The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an update on legislative amendments signed on 30 June 2025 that cap insurance agents’ commissions on insurance contracts linked to bank loans or microcredits at up to 10% of the insurance premium. The agency noted that many banks and microfinance organisations currently act as insurance agents and make insurance a mandatory condition for lending, with insurers paying commissions of up to 90%. The amendments prohibit banks from imposing insurance requirements and from restricting a borrower’s choice of insurer, framing credit-related insurance as voluntary and subject to the terms agreed by the parties in the insurance contract, including the insurance premium and agent commission. The amendments take effect 60 calendar days after the law’s 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 details new law capping loan-linked insurance agent commissions at 10%
Kazakhstan's Financial Market Agency announced amendments capping insurance agents’ commissions on contracts linked to bank loans or microcredits at 10% of the insurance premium. The amendments prohibit banks from mandating insurance or restricting borrowers' choice of insurer, making credit-related insurance voluntary. These changes take effect 60 days after the law's first official publication.