Compulsory insurance in the reporting period amounted to KZT 204.5 billion, up 13.5% y-o-y. This growth was primarily driven by an 11.8% increase in compulsory insurance of employees against accidents and a 17.8% rise in civil liability insurance of vehicle owners.
Voluntary personal insurance for the period under review reached KZT 673.9 billion, a 24.3% increase y-o-y. This growth was largely due to a 105.9% rise in pension annuity insurance. Voluntary property insurance totaled KZT 362.9 billion in January–August, a 6.4% decrease y-o-y. This decline was primarily driven by a 24.8% drop in insurance of other financial losses.
Total paid claims for January–August 2026 totaled KZT 363.5 billion (~EUR 0.70 billion), which is 28.9% more than in January-August 2025.
The number of insurance contracts concluded with individuals and legal entities between January and August 2026 was 11.8 million units, which is 31.7% less y-o-y. This decline was driven by a 77.5% drop in accident insurance contracts, resulting from the introduction of a cap on remuneration for insurance agents—limiting them to no more than 10% of the insurance premium—for policies linked to bank loans.
By the end of August 2026, insurance sector assets had grown by 1.2% to KZT 4.6 trillion (a 17.1% increase since January 2026), primarily due to increased investment in securities. As of September 1, 2026, securities accounted for the largest share of assets at 72.4% (KZT 3.3 trillion).
Insurer liabilities rose to KZT 3.4 trillion in August 2026 (up 23.1% since January), largely driven by a 25.8% increase in insurance reserves between January and August. The insurance sector's equity stood at KZT 1.1 trillion at the end of August (up 1.7% since the start of 2026). In August 2026, the sector recorded a net loss, marking the third time in eight months that the net profit/loss fell into negative territory. The insurance sector recorded a loss of KZT 1.5 billion in August (net profit since January 2026 stands at KZT 87.5 billion).
Source: Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
*EUR 1= KZT 517.61 (as of August 31,2026)
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