The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported that the President has signed legislative amendments that, among other changes, extend the Insurance Payments Guarantee Fund’s guarantees to all types of savings life insurance. Savings life insurance products combine life protection with an investment element, allowing policyholders to build savings for purposes such as retirement, education or major purchases. The fund’s guarantees currently apply to all types of compulsory insurance excluding imputed insurance, insurance contracts concluded under the State Education Savings System, and pension annuity contracts. The law will enter into force 60 calendar days after its first official publication.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-07-09
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan announces extension of Insurance Payments Guarantee Fund cover to all savings life insurance
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan announced legislative amendments extending the Insurance Payments Guarantee Fund’s coverage to all types of savings life insurance. Previously, the fund's guarantees applied only to compulsory insurance, excluding imputed insurance, State Education Savings System contracts, and pension annuity contracts.