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Kazakhstan's processing sector leads in insurance market

Business Materials 18 January 2018 16:45 (UTC +04:00)

Baku, Azerbaijan, Jan. 18

By Nigar Guliyeva – Trend:

Processing sector holds a leading position in Kazakhstan's insurance market, despite the fact that previously the main premium collection in industry traditionally fell on mining industry and quarrying, Energyprom.kz reported.

In January-September 2017, the share of processing sector in the total volume of insurance premiums was 18.6 percent - 48.3 billion tenge. In the same period a year earlier the figure was 49.6 billion tenge or 19.9 percent of the total insurance premiums.

In the mining industry, insurance premiums totaling 32.2 billion tenge (12.4 percent of the total insurance premiums) were collected for three quarters of 2017.

In terms of insurance payments, on the contrary, the mining industry is leading: for three quarters of 2017 the share was 11.6 percent of all payments, compared to 10 percent for the same period in 2016. The volume of payments is 6.4 billion tenge, which is 1 percent less than last year.

The share of insurance payments in the manufacturing industry decreased from 12.8 percent to 8.2 percent. The volume decreased by 44.9 percent to 4.5 billion tenge.

(327.1 KZT = 1 USD on Jan. 18)

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