FSA characterized the Insurance Market of Kazakhstan as at February 1, 2011 (on preliminary data)

/IRBIS, February 23, 2011/ - 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 February 1, 2011 (according to preliminary data). According to FSA, as at February 1, 2011, in compliance with the licenses issued by the Agency, 38 insurance (reinsurance) organizations deal with insuring activity, at that 7 organizations have licenses for life insurance, 26 - licenses on compulsory insurance of transport owners' civil responsibilities. Also, on the market of insurance services 14 brokers and 70 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 01.02.11 For For ------------------------------------ -------- month year Joint assets* 349.2 +1.7 +13.2 Joint shareholders equity 203.8 -2.3 +10.8 Insurance reserves 125.3 +9.1 +19.1 Volume of insurance premiums, received by agreements for direct insurance included: 20.7 6.8 times +69.7 On compulsory insurance 3.2 11.1 times +10.3 On voluntary private insurance 6.0 5.9 times +46.3 On voluntary property insurance 11.4 6.1 times 2.2 times Volume of insurance premiums on life insurance 1.6 11.6 times +77.8 Sum of insurance premiums, given to reinsurance 5.9 10.2 times +63.9 Volume of insurance payments made by agreements of direct insurance 11.5 times included: 2.2 +57.1 On compulsory insurance 0.8 11.6 times +60.0 On voluntary private insurance 1.3 10.0 times +62.5 On voluntary property insurance 0.6 4.8 times 6.0 times -------------------------------------------------------------------- * The amount of the assets listed by the proportion of the reinsure (amended by Board of the National Bank of Kazakhstan # 86 of February 20, 2007) The share of life insurance in total insurance premiums amounted to 7.8% (on February 1, 2010 amounted to 7.2%). On reinsurance Kazakhstan transferred 26.5% of total premiums (on February 1, 2010 the share of insurance premiums ceded to reinsurance of Kazakhstan, was 26.2%). At present the system to guarantee insurance payments involved 27 insurance (reinsurance) organizations. In January, in order to eliminate violations of the laws governing the insurance market, the FSA to address insurance (reinsurance) companies were sent six written orders and 3 letters of commitment. As of February 1, 2011 in the process of forced liquidation are 3 insurance (reinsurance) companies (JSC "SC" Altyn Polis JSC, "NSC" NASCO- Kazakhstan "JSC and" Premier Insurance "), in the process of voluntary liquidation is an insurance (reinsurance) company (JSC "SC" Temir Am "). As at February 1, 2011 during the forced liquidation are 3 insurance (reinsurance) companies (JSC Altyn Polis, JSC NSC NASCO-Kazakhstan and JSC Premier Insurance), in the process of voluntary liquidation is an insurance (reinsurance) company (JSC Temir At). [2011-02-24]