S&P Global Ratings has upgraded Nomad Life, Kazakhstan's largest life insurance company, to BBB- with a positive outlook. The company has thus achieved the same level as the sovereign rating of the Republic of Kazakhstan (BBB-/Positive), the insurer reports.

S&P Global Ratings has upgraded the long-term credit rating and financial strength rating of Freedom Life, a top three insurer in Kazakhstan, from BB to BB+. The outlook is stable, according to the agency's report. S&P has also upgraded the insurer's national scale rating from kzAA- to kzAA.

From the beginning of 2025 to the end of August, GWP in Kazakhstan amounted to KZT 1.1 trillion (~EUR 1.75 billion), which is 14.9% more y-o-y, according to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market.

In the first half of 2025, Kazakhstani insurance companies made over 74,000 compulsory motor insurance (MTPL) payments, which is 11.6% more y-o-y, Allinsurance.kz reports citing the press service of the Eurasia insurance company.

Halyk Insurance, one of Kazakhstan's top five insurance companies, and China Pacific Property Insurance (CPPIC), one of China's largest insurance companies, have agreed to a partnership by signing a memorandum of understanding, kapital.kz reports.

Assets of the insurance sector in Kazakhstan from January to July grew by 14.4% to KZT 3.6 trillion (~EUR 5.84 billion), mainly as a result of growth in income from insurance activities, Allinsurance.kz writes with reference to the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.

AM Best has improved the rating outlook of Eurasia insurance company from Stable to Positive, confirming its financial strength rating at B++ and the long-term credit rating at bbb+. Thus, Eurasia retains the highest rating among all insurance companies in Kazakhstan according to AM Best, the insurer reports.

S&P Global Ratings has revised the outlook on Kazakhstan's sovereign credit rating from stable to positive, while maintaining it at BBB-. For the insurance and reinsurance industry of Kazakhstan, a stable rating makes it easier to attract capital and reduces the cost of borrowing for financial institutions, which means investment attractiveness, Allinsurance.kz writes.

Digital platforms are increasingly changing the rules of the game in the insurance market of Kazakhstan, and one of the striking examples is the experience of Freedom Insurance, which, with the help of its own service DTP.kz, demonstrated how to increase transparency of loss settlement, reduce administrative costs and strengthen customer confidence, Allinsurance.kz writes.

Kazakhstan is developing a sustainable, transparent and customer-oriented insurance market that meets the challenges of the time, as was noted by the Chairperson of the Board of BCC Life Gulzhan Dzhaksymbetova at the International Insurance Forum (III annual insurance forum 2025).

The key indicators of life insurers in January-June 2025 recorded confident double-digit growth due to continued high demand for life insurance products, supported by legislation, wage growth (+10.7%), and institutional promotion of insurance products through digital services, according to a market review, published by the Association of Financiers of Kazakhstan.

According to the National Bank of the Republic of Kazakhstan, over the past 10 years, the number of concluded pension annuity contracts has increased by more than 882.7%.

In 1H2025, the insurance sector of Kazakhstan grew by 20.16%, reaching KZT 906.61 billion (EUR 1.48 billion), according to the data published by the National Bank. It is noteworthy that in euro the market result was negative (-0.50%) due to a great difference in exchange rates compared to the first half of last year.

In January-April of this year, 9.2 thousand traffic accidents were registered in Kazakhstan, which is 51.5% more y-o-y. The number of victims increased by 62.1% and reached 13.1 thousand people, according to the Committee on Legal Statistics and Special Accounts of the Prosecutor General's Office of the Republic of Kazakhstan.

The International Monetary Fund has published a statement following its mission to Kazakhstan, which notes continued high growth rate of the Kazakh economy, which is largely supported by large-scale investments in infrastructure, digitalization, agro-industrial complex and logistics. This generally creates a positive background for financial markets and institutions, including insurance companies, Allinsurance.kz writes.

The first quarter of 2025 became a period of new records for the life insurance market in Kazakhstan. According to Freedom Life insurance company specialists, this segment is becoming an integral part of the financial strategy of an increasing number of Kazakhstanis, Allinsurance.kz writes.

In January-March 2025, against the backdrop of continued high demand for life insurance products supported by legislative norms, double-digit growth in household incomes (+10.6%) and a gradual increase in financial literacy, there was an increase in all key indicators of the sector, except for net profit, according to a report, published by the Association of Financiers of Kazakhstan.

The growth of assets of non-life insurance companies in Kazakhstan slowed down against the background of a decrease in investment income and a more accelerated growth of paid claims over premiums. In 1Q2025, non-life assets increased by only 2.8% vs 6.2% in the same period in 2024, Forbes writes.

At the end of the first quarter of 2025, the insurance sector of Kazakhstan grew by 20.54%, reaching KZT 441.83 billion (EUR 815.07 million). Both life and non-life insurance recorded double-digit growth rates (in tenge), according to data published by the National Bank.

Thanks to the DTP.kz platform, created by Freedom Insurance for accelerated processing of insurance payments, the average time for filing a claim is now only 15 minutes, which is significantly ahead of the standard period of 1 to 5 business days.