The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an insurance sector update showing assets of KZT 4.5 trillion, up 15.6% since the start of 2026. Securities accounted for 72.9% of assets. Liabilities reached KZT 3.4 trillion, up 21.3% since the start of the year, while capital stood at KZT 1.1 trillion and year-to-date net profit totaled KZT 89 billion. Kazakhstan had 25 insurers as of Aug. 1, including 10 life insurers. Premiums totaled KZT 1.05 trillion in the first seven months, 8.8% more than in the comparable 2025 period, while claims increased 27.3% to KZT 312 billion. Growth was led by compulsory and voluntary personal insurance, including a 100.1% rise in pension annuity premiums. Voluntary property insurance premiums fell 3.2%, reflecting lower property damage insurance business. The number of insurance contracts dropped 31.6% to 10.4 million, primarily because accident insurance contracts declined 78.5% following the introduction of a commission cap for agents on insurance linked to bank loans.
2026-09-03Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Agency for Regulation and Development of the Financial Market reports insurance assets of KZT 4.5 trillion and rising premiums
Kazakhstan's financial market regulator reported insurance sector assets of KZT 4.5 trillion and year-to-date premiums of KZT 1.05 trillion. Premiums rose 8.8% from a year earlier, while claims increased 27.3% to KZT 312 billion. Contract volumes fell 31.6%, mainly due to a sharp decline in accident insurance policies following an agent commission cap.