Kazakhstan
KAZAKHSTAN: Voluntary personal insurance supported market growth from January to October
The insurance market of Kazakhstan from January to October 2025 amounted to KZT 1.3 trillion (~EUR 2.13 billion), which is 11.2% more y-o-y, Allinsurance.kz writes, citing a report from the Association of Financiers of Kazakhstan.
11 December 2025KAZAKHSTAN: Life insurers' net profit nearly doubled in 9M2025
The life insurance sector continued to accelerate, driven by robust demand for voluntary personal insurance products, rising wages and employment, active digitalization of the industry, and overall improved insurance literacy.
3 December 2025KAZAKHSTAN: Igor Yakovenko re-elected as insurance ombudsman
On November 7, 2025, by decision of the Commission of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, Igor Yakovenko was re-elected as insurance ombudsman for a three-year term, the Agency reports.
25 November 2025KAZAKHSTAN: Life insurance is growing rapidly, yet penetration remains very low
Life insurance in Kazakhstan is growing rapidly, but in terms of population coverage and economic share, the country still lags significantly behind developed and even many developing countries, as insurance market data and analysis by the National Bank show, Finratings.kz reports.
10 November 2025STATISTICS: KAZAKHSTAN, 3Q2025: Claims growth more than doubles premium growth
Kazakhstan's insurance sector grew by 15.70% in the first three quarters of 2025, reaching KZT 1.4 trillion, according to data published by the National Bank. Notably, due to exchange rate fluctuations compared to the same period last year, the market result in euro is negative (-3.74%/EUR 2.17 billion).
10 November 2025KAZAKHSTAN: S&P upgrades Nomad Life to BBB- with Positive Outlook
S&P Global Ratings has upgraded Nomad Life, Kazakhstan's largest life insurance company, to BBB- with a positive outlook. The company has thus achieved the same level as the sovereign rating of the Republic of Kazakhstan (BBB-/Positive), the insurer reports.
4 November 2025KAZAKHSTAN: S&P Global Ratings upgrades Freedom Life to BB+, outlook Stable
S&P Global Ratings has upgraded the long-term credit rating and financial strength rating of Freedom Life, a top three insurer in Kazakhstan, from BB to BB+. The outlook is stable, according to the agency's report. S&P has also upgraded the insurer's national scale rating from kzAA- to kzAA.
13 October 2025KAZAKHSTAN: By the end of August, the market rises by almost 15% y-o-y
From the beginning of 2025 to the end of August, GWP in Kazakhstan amounted to KZT 1.1 trillion (~EUR 1.75 billion), which is 14.9% more y-o-y, according to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market.
13 October 2025KAZAKHSTAN: MTPL payments rise by almost 12% in the first half of the year
In the first half of 2025, Kazakhstani insurance companies made over 74,000 compulsory motor insurance (MTPL) payments, which is 11.6% more y-o-y, Allinsurance.kz reports citing the press service of the Eurasia insurance company.
7 October 2025KAZAKHSTAN: Halyk Insurance signs memorandum of understanding with one of China's largest insurance companies
Halyk Insurance, one of Kazakhstan's top five insurance companies, and China Pacific Property Insurance (CPPIC), one of China's largest insurance companies, have agreed to a partnership by signing a memorandum of understanding, kapital.kz reports.
23 September 2025KAZAKHSTAN: Insurance sector assets rise by 14.4% from January to July
Assets of the insurance sector in Kazakhstan from January to July grew by 14.4% to KZT 3.6 trillion (~EUR 5.84 billion), mainly as a result of growth in income from insurance activities, Allinsurance.kz writes with reference to the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.
15 September 2025KAZAKHSTAN: AM Best improves Eurasia’s Rating Outlook to Positive
AM Best has improved the rating outlook of Eurasia insurance company from Stable to Positive, confirming its financial strength rating at B++ and the long-term credit rating at bbb+. Thus, Eurasia retains the highest rating among all insurance companies in Kazakhstan according to AM Best, the insurer reports.
15 September 2025KAZAKHSTAN: Positive S&P Outlook opens prospects for more sustainable growth for the insurance industry
S&P Global Ratings has revised the outlook on Kazakhstan's sovereign credit rating from stable to positive, while maintaining it at BBB-. For the insurance and reinsurance industry of Kazakhstan, a stable rating makes it easier to attract capital and reduces the cost of borrowing for financial institutions, which means investment attractiveness, Allinsurance.kz writes.
2 September 2025KAZAKHSTAN: Transition to a digital work model allowed Freedom Insurance to save about KZT 1.5 billion in 2024
Digital platforms are increasingly changing the rules of the game in the insurance market of Kazakhstan, and one of the striking examples is the experience of Freedom Insurance, which, with the help of its own service DTP.kz, demonstrated how to increase transparency of loss settlement, reduce administrative costs and strengthen customer confidence, Allinsurance.kz writes.
26 August 2025KAZAKHSTAN: Kazakhstan Insurance Forum 2025: Kazakhstan is developing a sustainable, transparent and customer-oriented insurance market that meets the challenges of the time
Kazakhstan is developing a sustainable, transparent and customer-oriented insurance market that meets the challenges of the time, as was noted by the Chairperson of the Board of BCC Life Gulzhan Dzhaksymbetova at the International Insurance Forum (III annual insurance forum 2025).
26 August 2025KAZAKHSTAN: 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 2025
