The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an update on the insurance and reinsurance sector, reporting May 2025 performance and balance-sheet positions as of 1 June 2025. The market comprised 25 insurers (10 life and 15 non-life). Assets increased 0.8% in May to KZT 3.4tn (up 8.1% since the start of 2025), mainly reflecting higher investment income, while liabilities rose 0.7% to KZT 2.4tn (up 9.4% year to date) as insurance reserves grew; equity increased 1.2% to KZT 992bn (up 5.0% year to date). Insurers generated KZT 31.8bn of profit in May, bringing net profit to KZT 74.4bn for 2025 to date. Securities represented 71.8% of assets (KZT 2.4tn), followed by cash and deposits with second-tier banks at 6.7% (KZT 225.1bn) and insurance receivables at 4.5% (KZT 151.2bn). The number of insurance contracts reached 10.5m year to date, up 26.1% versus the comparable period of 2024, driven mainly by accident insurance (1.1m contracts, up 38.8%). Premiums totalled KZT 130.9bn in May and KZT 674.5bn year to date (up 23.8% year on year), including voluntary personal insurance of KZT 60.9bn in May and KZT 325.4bn year to date (up 33.7%), supported by higher accident insurance premiums (up 79.6% to KZT 69.4bn) and pension annuity insurance (up 42% to KZT 122.8bn). Voluntary property insurance premiums were KZT 48.7bn in May and KZT 240.4bn year to date (up 20.2%), while mandatory insurance premiums reached KZT 21.4bn in May and KZT 108.7bn year to date (up 7.0%), with growth linked to higher motor third-party liability premiums (up 23.9%, a KZT 48.0bn increase). Claims payments amounted to KZT 34.8bn in May and KZT 166.7bn year to date (up 40.7% year on year), across 117.3k payments.
2025-07-01Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports insurance sector assets at KZT 3.4tn and premiums up 23.8% year to date
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported on the insurance and reinsurance sector's performance as of June 2025, noting a 0.8% asset increase in May to KZT 3.4tn, driven by higher investment income. Insurance contracts rose 26.1% year to date, with premiums totaling KZT 674.5bn, up 23.8% year on year, and claims payments reaching KZT 166.7bn, up 40.7%. The market comprises 25 insurers, with significant growth in accident and pension annuity insurance premiums.