Nov 2018 the Motor Hull market share went up by 12% y-o-y
According to the National Bank of Kazakhstan as of December 1, 2018 the Motor Hull market share went up by 12% y-o-y, at the same time total number of the insured vehicles dropped by 4.5 % y-o-y, as allinsurance.kz informed.
10 January 2019KAZAKHSTAN: for 11 months in 2018 the market concentration increased by almost 14% y-o-y
The Kazakh insurance sector keeps concentrating. As of December 1, 2018 the share of TOP-5 companies in general insurance GWP increased by 13.9 percentage points y-o-y, reaching 68.3% (vs 54.4% a year ago), as allinsurance.kz informed.
10 January 2019Kazakh National Bank branch announces tender for voluntary vehicle insurance
2 January 2019KAZAKHSTAN: GWP of professional liability insurance dropping against paid claims growth in the segment
GWP of compulsory insurance classes went up, overall, by 9.3% y-o-y, in the first ten months of 2018, although all major types of compulsory professional liability insurance demonstrate a rather strong decrease, according to the data of the National Bank of Kazakhstan.
20 December 2018KAZAKHSTAN: motor insurance accounts for over 30% of the market portfolio, while about a quarter of all vehicles in the country are not insured
Motor insurance lines in Kazakhstan (compulsory MTPL and Motor Hull conjunctively) account for over 30% in the market non-life portfolio, according to the 10 months results; at that about 24% of the registered vehicles are not insured, as Allinsurance.kz wrote.
12 December 2018KAZAKHSTAN: paid claims by the six biggest insurers account for over 57% of the market, 10 months statistics show
GWP as of the end of October amounted to KZT 317.7 billion (+1.9% y-o-y), according to Ranking.kz, as Allinsurance.kz informed. Paid claims throughout the same period increased by 9.9% y-o-y, to KZT 77.9 billion
12 December 2018XPRIMM Newsletter
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