Health insurance becomes more popular in Kazakhstan

Business Materials 22 October 2015 19:33 (UTC +04:00)

Baku, Azerbaijan, Oct. 22

By Elena Kosolapova - Trend:

The health insurance has become more popular in Kazakhstan, Ranking.kz analytical service said.

The volume of premiums on voluntary medical insurance increased by 1.2 billion tenge (177.1 tenge = $ 1) for 8 months of 2015 compared to 2014. The premiums were collected by 0.6 billion tenge less in the compulsory type of insurance.

The gap between the collection of premiums for medical insurance and compulsory insurance of employees has been reduced for eight months. It amounted to 2.7 billion tenge compared to 4.5 billion tenge in 2014.

Halyk-Kazakhinstrakh insurance company showed the largest increase in premiums on voluntary medical insurance - 1.6 billion tenge compared to January-August. Some 36 percent of the entire market segment accounted for the leader of the ranking.

The medical insurance in the total amount of the insurer's premiums hits 26 percent.

Archimedes Kazakhstan insurance company follows the leader. During the period, the company earned 541.6 million tenge more than in the same period of 2014. Medical insurance is a core for the insurer (100 percent of premiums). Archimedes has a 5 percent share on the medical insurance market of Kazakhstan.

The People's Bank's subsidiary - Halyk-Life is among three leaders. It earned the premiums for this type of insurance in the amount of 378.6 million tenge more for eight months in 2015 than in January-August. The company has a 3 percent share on the market. The medical insurance has a 4 percent share in the general structure of the insurer's premiums.

Edited by CN

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