Kazakhstan Insurance Report Q3 2015 - New Study Released

We have a positive outlook for Kazakhstan's life and non-life insurance segments. Although the insurance sector is experiencing some pressures from the depreciation of the Kazakh tenge, overall, we see positive developments transfer growth to written life and non-life premiums. Importantly, however, non-life growth is suppressed by negative developments in property insurance following currency fluctuations, which should lead even to a fall in written non-life premiums in 2015. Though, in overall terms, increased disposable income and a changing demographic should outweigh negative developments and provide attractive growth opportunities for the insurance sector in the long-term.

Kazakhstan's life insurance comprises the smaller segment of the overall insurance sector, as it will account for 32% of total written premiums in 2015. In terms of growth potential, however, we anticipate that life insurance will grow at a considerably higher rate in the next five years, as we see its market share rise to approximately 44% in 2019, following an average growth of 20% in gross life premiums. A number of important recent developments underlie this trend. First and foremost, the Kazakh population will see its average life expectancy increase in the coming years, which should boost demand for life insurance as an increasingly larger portion of the population will seek more security as they grow older. Moreover, life expectancy should further increase due to increased commitment by the Kazakh government to providing primary healthcare funding to meet the growing demand for healthcare and the increased incidence of chronic diseases. In addition, we expect the Kazakh population to be increasingly better able to afford life insurance solutions as their private disposable income is set to increase. These developments underscore clear opportunities for future investment in the life segment.

Full Report Details at
- http://www.fastmr.com/prod/991609_kazakhstan_insurance_report.aspx?afid=301

Non-life insurance is considerably larger than life insurance, and will...

The Kazakhstan Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Kazakhstan Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Kazakhstani insurance industry.

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