Baku, Azerbaijan, May 7
By Fakhri Vakilov – Trend:
The revenues of the insurance sector of Kazakhstan for the first quarter of this year amounted to 19.3 billion tenge, an increase of 53.3 percent compared to the same period last year, Trend reports with reference to the Association of Financiers of Kazakhstan (AFK).
The average return on assets improved from 1.2 percent to 1.8 percent, while the average return on average capital increased from 3.1 percent to 4.1 percent. Meanwhile, the profits of six life insurance companies amount to 5.8 billion tenge, which corresponds to 30.1 percent of the sector’s revenues.
In March, total assets of Kazakhstan insurance companies increased by 34.8 billion tenge to 1,105.9 billion tenge and by 5.5 percent or 57.4 billion tenge from the beginning of the year.
The growth of assets of insurance companies in March was provided by the recapitalization of KazakhExport.
Thus, the assets of KazakhExport increased by 34.8 billion tenge to 83.6 billion tenge including, the total assets of life insurance companies in March increased by 10.8 billion tenge to 342.2 billion tenge.
The total insurance reserves of the sector practically did not change in March, having decreased by 0.2 billion tenge to 547.2 billion tenge. Meanwhile, since the beginning of the year, a positive dynamic has been maintained - plus 27.7 billion tenge.
Meanwhile, 82.7 percent of the increase in insurance reserves in the current year falls on Eurasia Insurance Company and Halyk Insurance Company - 22.9 billion tenge and 27.7 billion tenge, respectively.
The equity of insurance sector increased by 49.9 billion tenge for March.
In particular, the authorized capital of the KazakhExport Insurance Company was increased by 34 billion tenge.
The volume of insurance premiums raised in three months amounted to 118.9 billion tenge, an increase of 10.5 percent compared to the same period last year.
The amount of net premiums increased by 24.3 percent to 94.1 billion tenge.
($1-380.84 tenge on May 7)
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