Kazakhstan Insurance Report Q4 2016

Publisher Name :
Date: 07-Sep-2016
No. of pages: 55

BMI View: From a low base, Kazakhstan's insurance market should undergo steady expansion through the

forecast period as an improving economic climate begins to drive household incomes higher, leading to

increased levels of spending and demand for discretionary insurance products. The life insurance sector,

which is the smaller of the two markets we monitor, should record double-digit growth in premiums in USD

terms through 2016-2020, through remaining a small market by global standards. While growth non-life

premiums will be slower, there are opportunities for investors in lesser-developed sub-sectors such as

health and personal accident insurance. The fragmented nature of the competitive landscape opens the door

for acquisitions and local partnerships, particularly as the regulatory environment starts to improve.

Key Updates And Forecasts

? An improving outlook for Kazakh economy is beginning to filter through into consumer markets and

demand for life, health, motor and other major insurance lines. Rising oil prices and graduate

strengthening of the tenge has lead BMI's Country Risk team to revise its headline economic forecasts,

with real GDP set to grow by 2.4% in 2017 before expanding by 5.1% a year over 2016-2017.

? The life insurance sector should be one of the main beneficiaries of the country's improving economic

climate, with premiums set to expand by 19.7% in local currency terms in 2016. Positive growth will

resume in US dollar terms from 2017, with premiums forecast to expand by 14.5% a year over 2017-2020

to reach USD525mn.

Kazakhstan Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Kazakhstan 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Kazakhstan 2013-2020) 12
Table: Life Insurance Claims (Kazakhstan 2008-2015) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Kazakhstan 2013-2020) 17
Table: Non-Life Insurance Claims (Kazakhstan 2009-2015) 19
Non-Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Kazakhstan 2013-2020) 29
Insurance Risk/Reward Index 31
Emerging Europe Risk/Reward Index 31
Table: Emerging Europe Insurance Risk/Reward Index - Q416 32
Market Overview 33
Life Market Overview 33
The Product Offering 33
The Competitive Landscape 33
Table: Life Market Share, 2009-2015 (USDmn) 35
Non-Life Market Overview 36
The Product Offering 36
The Competitive Landscape 36
Table: Non-Life Market Share, 2007-2014 (USDmn) 38
Company Profile 40
Eurasia 40
Kazakhinstrakh 42
London Almaty Insurance Company 44
Nomad Insurance 47
Methodology 49
Industry Forecast Methodology 49
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

List of Tables

Table: Headline Insurance Forecasts (Kazakhstan 2013-2020)
Table: Life Premiums (Kazakhstan 2013-2020)
Table: Life Insurance Claims (Kazakhstan 2008-2015)
Table: Non-Life Premiums (Kazakhstan 2013-2020)
Table: Non-Life Insurance Claims (Kazakhstan 2009-2015)
Table: Non-Life Insurance Premiums by Product Line (Kazakhstan 2013-2020)
Table: Emerging Europe Insurance Risk/Reward Index - Q416
Table: Life Market Share, 2009-2015 (USDmn)
Table: Non-Life Market Share, 2007-2014 (USDmn)
Table: Indicators
Table: Weighting of Indicators
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