The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has published a draft Insurance Market Law and companion amendments designed to modernize insurance regulation, competition, digital services and consumer protection. Prepared to implement presidential instructions issued on Feb. 10, 2026, the package advances the agency’s broader insurance reform work. It would establish a unified regulatory model covering the existing eight compulsory insurance classes and 10 forms of imputed insurance, while adding compulsory home insurance against earthquakes, floods and natural forest fires. The proposals would introduce unit-linked products and hybrid pension annuities, ease licensing requirements for foreign insurer branches and create a Central Actuary to support consistent risk, liability and compulsory tariff assessments. They would also establish an insurance competencies center, develop self-regulation and give the Insurance Payments Guarantee Fund additional powers to settle obligations of insurers in liquidation. Mass-market voluntary insurance would use electronic contracts as the primary format, while compulsory contracts would be identified through the Unified Insurance Database. The package would also simplify access to insurance marketplaces, set baseline requirements for their operations and clarify the separate roles of insurance agents and brokers. The companion bill would amend 11 codes and 36 laws.

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