Government of Kazakhstan increased equity of "Life Insurance Company "State annuity company" JCS by KZT 1.3 billion

/IRBIS, November 17, 2011/ - The Government of the Republic of Kazakhstan increased the authorized capital of "Life insurance company "Public Annuity Company" JCS by 1,313,587,000 KZT, reported the press service of the company. As indicated, in order to ensure the financial stability the Government of the Republic of Kazakhstan, a 100% shareholder, capitalized the charter capital of SAC. The size of the share capital of the Company amounted to 3 billion 560 million 298 thousand tenge. "In the outgoing 2011 SAC retained the name of leader in a number of financial indicators, including the involvement of insurance premiums to ensure insurance premiums and reserves. On the size of the assets the company is stable participant of "top ten" leaders of the life insurance market", - was said in a statement . However, it is noted that the additional capitalization of JSC "Life Insurance Company "SAC" was performed as part of planned work to ensure financial stability. In 2012, the Company will continue to develop the distribution network and customer-centric policy implementation. As a result of the work, the company plans to become a leader in terms of assets among life insurance companies. JSC "Life insurance company "State Annuity Company" was founded in 2004, Government Resolution in order to successfully implement the Programme of the insurance market and RC programs to further deepening of social reforms in the country. Manage the complete block of shares transferred to the Ministry of Labour and Social Protection. Company has offices in 25 cities of Kazakhstan, and an extensive network of insurance agents. SAC has consistently been a leader among life insurance companies in Kazakhstan. [2011-11-17]