At Kazakhstan Insurance Forum 2026, Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan Deputy Chair Nurzhan Tursynkhanov outlined a draft insurance market development program through 2030. Its six strategic directions and 18 initiatives seek to expand insurance protection for households and businesses while improving the market’s resilience and competitiveness. A central measure is a comprehensive legislative review and a new Insurance Market Law. The planned law would modernize regulation, improve the compulsory insurance model, develop voluntary insurance, introduce risk based supervision, digitize services, strengthen market infrastructure and the insurance payment guarantee system, and remove duplicative and outdated provisions. The program follows strong sector growth, with insurers’ assets nearly doubling over three years to KZT 4.1 trillion as of July 1, premiums reaching KZT 1.8 trillion and claims rising 1.8 times to KZT 413.6 billion. Pension annuity insurance and compulsory employee accident insurance led the growth.
2026-09-17Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlines new Insurance Market Law under 2030 reform program
Kazakhstan’s financial market regulator outlined a draft 2030 insurance program comprising six strategic directions and 18 initiatives. A planned new Insurance Market Law would modernize regulation, introduce risk based supervision, advance digitalization and strengthen compulsory, voluntary and guaranteed insurance arrangements. Insurers’ assets reached KZT 4.1 trillion as of July 1 after nearly doubling over three years.