The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlined plans to establish an independent Central Actuary as a center of actuarial expertise for the insurance market and pension system. The initiative is included in the draft Insurance Market Development Program through 2030, prepared with the National Bank of Kazakhstan, market participants and experts. The institution would develop consistent approaches to assessing risks and long-term liabilities and participate in calculating and reviewing tariffs for compulsory insurance classes. Plans include a unified industry database of anonymized information, integrated with the Unified Insurance Database, to support comparable assessments of risks, tariffs and insurance liabilities. The Central Actuary would produce annual actuarial reports and independent analysis covering tariffs, insurance reserves and the long-term sustainability of the insurance and pension sectors. It would also help develop professional standards and education programs and establish a national register of actuaries, adding to Kazakhstan’s 69 licensed actuaries.

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