Car insurance market grows in Kazakhstan

Car insurance market grows in Kazakhstan

Baku, Azerbaijan, June 25

By Elena Kosolapova - Trend:

The car boom in Kazakhstan contributed to the growth of the insurance market, according to a report released by the Ranking.kz analytical service.

"In January-April 2015, the volume of sales of policies of civil liability of car owners in Kazakhstan was 13.4 billion tenge (185, 95 tenge = $1), which is 40 percent more than in the same period of 2014," said the report.

There are 23 companies on the car insurance market in Kazakhstan, and an increase in sales has been recorded at all of them.

Only in April 2015, the amount of premiums collected on policies of civil liability of vehicle owners in Kazakhstan increased by 3.8 billion tenge. Two new "billionaire" companies - Oil Insurance Company and Alliance policy came to the market, the report said.

The leader of the absolute increase in sales per month in this area is Nomad Insurance. The premium portfolio of the insurance company in April increased by 599 million tenge - up to 2 billion tenge compared to March 2015.

The second place belongs to Tsesna-Garant insurance company. The growth for the month amounted to 442 million tenge - up to 1.7 billion tenge.

Oil Insurance Company holds the third place in the Top 3. The portfolio of the collected premiums on civil liability policies of the insurance company amounted to 1.3 billion tenge. The growth for the month was 376 million tenge.

Edited by CN

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Follow the author on Twitter: @E_Kosolapova

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