The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported continued premium and asset growth in the insurance sector, alongside a KZT 1.5 billion loss in August. Premiums totaled KZT 1.24 trillion in the first eight months of 2026, up 11.8% from a year earlier, while claims payments rose 28.9% to KZT 363.5 billion. August was the sector’s third loss-making month of the year, although cumulative net profit remained KZT 87.5 billion. Assets increased 1.2% in August to KZT 4.6 trillion, driven mainly by securities investments, and were 17.1% higher than at the start of 2026. Liabilities rose 1.4% to KZT 3.4 trillion as insurance reserves expanded, while equity increased 0.5% to KZT 1.1 trillion. Voluntary personal insurance led premium growth, rising 24.3% year over year to KZT 673.9 billion, largely because pension annuity premiums more than doubled. Mandatory insurance premiums increased 13.5%, while voluntary property insurance premiums declined 6.4%. Insurers concluded 11.8 million contracts in the first eight months, 31.7% fewer than a year earlier. The decline reflected a 77.5% fall in accident insurance contracts following a cap limiting agents’ commissions on insurance linked to bank loans to 10% of the premium. The sector comprised 25 insurers as of Sept. 1, including 10 life insurers.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports 11.8% premium growth and KZT 1.5 billion August insurance sector loss
Kazakhstan’s financial market regulator reported that insurance premiums rose 11.8% year over year to KZT 1.24 trillion in the first eight months of 2026, while claims increased 28.9% to KZT 363.5 billion. Assets reached KZT 4.6 trillion, but the sector recorded a KZT 1.5 billion loss in August. Contract volumes fell 31.7%, mainly after commission limits contributed to a sharp decline in accident insurance contracts linked to bank lending.