Kazakhstan’s Insurance Market Assets Approach $8 Billion
Kazakhstan’s insurance sector demonstrated steady growth in 2025, with total assets increasing to 3.9 trillion tenge (US$7.9 billion) and insurance premiums rising 12.5% year-on-year to 1.7 trillion tenge (US$3.4 billion). Growth was primarily driven by voluntary personal and property insurance, as well as higher investment income, according to the Agency for Regulation and Development of the Financial Market (ARDFM).
As of January 1, the market comprised 25 insurance companies, including 10 life insurers. Securities represented the largest share of assets at 74.8% (2.9 trillion tenge, or US$5.9 billion), followed by cash and bank deposits at 7.7%, and insurance receivables at 4.1%.
Liabilities increased 28.7% to 2.8 trillion tenge (US$5.7 billion), while equity capital grew 16.7% to 1.1 trillion tenge (US$2.2 billion). The sector’s net profit reached 245.6 billion tenge (US$497.9 million).
Premium growth was led by voluntary personal insurance, which rose 6.2% to 846.4 billion tenge (US$1.7 billion), and voluntary property insurance, up 25.8% to 576.4 billion tenge (US$1.2 billion). Compulsory insurance premiums totaled 271.8 billion tenge (US$551 million), representing an 8% increase over 2024.
Insurance payouts increased 38.1% to 461.4 billion tenge (US$935.3 million), primarily due to a sharp rise in property insurance claims. A total of 1.7 million insurance payments were made during the year, reflecting the sector’s growing role in risk protection and financial stability.
