Kazakhstan
KAZAKHSTAN: The share of life insurance in total assets exceeded 55%
The key indicators of life insurers in January-June 2025 recorded confident double-digit growth due to continued high demand for life insurance products, supported by legislation, wage growth (+10.7%), and institutional promotion of insurance products through digital services, according to a market review, published by the Association of Financiers of Kazakhstan.
11 August 2025KAZAKHSTAN: Over the past 10 years, the number of concluded pension annuity contracts has increased by more than 882%
According to the National Bank of the Republic of Kazakhstan, over the past 10 years, the number of concluded pension annuity contracts has increased by more than 882.7%.
5 August 2025STATISTICS: KAZAKHSTAN, 1H2025: the share of life insurance has grown to almost 37%
In 1H2025, the insurance sector of Kazakhstan grew by 20.16%, reaching KZT 906.61 billion (EUR 1.48 billion), according to the data published by the National Bank. It is noteworthy that in euro the market result was negative (-0.50%) due to a great difference in exchange rates compared to the first half of last year.
5 August 2025KAZAKHSTAN: demand for voluntary motor insurance is growing amid a rapid increase in traffic accidents and repair costs
In January-April of this year, 9.2 thousand traffic accidents were registered in Kazakhstan, which is 51.5% more y-o-y. The number of victims increased by 62.1% and reached 13.1 thousand people, according to the Committee on Legal Statistics and Special Accounts of the Prosecutor General's Office of the Republic of Kazakhstan.
25 June 2025KAZAKHSTAN: IMF statement highlights key risks for the insurance industry
The International Monetary Fund has published a statement following its mission to Kazakhstan, which notes continued high growth rate of the Kazakh economy, which is largely supported by large-scale investments in infrastructure, digitalization, agro-industrial complex and logistics. This generally creates a positive background for financial markets and institutions, including insurance companies, Allinsurance.kz writes.
11 June 2025KAZAKHSTAN: Life insurance market to grow at high rates in 2025
The first quarter of 2025 became a period of new records for the life insurance market in Kazakhstan. According to Freedom Life insurance company specialists, this segment is becoming an integral part of the financial strategy of an increasing number of Kazakhstanis, Allinsurance.kz writes.
21 May 2025KAZAKHSTAN: In January-March, life insurers' assets accounted for 56.5% on the insurance market
In January-March 2025, against the backdrop of continued high demand for life insurance products supported by legislative norms, double-digit growth in household incomes (+10.6%) and a gradual increase in financial literacy, there was an increase in all key indicators of the sector, except for net profit, according to a report, published by the Association of Financiers of Kazakhstan.
13 May 2025KAZAKHSTAN: In 1Q2025, the share of non-life insurance in total assets decreased to 46.2%
The growth of assets of non-life insurance companies in Kazakhstan slowed down against the background of a decrease in investment income and a more accelerated growth of paid claims over premiums. In 1Q2025, non-life assets increased by only 2.8% vs 6.2% in the same period in 2024, Forbes writes.
13 May 2025STATISTICS: KAZAKHSTAN, 1Q2025: double-digit growth in premiums and paid claims
At the end of the first quarter of 2025, the insurance sector of Kazakhstan grew by 20.54%, reaching KZT 441.83 billion (EUR 815.07 million). Both life and non-life insurance recorded double-digit growth rates (in tenge), according to data published by the National Bank.
5 May 2025KAZAKHSTAN: Implementation of digital platforms makes claim settlement faster and more convenient
Thanks to the DTP.kz platform, created by Freedom Insurance for accelerated processing of insurance payments, the average time for filing a claim is now only 15 minutes, which is significantly ahead of the standard period of 1 to 5 business days.
28 April 2025KAZAKHSTAN: Kazakhstan plans to introduce mandatory housing insurance against natural disasters
Kazakhstan plans to introduce mandatory housing insurance against natural disasters. This insurance will cover such risks as earthquakes, floods, high waters and forest fires, according to the advisory document of the regulatory policy, published on the portal "Open NPA (regulatory acts)", Kapital.kz reports.
22 April 2025KAZAKHSTAN: the number of road accidents increases by 55.2% in 1Q2025
The accident rate on Kazakhstan's roads has increased: 31.6 thousand road accidents were recorded in January-December 2024 - twice as many as in 2023, according to the ranking.kz portal.
22 April 2025KAZAKHSTAN: Nomad Insurance participates in the Walt Disney property risk reinsurance program
Nomad Insurance, which is among the top 10 insurers in Kazakhstan in terms of GWP, is participating in a reinsurance program, covering property risks of the world's largest media corporation The Walt Disney Company, the insurer writes.
15 April 2025KAZAKHSTAN: The number of concluded insurance contracts in February up by almost 41% y-o-y
In February 2025, the assets of the insurance sector increased by 1.0% to KZT 3.2 trillion (~EUR 6.08 billion), while the growth of assets since the beginning of 2025 amounted to 3.5% mainly as a result of the growth of income from insurance activities, the Agency for Regulation and Development of Financial Market of Kazakhstan reports.
8 April 2025KAZAKHSTAN: the insurance sector assets grow by 2.5% in January
Assets of insurance (reinsurance) organizations in Kazakhstan increased by 2.5% to KZT 3.2 trillion (~EUR 5.98 billion) in January 2025, mainly due to growth in income from insurance activities, the Agency for Regulation and Development of Financial Market of Kazakhstan reports.
24 March 2025KAZAKHSTAN: AFK: life insurance assets grew by 50% and net profit by 47% in 2024
In 2024, the life insurance segment led in terms of growth among all segments of the financial market in Kazakhstan.
3 March 2025KAZAKHSTAN: increase in charter capital to allow Nomad Insurance Group to continue expanding its operations at the international level
The charter capital of two companies of the Nomad Insurance Group — Nomad Insurance and Nomad Life — has been increased by KZT 15.5 billion (~EUR 28.36 million).
24 February 2025KAZAKHSTAN: AFK: non-life insurance accounts for 46% of insurance market assets and only 1.04% of GDP
Despite the reduction in the number of market participants, key indicators of non-life insurance in 2024 demonstrated moderate growth against the backdrop of high economic activity, acceleration of lending, and increased inflationary processes in the economy, the Association of Financiers of Kazakhstan (AFK) writes in its report.
19 February 2025KAZAKHSTAN: Total assets of the insurance sector in 2024 grew by 25%
In 2024, the assets of insurance (reinsurance) organizations in Kazakhstan increased by 25.3% to KZT 3.1 trillion (~EUR 5.67 billion). The increase in assets was mainly due to the growth of income from insurance activities, the International Information Agency DKnews.kz reports.
10 February 2025STATISTICS: KAZAKHSTAN, FY2024: almost 84% of all premiums are generated in voluntary insurance
According to the FY2024 results, the insurance sector of Kazakhstan grew by 41.38%, reaching KZT 1,679.48 billion (EUR 3.07 billion). More than 58% of all market premiums came from non-life insurance.
5 February 2025
