Best's Market Segment Report: Kazakhstan Insurance Business Lines Demonstrate Resilience and Growth as Economy Recovers

Kazakhstan's insurance market proved resilient to the challenging economic conditions brought on by the COVID-19 pandemic, and is well-positioned to withstand current economic uncertainties, new research from AM Best indicates.

According to a new Best's Market Segment Report, "Kazakhstan Insurance: Business Lines Demonstrate Resilience and Growth as Economy Recovers", the country's gross written premium grew even during the pandemic-impacted 2020. Growth then accelerated in 2021, driven by the life segment, and in particular, the demand for alternative investment and pension solutions.

In addition, further developments in the segment's regulatory and legislative environment have facilitated the development of new products, prompted more efficient customer service, and had a positive impact on consumer trust through enhanced transparency.

AM Best expects that Kazakhstan's insurance segment will exhibit further growth in the medium term, and while it is likely to continue to benefit from the demand for investment and pension products, this is expected to be partially offset by moderated growth in the traditional non-life classes.

To access a complimentary copy of this market segment report, please visit

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Posted In: Press Releases

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.