BAKU, Azerbaijan, June 23. As of May 1, 2026,
the assets of Kazakhstan’s insurance sector reached 4.136 trillion
tenge (about $8.47 billion), which is an increase of 5.8% since the
beginning of the year.
The data is disclosed by the Agency for Regulation and
Development of the Financial Market of Kazakhstan.
For comparison, the total assets of insurance organizations
stood at 3.910 trillion tenge ($8.01 billion) at the start of 2026.
As of May 1, securities dominate the asset structure, accounting
for 73.7% of the total, or 3.047 trillion tenge ($6.24 billion).
This represents a 4.21% increase compared to the 2.924 trillion
tenge ($5.99 billion) recorded at the beginning of the year.
The agency noted that deposits held in second-tier banks
amounted to 246.196 billion tenge ($504.1 million), representing a
6% share of total assets. This figure marks a 4.2% decrease from
the 257.123 billion tenge ($526.5 million) recorded at the
beginning of 2026, when they accounted for 6.6% of the total.
According to the official data, reinsurance assets reached
157.927 billion tenge ($323.4 million), making up 3.8% of total
assets. This is a 16.1% increase from the 136.053 billion tenge
($278.6 million) recorded at the start of the year, at which time
they comprised 3.5% of total assets.
The insurance sector is currently represented by 25
organizations, 10 of which specialize in life insurance.
The agency, in collaboration with the National Bank,
international consultants, and the professional community, is
currently developing the Insurance Market Development Program until
2030 and a new Law on Insurance Activities.
The main objective of the program is to strengthen the
contribution of the insurance sector to the national economy,
particularly in areas where a significant portion of risks and
financial liabilities currently rests with the state. The
initiative aims to position insurance as a key institution for
fostering a culture of shared responsibility among the state,
citizens, and businesses regarding potential risks.
The currency conversions are based on the official exchange rate
of the National Bank of Kazakhstan as of June 20, where 1 USD =
488.37 tenge.
The data shows that Kazakhstan’s insurance sector continues
steady expansion, with growth driven mainly by securities, which
dominate the asset structure. Despite a slight decline in bank
deposits, overall asset growth and rising reinsurance volumes
indicate strengthening market activity and gradual diversification
of investment channels.
