OREANDA-NEWS. August 30, 2010. Following seven months of 2010 intake premiums Kazakh insurance market amounted to KZT94.784 billion, which is higher than the same period last year to 8.8%, reported the press-centre of Eurasia Insurance Company.

In the market there has been some decrease in concentration. The share of the five leading insurance companies, as of 01 August this year, amounted to 50.80% of total premiums collected by insurers Kazakhstan. The leading five companies in the market have changed: Eurasia Insurance Company captured 14.85% of the market, Kazkommerts-Polis Insurance Company with 13.49%, Halyk-Kazakhinstrakh Insurance Company with 11.45%, AIG Kazakhstan – 5.79% and Oil Insurance Company, the fifth-largest share – 5.22%.

From January to July 2010, Eurasia’s premium income totaled KZT14.076 billion. The Paid-Up Share Capital of Eurasia Insurance Company is KZT31.122 billion or equating to 43.05% of the combined total share capital of all insurance companies in Kazakhstan.

As of 01 August 2010 the assets of Eurasia reached KZT59.712 billion, capital amounted to KZT36.186 billion, an increase of 7.7% over the previous. During this reporting period, Eurasia paid claims under contracts of insurance/reinsurance of KZT1.277 billion.

Eurasia Insurance Company was founded in 1995 and participates in the reinsurance of risks located in over 75 countries worldwide.

On 25 March 2010, the international rating agency AM Best reaffirmed Eurasia Insurance Company’s financial strength ratings on the level ‘B++’ and credit rating of ‘bbb’, with a stable outlook. This rating from A.M. Best is the highest among the CIS countries, Central and Eastern Europe.

On 22 July 2010, the international rating agency Standard & Poor's upgraded the long-term counterparty credit ratings and financial stability of Eurasia Insurance Company at the level "BB-". The outlook on the ratings is "stable". At the same time, the rating of Eurasia on a national scale has been confirmed at the level "kzA-". Standard & Poor’s included Eurasia Insurance Company amongst the 150 largest reinsurers of the world, ranking it 131st.

Today, Eurasia has the highest rating of Standard & Poor's among all private financial institutions in the Republic of Kazakhstan.