Kazakh insurance companies increase premiums
Baku, Azerbaijan, Nov. 10
By Elena Kosolapova - Trend:
Insurance payments in Kazakhstan rose faster than the premiums being collected, according to the analytical service Ranking.kz.
In the January-September 2015 period, the growth in the volume of premiums collected by Kazakh insurance companies reached 8 percent - up to 221.9 billion tenge, while the amount of payments increased by 14 percent - to 57.6 billion tenge (the rate of the National Bank of Kazakhstan, as of November 10, is 312.65 tenge/dollar).
Thus, the payments from insurance companies in Kazakhstan rose to 26 percent of total premiums, and reached the maximum figure recorded in 2012.
Meanwhile, the smallest amount of payments during the first nine months of 2015, compared to the amount of premiums collected, was described by the insurance company Trust Insurance at 0.7 percent. For the year, payments of the insurer increased 37 percent, while the collection of premiums fell 23 percent.
Second place belonged to the KazExportGarant insurance company, which paid 2.9 percent in January-September 2015 of the amount of premiums collected in the same period. Compared with the same period in 2014, this ratio fell to 15.4 percent, amid a rise of premiums by 2.7 times and a reduction in the amount of payments by 57 percent.
The European insurance company wrapped up its TOP 3 leaders, which for the first nine months increased collections of premiums by 10 percent, while reducing the volume of insurance payments by 64 percent. Thus, during the reporting period, the insurance company paid its customers 3 percent above its total volume of premiums.
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