Kazakhstan Insurance Report 2014

Kazakhstan Insurance Report 2014

Includes 3 FREE quarterly updates

BMI View:

In the non-life segment, the implication is that a long term trend of declining penetration has
come to an end. However, the changes in the life segment are even more exciting
Kazakhstan's insurance sector has more in common with its counterparts in some energy-rich Middle
Eastern countries than with those of other countries that formerly were part of the USSR. Non-life
penetration is fairly low. This is partly because of aggressive competition (within a fragmented competitive
landscape in the past). It is also because some of the largest industrial risks have been covered in major
international centres such as London. Local firms lack scale in an international context, and are often
associated with the leading banking/financial services groups.
Premiums are expanding at annual rates of nearly 30% in both the major segments. In the non-life segment,
the implication is that a long term trend of declining penetration has come to an end. However, the changes
in the life segment are even more exciting. Penetration has doubled in about two years. The lack of trust and
understanding that had previously constrained the development of life insurance appears to have been
overcome. Interestingly, it appears to be the local companies who have identified clients, undertaken the
necessary education effort, developed products that are attractive and distributed them.
BMI Industry View 7
Table: Kazakhstan - Total Premiums 2010-2017 7
SWOT 9
Insurance 9
Industry Forecast 11
Life 11
Table: Total Life Premiums, 2010-2017 11
Non Life 12
Table: Total Non Life Premiums, 2010-2017 12
Industry Risk Reward Ratings 14
Central and Eastern European Risk/Reward Ratings 14
Table: Europe Risk/Reward Ratings 15
Kazakhstan Insurance Risk/Reward Ratings 16
Table: Kazakhstan's Insurance Risk/Reward Ratings 16
Market Overview 18
Life Sector Update 18
Non Life Sector Update 18
Industry Trends And Developments 20
Life Growth Drivers & Risk Management Projections 20
Table: Insurance Key Drivers, Demographics 2010-2017 20
Non Life Growth Drivers & Risk Management Projections 21
Macroeconomic Forecast 21
Political Outlook 23
Table: Table: Europe Regional Security Ratings (scores out of 100, with 100 the best) 24
Healthcare Sector 26
Healthcare Sector Financing 28
Epidemiology 29
Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017 30
Competitive Landscape 33
Kazakhstan Competitive Landscape 33
Central And Eastern Europe Competitive Landscape 34
Company Profile 37
Eurasia 37
Kazakhinstrakh 39
London Almaty Insurance Co 41
Nomad Insurance 43
Generali 45
Regional Overview 49
Central & Eastern Europe - Life 49
Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn) 49
Central & Eastern Europe - Non-Life 50
Table: Central And Eastern Europe - Non Life Premiums US$mn, 2010-2017 51
Demographic Forecast 53
Table: Kazakhstan's Population By Age Group, 1990-2020 ('000) 54
Table: Kazakhstan's Population By Age Group, 1990-2020 (% of total) 55
Table: Kazakhstan's Key Population Ratios, 1990-2020 56
Table: Kazakhstan's Rural And Urban Population, 1990-2020 56
Methodology 57
Industry Forecast Methodology 57
Risk/Reward Rating Methodology 60
Table: Insurance Risk/Reward Ratings Indicators 61
Table: Weighting Of Indicators 62
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