"Kazakhstan Insurance Report Q2 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Mon Feb 09 2015

Kazakhstan's insurance sector is small and is dominated by its non life lines of business. The immaturity of the market is to some extent a reflection of its consumer base, divided between large corporate clients and private individuals who have yet to show an appetite for voluntary products, particularly life insurance. Through the forecast period we do not expect other than modest growth across all insurance segments.

We believe that Life business will continue to show very modest growth through to 2019, but starting from a low base it will continue to be overshadowed by the non-life market. As disposable income rises consumers appear to be more interested in purchasing health insurance than life products and we anticipate that this sub sector will outperform the non life sector as a whole.

Our view is that there will be a significant growth in private car ownership with the passenger car fleet growing rapidly in the latter part of the forecast period. This will ensure that the motor insurance subsector retains its importance to the non life market. USD figures may be affected by exchange rate fluctuations caused by the fall in global oil prices which in themselves will also create concerns about the Khazak economy itself, dependent as it is on hydrocarbons.

Full Report Details at
- http://www.fastmr.com/prod/953245_kazakhstan_insurance_report_q2_2015.aspx?afid=302

Recent Developments :

* Through mid-2014, Alliance Polis announced the opening of a number of medical clinics in different cities across Kazakhstan.
* Nomad Insurance increased its authorised capital by KZT1.2bn in August 2014.
* In September 2014, Kazakhinstrakh indicated that the government is looking to introduce compulsory insurance against natural catastrophe damage for all home owners.
* In mid-October 2014, Fitch Ratings revised its outlook for Alliance Polis from negative to stable and confined its insurer financial rating at B.
* In January 2015 the Khazakhstan stock exchange revealed a five-fold increase in activity in the local currency swaps market to a daily average of USD2bn....

The Kazakhstan Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Kazakhstan Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Kazakhstani insurance industry.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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