Baku, Azerbaijan, June 29
Trend:
Total assets of insurance companies in Kazakhstan increased by 2.5 percent and amounted to 948.1 billion tenge in the first five months of 2018, the National Bank of Kazakhstan said June 28.
Along with this, obligations of insurance companies increased by 3.3 percent to 530.3 billion tenge from the beginning of the year.
The volume of insurance reserves formed by insurance companies to ensure the fulfillment of obligations under existing insurance and reinsurance contracts has increased by 4.9 percent to 483.1 billion tenge since the beginning of the year.
Their equity capital amounted to 417.8 billion tenge (a growth by 1.5 percent from the beginning of the year).
In addition, as compared to the same period last year, the insurance premiums decreased by 1.5 percent to 168.7 billion tenge, of which the volume of insurance premiums taken under direct insurance contracts amounted to 148.7 billion tenge.
The insurance premiums in the life insurance industry increased by 17.4 percent to 29 billion tenge in the first five months of this year, as compared to the same period last year. The share of insurance premiums collected in the life insurance industry amounted to 17.2 percent of the total insurance premiums against 14.4 percent in the same period last year.
The volume of insurance premiums transferred to reinsurance amounted to 42.7 billion tenge or 25.3 percent of the total volume of insurance premiums. Non-residents of Kazakhstan received 80.8 percent of insurance premiums transferred to reinsurance.
(341.31 KTZ = 1 USD on June 29)