Baku, Azerbaijan, April 27
By Ali Mustafayev – Trend:
The volume of premiums on voluntary life insurance in Kazakhstan amounted to 10.3 billion tenge in the first three months of 2018, which is 59.5 percent more than in January-March 2017, Energy Prom reported.
The volume of insurance payments, on contrary, decreased by 14.9 percent, to 437.9 million tenge. In January-March 2017 this indicator also decreased by 17.7 percent.
The share of life insurance premiums in Kazakhstan in January-March 2018 amounted to 35 percent of voluntary personal insurance and 9.6 percent of all revenues. In the same period of 2017, the share of life insurance premiums amounted to 25.2 percent and 6.2 percent, respectively.
The share of life insurance payments decreases for the second consecutive year. In January-March 2018, the indicator amounted to 5.3 percent from voluntary personal insurance payments and 2.1 percent from all payments.
More than half of the premiums of Kazakhstan’s insurance market account for Halyk Life (5.4 billion tenges, increasing by 2.1 times year over year). The European Insurance Company ranks second (3.1 billion tenges, increasing by 7.4 percent year over year) and Nomad Life ranks third (1.1 billion tenges, increasing by 86.7 percent year over year).
The leader in terms of insurance payments is the European Insurance Company (256.4 million tenge), followed by Kazkommerts Life (140.1 million tenge) and Nomad Life (28.3 million tenge).
Exchange rate for 27 April, 2018: $1 – 327 tenges.
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