The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a statistical update on the insurance sector covering February 2025 results and balances as of 1 March 2025. The sector comprised 25 insurers, including 10 life insurers, with assets rising 1.0% in February to KZT 3.2tn (up 3.5% since the start of 2025), while liabilities increased 1.7% to KZT 2.3tn (up 4.6% year-to-date) and equity fell 0.6% to KZT 955bn (up 1.1% year-to-date). Insurers recorded a KZT 3.3bn loss for February, mainly due to a negative foreign-currency revaluation of KZT 30.3bn. Securities made up 73.5% of assets (KZT 2.4tn), followed by cash and deposits in second-tier banks at 6.5% (KZT 211bn) and insurance receivables at 4.7% (KZT 151bn). The number of insurance contracts reached 4.1m, up 40.9% year on year, driven primarily by accident insurance (1.13m contracts, up 130.4%). Premiums totalled KZT 127.0bn in February and KZT 281.7bn year-to-date (up 23.8% year on year), including KZT 259.8bn year-to-date under direct insurance; voluntary personal insurance premiums were KZT 69.6bn in February and KZT 131.5bn year-to-date (up 48.4%), supported by higher accident insurance and pension annuity premiums. Claims payments were KZT 28.6bn in February and KZT 61.0bn year-to-date (up 42.1%), with 101,000 payments made; within this, voluntary property insurance payments were KZT 7.3bn in February and KZT 18.7bn year-to-date, while mandatory insurance payments were KZT 22.4bn in February and KZT 42.8bn year-to-date (up 14.1%), with the increase linked to higher premiums in motor third-party liability insurance.

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