Kazakh insurance companies earn over $350M in 1Q2019
Baku, Azerbaijan, May 23
By Nargiz Sadikhova - Trend:
In the first four months of 2019 the total volume of Kazakh insurance companies’ revenue amounted to 133.2 billion tenge ($351.8 million), which is an annual increase of 25.8 percent, Trend reports via ranking.kz
The revenues of the same period of last year amounted to 105.9 billion tenge with an annual increase of 17.3 percent.
In January-April of 2019 some 83.1 percent of companies’ revenue accounted for insurance activity, 16.4 percent accounted for investment activity and 0.5 percent accounted for other activity.
Furthermore, the net profit of companies in the reporting period amounted to 21.3 billion tenge, which is an annual decrease of 6.6 percent. In the same period of 2018 the net profit amounted to 22.8 billion tenge, which is triple the volume of 2017, as well as the maximum indicator in the history.
In first four months of 2019 the largest volume of net profit is displayed by Eurasia insurance company (8.9 billion tenge, -16.5 percent). The percentage of the company in the total volume of insurance companies’ net profit amounted to 41.7 percent.
It is followed by Nomad Life, the net profit of which equaled 2.8 billion tenge and an annual increase of which is 76.7 percent (12.9 percent of the sector). The Insurance Company Victoria is also among leaders. The net profit of the company amounted to 1.9 billion tenge with an annual increase of 22.7 percent (8.7 percent of the sector). Some 63.4 percent of the total volume of net profit accounts for these three companies.
(1USD = 379.01 tenge on May 23)
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