The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan supported a roundtable in Almaty, organised by an international consulting firm, on priorities for further development of Kazakhstan’s insurance market. The discussion was positioned as part of implementing President Kassym-Jomart Tokayev’s instruction to prepare an Insurance Market Development Programme through 2030 and a draft new Law on Insurance Activity. Programme development is intended to reflect proposals from insurance organisations, the Agency’s regulatory approach and international experience and best practices. A methodology developed jointly with Oliver Wyman is structured around four areas: building an inclusive market ecosystem (products, demand and supply, and distribution channels), developing a coherent legal and supervisory framework, improving market infrastructure, and integrating the insurance sector with the wider financial system and the real economy. The Agency’s deputy chair also underscored that the long-term vision for sector growth should prioritise preserving financial stability and avoiding systemic risks. The Agency indicated that dialogue with professional market participants will be used to identify key issues and barriers, support preparation of the sector strategy through 2030, and determine the legislative foundations needed.

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