The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has set out its key priorities for insurance-sector supervision in 2026, aimed at improving supervisory effectiveness and increasing the transparency and predictability of regulatory actions. To implement tasks set by the President at the Government’s expanded meeting on 10 February 2026, the Agency and the National Bank will develop an insurance market development programme to 2030 and prepare a draft new law on insurance activity. The priorities include expanding compulsory insurance, improving market infrastructure, digitally transforming the sector, developing savings and investment insurance, simplifying licensing procedures, and aligning legislation with international practice, including Solvency II principles. Supervisory enhancements include work to introduce a new integrated supervisory model based on the International Association of Insurance Supervisors’ Insurance Core Principles, Solvency II requirements and IFRS 17. Under the existing Supervisory Risk Evaluation System, insurers will be subject to annual risk assessments incorporating consumer-complaint indicators, alongside new monitoring indicators for acceptable complaint levels and imbalances between premiums and payouts. Following adoption of the new Tax Code, the Agency will use its new powers to set requirements for IFRS 17-consistent valuation and structuring of insurance liabilities, including automation and methodology approval procedures and timelines, and will in 2026 conduct a first-time analysis of insurers’ methodology compliance and readiness to move to automated valuation of insurance liabilities.

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