AFS characterized the insurance market of Kazakhstan as of September 1, 2008

/IRBIS, Dinara Mukasheva, September 18, 08/ - Kazakhstan agency for financial market and financial organizations regulation and supervision (AFS) in its scheduled press-release dedicated to condition of the republic's financial market and financial organizations has characterized the country's insurance market as of September 1, 2008 (according to preliminary data). According to AFS, as of September 1, 2008, in compliance with the licenses issued by the Agency, 44 insurance (reinsurance) organizations deal with insuring activity, at that 8 organizations have licenses for life insurance, 29 - licenses on compulsory insurance of transport owners' civil responsibilities. Also, on the market of insurance services 12 brokers and 49 actuaries are acting. Changing of main indicators, characterizing the condition of insurance sector of Kazakhstan (in bn. KZT) -------------------------------------------------------------------------- Changing (in %) relative to values -------------------- As of As of As of As of Indicator September Aug. Jan Sept. 1,08 1,08 1,08 1,07 ----------------------------------------- --------- ----- ----- ------ Joint assets* 286.9 -0.9 +28.3 +60.0 Joint shareholders equity 161.8 -0.1 +28.1 +50.2 Insurance reserves 106.9 -0.8 +23.7 +14.6 Volume of insurance premiums, received by 100.1 agreements for direct insurance incld: +9.5 -32.0 -1.2 On compulsory insurance 20.5 +26.5 +13.3 +50.7 On voluntary private insurance 13.5 +10.7 -8.8 +20.5 On voluntary property insurance 66.1 +4.9 -34.3 -13.8 Volume of insurance premiums on life 3.7 +12.1 -21.3 +15.6 insurance Sum of insurance premiums, given to 46.2 +5.0 -25.1 +8.5 reinsurance Volume of insurance payments made 39.9 +10.5 -18.9 +48.3 by agreements of direct insurance incld: On compulsory insurance 5.5 +22.2 +5.8 +57.1 On voluntary private insurance 5.1 +10.9 +37.8 +104.0 On voluntary property insurance 29.3 +8.5 -14.1 +40.2 -------------------------------------------------------------------------- * Sum of assets is indicated with consideration of stake of re-insurer (changes, included by resolution of Board of NB RK ¦86 dated July 20, 2007) Currently in the system of guaranteeing the insurance payments are participating 32 insurance (reinsurance) organizations. As of August 1, 2008 with objectives of removal the abortion of legislation, regulating the activities of insurance market, 5 letter-directions, 4 written liabilities, 1written agreement and 1 written notification were directed by the Agency to the address of insurance organizations. As of September 1, 2008 there are 2 insurance (reinsurance) companies (IC Valut-Transit Polis, IO Kazagropolis OJSC) in the forced liquidation process by court decision. [2008-09-18]