FSA characterized the Insurance Market of Kazakhstan as at June 1, 2010 (on preliminary data)

/IRBIS, June 23, 2010/ - Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) in its scheduled press-release dedicated to condition of the republic's financial market and financial organizations has characterized Kazakhstan insurance market as at June 1, 2010 (according to preliminary data). According to FSA, as at June 1, 2010, in compliance with the licenses issued by the Agency, 41 insurance (reinsurance) organizations deal with insuring activity, at that 7 organizations have licenses for life insurance, 28 - licenses on compulsory insurance of transport owners' civil responsibilities. Also, on the market of insurance services 13 brokers and 63 actuaries are acting. Changing of main indicators, characterizing the condition of insurance sector of Kazakhstan (in bn. KZT) ---------------------------------------------------------------------------- Changing (in %) relative to value s ------------------------------ As at Indicator 01.06.10 For month Since year For year ------------------------------------ -------- Joint assets* 328.9 +0.6 +10.6 +10.4 Joint shareholders equity 188.3 +0.1 +4.3 +12.2 Insurance reserves 121.1 +1.9 +19.9 +11.0 Volume of insurance premiums, received by agreements for direct 64.7 +23.2 -42.9 +50.1 insurance included: On compulsory insurance 12.9 +22.9 2.4 times +25.2 On voluntary private insurance 13.8 +22.1 -37.0 +53.3 On voluntary property insurance 38.0 +23.8 -37.6 +59.0 Volume of insurance premiums on life insurance 6.1 +27.1 -34.4 2.0 times Sum of insurance premiums, given to reinsurance 36.3 +23.9 -35.1 +32.5 Volume of insurance payments made by agreements of direct insurance 9.8 +24.1 2.8 times +8.9 included: On compulsory insurance 3.7 +23.3 2.1 times +5.7 On voluntary private insurance 4.6 +27.8 -47.7 +48.4 On voluntary property insurance 1.5 +15.4 7.5 times -37.5 ---------------------------------------------------------------------------- * on 01.01.10 the volume of insurance premiums on contracts of direct insurance amounted to 113,5 billion m. (including on mandatory - KZT30.5 billion for voluntary personal - KZT21.9 billion voluntary property - KZT60.9 billion). Volume of insurance premiums in the industry "Life insurance" - KZT9.3 billion. The volume of premiums allocated to reinsurance - KZT55.9 billion. The volume of insurance payments made under contracts of direct insurance - KZT27.8 billion (including on mandatory - KZT7.8 billion for voluntary personal - 8.8 billion m., on voluntary property - KZT11.2 billion). ** The amount of the assets listed by the proportion of the reinsurer (amended by Board of the National Bank of Kazakhstan # 86 of July 20, 2007) The share in total life insurance premiums amounted to 9.4% (on June 1, 2009 amounted to 7.2%). Currently, the system of guarantee insurance payments involved 31 Insurance (Reinsurance) organization. In May, in order to eliminate violations of the law regulating the insurance market, the FSA to address insurance (reinsurance) organizations were sent four written prescriptions, 4 messages - responsibilities. As of June 1, 2010 in the process of forced liquidation are 5 insurance (reinsurance) companies (JSC IC Rates Transit Police, JSC SWC "Currency Transit Life, JSC IC Altyn Polis, JSC UAC NASCO-Kazakhstan JSC and "Premier Insurance"). Specialized inter-district economic court of Almaty, February 15, 2010 decision on forced liquidation of JSC "Premier Insurance, which entered into force May 20, 2010 [2010-06-23]