The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported that on 30 June 2025 the President signed legislative amendments that expand the IT-related activities permitted for insurance sector participants. Insurers may now develop their own software to automate insurance services, create marketplaces and develop online services, while insurance organisations and insurance holdings are permitted to acquire shares and participatory interests in IT companies. The law also expands the functions of the Insurance Payout Guarantee Fund to include developing software used to automate insurers’ activities and to support the training and upskilling of insurance professionals. The agency links the changes to widening access to insurance products, lowering service costs through automation and strengthening competition in the financial market. The amendments enter into force 60 calendar days after the date of 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 outlines new law allowing insurers to develop software and acquire stakes in IT companies
Kazakhstan's Financial Market Agency announced legislative amendments allowing the insurance sector to engage in IT activities, including software development and acquiring IT company interests. The Insurance Payout Guarantee Fund's functions now include software development and professional training. These changes aim to enhance access to insurance products, reduce service costs, and boost market competition.