OREANDA-NEWS. November 03, 2009. "Eurasia" insurance company reported its working results for 9 months of the year and commented the situation on the insurance market of Kazakhstan.

In the beginning of the year, the company forecasted insurance market fall at the level of 30 percent, August of this year the prognosis came true, however, by the result of 9 months of the year is figure decreased to 23 percent. At the same time, other forecasts made by the company for this year have come true.

There has been observed decrease of voluntary insurance by 37 percent as for the previous year, however, the situation in the branch of obligatory insurance is quite stable and the growth has been fixed at the level of 0.6 percent. The growth is not significant as would wish to observe it, but talking about "Eurasia" position in crisis conditions, we can say that the time of market fall the company has been observing growth," said Nazym Tulchinskiy, deputy chair figure of "Eurasia" company. By the results of 9 months of the year we have fixed premiums collection at the 1 of over 26 billion tenge, this exponent is 45 percent higher the registered last year. As for October 1, the company's assets.

increased by almost 40 percent and reached over 61 billion tenge. The company's capital has reached the level of 34.7 billion tenge and grew up by 37.5 percent as for 2008. In 9 months of the year the company paid 2.067 billion tenge of compensations on insurance treaties. By the results of 9 months of the year, the share of "Eurasia" company was equal to 25 percent out of total insurance market of Kazakhstan. Talking about its success, Nazym Tulchinskiy said, "today we position ourselves as reinsurance company, as up to 95 percent of incoming reinsurance in Kazakhstan belongs to "Eurasia" share.

Today it is the only company in Kazakhstan, which attracts insurance premiums from abroad. When we started to observe reduction in the world economy, we realized that it would result into reduction of insurance market inside the country. We concentrated our activity at incoming reinsurance. As a result, the company started to work at the international markets more actively. As for today, up to 60 percent of insurance premiums paid by "Eurasia" were the part of incoming reinsurance," said Nazym Tulchinskiy.

In fact, "Eurasia" was recently included into the list of 150 biggest reinsurance companies of the world, taking 126th place in Standard&Poor's ranking. Besides, the rating agency increased the company's rating to BB-. "It is a unique case, when the rating of a company, which country suffered of crisis has been increased," said Nazym Tulchinskiy. The company's representatives declared that diversifying the risks to the fullest, "Eurasia" keeps on developing new horizons for Kazakhstani market expanding its business geography. Today, the company actively takes part in the International projects, such as reinsurance of Jawaharlal Nehru Trust - the largest port in India, it cooperates with jewelry and accessories shops of Christian Dior, Bulgari and Tiffany, and it reinsures the construction of the sea drilling platform in Vietnam and others.

During a press conference, "Eurasia"' representatives stated about the introduction of "Saktau" unique informational system, which lets the company 100 percent guarantee correctness and authenticity of the insurance policy given to a client. "The system through multi-stage control prevents swindle among the insurance agents and among the consumers of insurance services," said Nazym Tulchinskiy. Today, every client of the insurance company after getting an insurance policy gets an sms from the company with all the information about his insurance premium.

Besides that, the company's top managers announced the introduction of special platform letting model the development of business activity and take managing decisions. "It is not a secret that in the time of crisis many people want to get answers to many questions. What will be if I take this or that decision? If I start new business? Or if I reduce insurance premium on this or that type of business? The mathematic model lets us answer these questions with very high probability," said Nazym Tulchinskiy. The project is implemented jointly with professionals working in mathematic modeling branch. "We are trying to introduce into our every day activity the best experience which our western colleagues have, we believe that investments into such platform will increase the quality of company's services," said Nazym Tulchinskiy.