The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an update on the 12th International Forum of Insurance Guarantee Schemes (IFIGS) conference held in Almaty as part of Kazakhstan Insurance Forum 2025, noting that Insurance Payments Guarantee Fund JSC is chairing IFIGS for the first time in the country’s history. In opening remarks, Chair Madina Abylkassymova stated that Kazakhstan’s insurance payments guarantee system fully aligns with leading international practices and protects consumers’ interests across all compulsory insurance classes and endowment life insurance. The forum brought together representatives of international organisations and delegates from 27 countries, including experts, regulators, and the World Bank and Asian Development Bank. The agency also cited five-year market growth indicators: sector assets tripled to USD 6.6bn, the number of contracts doubled to 23m, premiums tripled to USD 3bn, and insurance payments increased by 1.5 times to USD 640m in 2024. Key discussions covered regulatory changes, improving insurance products and deploying digital technologies, with development of a catastrophe insurance model positioned as a tool to protect the population from natural disaster risks.

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