Kazakhstan's Agency for Regulation and Development of the Financial Market published an insurance sector update showing premiums rose 16.8% year on year to KZT 1,434.7 billion in January-September 2026, while contract numbers fell 30.4% to 13.1 million. The decline in contracts reflected a 75.7% reduction in accident insurance agreements following the introduction of a cap limiting agents' commissions on insurance linked to bank loans to 10% of premiums. Voluntary personal insurance drove premium growth, increasing 33.5% to KZT 811.2 billion, principally because pension annuity premiums rose 110.2%. Mandatory insurance premiums increased 14.0% to KZT 229.6 billion, supported by employee accident and motor liability insurance. By contrast, voluntary property insurance premiums fell 6.0% to KZT 393.9 billion, reflecting lower premiums for other financial losses and property damage coverage. Insurance payouts across the sector increased 30.7% to KZT 417.9 billion over the same nine months. Sector assets rose 4.0% in September to KZT 4.8 trillion as of Oct. 1, mainly through increased securities investments, bringing growth since the start of 2026 to 21.7%. Liabilities increased 5.3% during September to KZT 3.6 trillion, largely because of higher insurance reserves. Equity declined 0.2% during the month to KZT 1.1 trillion, remaining 1.5% above its level at the start of the year.

Original source