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.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-07-01
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.