The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an update on Kazakhstan’s insurance sector as of 1 March 2026, covering February results. Total assets of insurance and reinsurance organisations increased 1.1% in February to KZT 4.0 tn, while net profit for the month was KZT 17.9 bn; at the same time, premium inflows and the number of insurance contracts declined, with the agency linking the slowdown in premium growth to the introduction of a cap on insurance agents’ commissions for insurance associated with bank loans (no more than 10% of the premium). As of 1 March, the sector comprised 25 insurers, including 10 life insurers. Securities accounted for 72.7% of assets (KZT 2.9 tn), followed by cash and deposits in second-tier banks at 7.9% (KZT 317 bn) and insurance receivables at 4.2% (KZT 170 bn). Liabilities rose 0.8% in February to KZT 2.9 tn due to higher insurance reserves, and equity increased 1.9% to KZT 1.1 tn. The number of contracts in February totalled 1.3 mn, down 35.7% year on year, attributed to a 35.7% drop in accident insurance contracts. Gross written premiums for February were KZT 88.2 bn, down 43.4% from the previous month; mandatory insurance premiums were KZT 24.5 bn in February and KZT 48.6 bn year to date (up 13.7% year on year), driven mainly by a 17.3% rise in premiums for insurance against accidents at work. Voluntary personal insurance premiums were KZT 47.0 bn in February and KZT 119.6 bn year to date (down 9.0% year on year), reflecting declines in accident insurance premiums (down 91.4%) and life insurance premiums (down 36.7%). Voluntary property insurance premiums were KZT 16.8 bn in February and KZT 75.9 bn year to date (down 29.4% year on year), driven by a 50.8% fall in premiums for property damage insurance. Insurance payouts totalled KZT 39.2 bn in February and KZT 81.2 bn year to date, up 33.1% versus the same period of 2025.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2026-04-07
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports February 2026 insurance sector data with assets rising to KZT 4.0 tn and premiums falling 43.4%
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported insurance sector assets rose 1.1% in February 2026 to KZT 4.0 tn and net profit reached KZT 17.9 bn, while premium inflows and contract volumes declined, partly due to a new 10% cap on commissions for insurance linked to bank loans. As of 1 March, the sector comprised 25 insurers, with securities at 72.7% of assets, liabilities up 0.8% to KZT 2.9 tn and equity up 1.9% to KZT 1.1 tn. Gross written premiums fell month on month and year on year across voluntary personal and property lines, while insurance payouts rose 33.1% year on year to KZT 81.2 bn year to date.