ASTANA, Kazakhstan, September 2. Insurance payments in Kazakhstan amounted to 140.9 billion tenge (about $306.5 million) from January to August 2023, which is 51.6 percent more than in the same period last year, Trend reports.
The data of Agency of the Republic of Kazakhstan for regulation and development of the financial market shows that insurance payments for July 2023 amounted to 24.7 billion tenge (about $54 million). The increase was mainly due to an increase in insurance payments for property insurance and civil liability insurance of vehicle owners.
In total, in July 2023, 84,000 payments were made, since the beginning of 2023 - 629,100 payments.
The number of concluded insurance contracts for individuals and legal entities in July 2023 in Kazakhstan amounted to 1,627 contracts, which is 1.9 percent more compared to the previous month of 2023.
The data of Agency of the Republic of Kazakhstan for regulation and development of the financial market shows that since the beginning of 2023, the number of concluded insurance contracts for individuals and legal entities amounted to over 9.3 million contracts, which is 32.3 percent more compared to the same period in 2022. The main growth is accounted for by accident insurance contracts (by 116.2 percent or 998,000 contracts) and civil liability insurance of vehicle owners (by 19.6 percent or 652,000 contracts).
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.