Total assets of insurance companies in Kazakhstan approaching $3B
Baku, Azerbaijan, Feb. 27
By Rashid Shirinov – Trend:
Assets of insurance companies in Kazakhstan amounted to 1.1 trillion tenge in January 2019, which is a year-on-year increase of 15.6 percent, Trend reports via Finprom.kz.
The largest participant in the insurance market of the country is the Eurasia insurance company, whose total assets reached 272.5 billion tenge, and the annual growth made up 16 percent.
Halyk-Life ranked second with 141.8 billion tenge, more than a double growth.
Halyk insurance company was third with 134.1 billion tenge, which is almost 3 times more than in January 2018.
The Top-5 also included Victoria (94.1 billion tenge) and NOMAD Life (93.9 billion tenge). It should be noted that the Top-5 insurance companies concentrated 68.2 percent of the total market assets.
At the same time, Halyk became the fastest growing insurance company, which increased its assets by 2.9 times year-on-year from 45.9 billion to 134.1 billion tenge.
Halyk-Life ranked second with assets having increased more than 2 times to 141.8 billion tenge.
Centras Insurance was third: its assets grew by 47.5 percent and amounted to 16.7 billion tenge.
The Top-5 insurance companies in annual growth of assets also included Sinoasia B&R (42.6 percent) and NOMAD Life (39.9 percent).
It is noteworthy that the assets of the five fast-growing insurance companies amounted to 389.4 billion tenge, which comprises 36.1 percent of the total assets of the insurance market.
(378.04 KZT = 1 USD on Feb. 27)
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