The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan released a statistical update on the insurance sector, showing that insurers’ assets increased by 2.5% in January 2025 to KZT 3.2 trillion and net profit for the month totalled KZT 3.0 billion. Over the same period, insurers collected KZT 154.8 billion in premiums, up 10.4% year on year, while payouts rose 60.1% year on year to KZT 32.4 billion. As of 1 February 2025, the market comprised 25 insurance companies, including 10 life insurers. Securities represented 74.0% of assets (KZT 2.4 trillion), followed by cash and deposits in second-tier banks at 5.5% (KZT 177 billion) and insurance receivables at 4.9% (KZT 157 billion). Liabilities grew 2.9% in January to KZT 2.2 trillion mainly due to higher insurance reserves, and equity increased 1.6% (KZT 15.6 billion) to KZT 961 billion. The number of insurance contracts reached 1.987 million in January, up 40.4% year on year, with the largest increase in accident insurance (649,000 contracts; up 169.9%). Compulsory insurance premiums were KZT 20.4 billion (up 24.7%), driven primarily by motor third-party liability premiums (up 30.3%, or KZT 2.1 billion). Voluntary personal insurance premiums rose 25.0% to KZT 61.9 billion, supported by accident insurance premiums (up 3.1 times, or KZT 13.1 billion) and pension annuity insurance (up 2.2 times, or KZT 11.9 billion), while voluntary property insurance premiums fell 2.6% to KZT 72.5 billion due to a 7.7% (KZT 4.1 billion) drop in property damage insurance despite a KZT 3.2 billion increase in professional liability insurance. A total of 149,000 payout transactions were made in January, with the increase attributed mainly to compulsory employee accident insurance and voluntary property insurance.

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