Insurance sector of Kazakhstan grows at high rates
Kazakh citizens increasingly show interest in the products of insurance companies. This is mainly due to the growth of the volume of insurance premiums and their subsequent investment in securities. Quite a few residents are placing importance on protecting not only their property, but also their lives. Such transactions have doubled, or increased by 59 billion tenge (US$137 million). 27 relevant organizations exist in Kazakhstan, of which nine are life insurance companies. The assets of these organizations are growing, in the fall they increased by 19 percent over the year and reached 1.7 trillion tenge (US$3.96 million). In addition, according to experts, the recovery of business activity and the relaxation of restrictive measures will further stimulate the growth of the insurance market.
Translation by Galiya Khassenkhanova