The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued a board decision consenting to Tlek Kabykenevich Alzhanov acquiring major participant status in JSC Standard Life Life Insurance Company. Major and major (indirect) participant status entails an obligation to take measures to improve the insurer’s financial condition, including increasing its own capital in a sufficient amount to support financial stability if the insurer’s condition worsens. Standard Life ranks sixth by assets among Kazakhstan’s 10 life insurance companies, representing 4.0% of the sector’s aggregate assets.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-30
Kazakhstan Agency for Regulation and Development of the Financial Market approves Tlek Alzhanov to become a major participant in Standard Life Life Insurance Company
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Tlek Kabykenevich Alzhanov's acquisition of major participant status in JSC Standard Life Life Insurance Company. This status requires measures to enhance the insurer's financial condition, including capital increases if necessary. Standard Life holds 4.0% of the sector's aggregate assets, ranking sixth among Kazakhstan's life insurers.