Export insurance company "KazakhExport"

JSC "Export Insurance Company "KazakhExport" - a subsidiary of JSC "National Managing Holding "Baiterek" - is the only specialized insurance organization that performs the functions of an export credit agency of the Republic of Kazakhstan.

KazakhExport was established by the Resolution of the Government of the Republic of Kazakhstan dated May 12, 2003 No. 442 as one of the new development institutions, whose mission is to support the growth of exports of non-primary goods, works, services in priority sectors of the economy and the formation of the practice of financial, insurance and non-financial support of Kazakhstani enterprises.

Functions:

  • assistance in promoting goods, works and services of the Republic of Kazakhstan to foreign markets;
  • free consulting support in the field of pre-export and export operations;
  • interaction with domestic, foreign and international organizations on the promotion of the export of goods, works and services and the Republic of Kazakhstan.

Macroeconomic indicators of the insurance sector

 

01.07.2020

01.01.2021

01.07.2021

GDP, billion tenge

71 445,1

70 714,1

71 419,0

Assets to GDP ratio,%

1,93%

2,10%

2,34%

Equity to GDP ratio, %

0,86%

0,94%

0,98%

Ratio of insurance premiums to GDP, %

0,67%

0,72%

0,88%

The ratio of insurance premiums per capita, in tenge

25 866

27 082

32 995

* as of 01.07.2021

Source: Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
Ratio of insurance payments to insurance premiums, KZT bln
Top 10 largest insurance companies in Kazakhstan, billion tenge

Insurance company

Assets

Zheke capital

Insurance premiums

Eurasia Insurance Company JSC

347.8

209.0

79.3

Nomad Life CSR JSC

222.1

28.1

54.3

Halyk-Life Life Insurance House Halyk Bank House of Culture JSC

210.4

43.4

59.3

Halyk Insurance Company, a subsidiary of Halyk Bank of Kazakhstan JSC

149.5

59.2

68.8

KazakhExport Export Insurance Company JSC

130.6

114.3

2.0

Insurance Company "Victoria"

99.8

92.5

1.7

Freedom Finance Life CSR JSC

64.1

9.8

13.2

JSC "Standard life" CSR "

45.6

5.2

14.2

Eurasia CSR JSC

44.2

12.9

15.9

IC "Kazakhmys" JSC

39.0

13.4

19.3

* 07/01/2021 w

Source: National Bank of the Republic of Kazakhstan

The activities of insurance companies are regulated by the Law of the Republic of Kazakhstan "On insurance activities" dated December 18, 2000 No. 126.

The activities of insurance companies are regulated by the Law of the Republic of Kazakhstan "On insurance activities" dated December 18, 2000 No. 126.

The National Bank of Kazakhstan is a state body that ensures the development and implementation of the state's monetary policy, the functioning of payment systems, contributing to the stability of the financial system, carrying out currency regulation and currency control, statistical activities, as well as, within its competence, state regulation, control and supervision over financial market, financial organizations and other persons and in the field of financial legislation of the Republic of Kazakhstan.

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