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Kazakhstan’s insurance market shows positive dynamics in 2016

Business Materials 29 March 2017 21:56 (UTC +04:00)

Baku, Azerbaijan, Mar. 29

By Elena Kosolapova – Trend:

Kazakhstan’s insurance market showed positive dynamics in 2016 with the highest increase in insurance premiums over the last 5 years, the Kazakh National Bank said in a message.

The volume of insurance premiums in 2016 hit 357 billion tenges, which is 24 percent more compared to the previous year.

As much as 32 insurance companies, 15 insurance brokers and 59 actuaries were operating in Kazakhstan as of January 1, 2017.

Total assets of these companies hit 857 billion tenges, with equity capital of 402 billion tenges.
Forty-three percent of all insurance companies’ assets or 373 billion tenges falls on securities. Deposits in second-tier banks account for 27 percent of total assets or 228 billion tenges. Insurance reserves increased by 9 percent to 412 billion tenges in 2016.

(314.8 tenges = $1)

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