BAKU, Azerbaijan, Nov. 2
Trend:
The volume of assets of insurance (reinsurance) companies in Kazakhstan as of October 1, 2021 grew, Trend reports via the Agency for the Regulation and Development of the Financial Market.
According to the agency, this figure amounted to over 1.7 billion tenge ($4 million) or 2.31 percent from GDP, up by 15.6 percent since early 2021 and by 0.8 percent on monthly basis mainly due to growth of insurance premiums and their investment in securities.
In the portfolio of assets, the largest share (72.2 percent of total assets) fell on securities – 1.24 billion tenge ($2.9 million), which is increase of 24.7 billion tenge ($58 million) or two percent for September 2021 (growth of 20.1 percent from the beginning of this year).
Cash and deposits placed in second-tier banks amounted to 197 billion tenge or $460 million (11.5 percent of total assets), having decreased by two billion tenge ($4.7 million) or one percent in September 2021 (down by 8.2 percent for the first nine months of this year).
As of Oct. 1, 2021, reinsurance assets equaled 74 billion tenge or $170 million (4.3 percent of total assets), having decreased by 6.5 billion tenge ($15 million) or eight percent in September 2021.
Meanwhile, insurance receivables made up 59 billion tenge or $140 million (3.4 percent of total assets), having decreased in September 2021 by 7.4 billion tenge ($17 million) or 11.1 percent.
(1 USD = 426.74 KZT on Nov. 2)