ASTANA, Kazakhstan, September 2. Assets of insurance (reinsurance) companies in Kazakhstan increased by 1.6 percent in July 2023 to 2.4 trillion tenge or about $5.2 billion (from the beginning of 2023 - an increase of 15.9 percent), mainly as a result of an increase in income from insurance activities, Trend reports.
The data of Agency of the Republic of Kazakhstan for regulation and development of the financial market shows that as of August 1, 2023, the largest share in the structure of assets is occupied by securities - 71.3 percent (1.7 trillion tenge or $3.7 billion), cash and deposits in second-tier banks - 6.0 percent (143 billion tenge or $311 million), insurance receivables - 4.7 percent (112 billion tenge or $244 million).
Liabilities of insurance (reinsurance) organizations for July 2023 increased by 1.5 percent to 1.5 trillion tenge or $3.3 billion (from the beginning of 2023 - an increase of 18.9 percent).
The equity capital of insurance (reinsurance) organizations in July 2023 increased by 1.8 percent or 15 billion tenge ($33 million) to 860 billion tenge ($1.9 billion), mainly due to profits received from insurance activities (from the beginning of 2023 - an increase of 10.9 percent).
Net profit in the insurance market in July 2023 amounted to 20.2 billion tenge or $44 million (from the beginning of 2023 - 128.7 billion tenge or $280 million).
As of August 1, 2023, the insurance sector of the Republic of Kazakhstan is represented by 26 insurance organizations, of which 10 are life insurance companies.