/KASE, February 7, 07/ - Bank TuranAlem JSC (Almaty), of which shares
and bonds are traded in the official list of Kazakhstan stock exchange
(KASE) under "A" category, has spread today the press release, saying:
Quotation start
According to totals 2006, published on the site of the Agency of the Republic
of Kazakhstan for regulation and supervision of the financial market and
financial organizations (
http://www.afn.kz/cont/publish220534_4957.xls),
BTA insurance companies confirmed their top position. It demonstrates
efficiency of the diversifying strategy of development for insurance
companies to be executed by the shareholder - Bank TuranAlem JSC.
Consolidated assets of four companies (BTA Insurance JSC, the Daughter
company for life insurance of Bank TuranAlem BTA Life JSC, the Daughter
Insurance Company of Bank TuranAlem BTA Care, JS Insurance Company
London-Almaty JSC) totaled KZT25.975 bn. Net insurance reserves -
KZT12.609 bn. Insurance bonuses - KZT23.977 bn. Net amount of
insurance bonuses - KZT20.424 bn. By all these indicators the Insurance
Group of BTA took the first place.
Within all kinds of individual insurance the Group controls 26% market.
According to the Strategy of development of the Insurance Group, non-
banking insurance operations counts for one third out of the total volume of
bonus payments. BTA Insurance keeps the leading position by KASKO
policies (the market share - about 16%). The Company BTA Life JSC takes
the first stand for voluntary personal insurance (the share - 23.4%) and the
first place for life insurance (the share - 91.9%). The Company BTA Care
greatly improved its market positions, having demonstrated the good
dynamics last year.
The development of BTA insurance companies is accomplished within the
frameworks of the Strategy of the entire financial group of the Bank.
Strategic principles of the bank for years 2006-2015 stand for coming out to
leading positions in Kazakhstan and in CIS area in terms of retailing, small
and medium business, corporate servicing and getting of market shares in
Kazakhstan - over 25%, in Russia - over 2%, in other countries of
functioning - over 5%. It was intended to consolidate aggregate assets of the
bank and to increase them up to 2010 to $25 bn., up to 2015 to $50 bn.
Yerlan Askarbekov
The Executive marketing director
The Insurance Group of Bank TuranAlem JSC
Tel: +7 (327) 295-22-33, int. 2100
Fax: +7 (327) 250 14 87
Е-mail: yaskar@btainsurance.kz
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[2007-02-07]