OREANDA-NEWS. July 04, 2012. Eurasia Insurance Company increased the collection of premiums 21.9% more than the similar index of the previous year, - the press service of the insurance company informed, Kazakhstan Today reported, reported the press-centre of Eurasia Insurance Company.   

Paid up share capital of Eurasia Insurance Company as of June 1, 2012 amounts to KZT40bn, or 41.3% of the total charter capital of all insurance companies in Kazakhstan.

As of June 1, 2012 assets of Eurasia Insurance Company reached KZT72.4bn, being increased by 10.6% over the same period last year. Capital as of June 1, 2012 amounted to KZT48.3bn or 13.2% more than the similar index of the previous year.

In 2012 Eurasia had already paid about KZT4,4bn or 16,5% of the aggregate payments made by domestic insurance companies for the last five months of this year. Eurasia Insurance Company reaffirmed its absolute leadership.

Kazakh insurance market premiums during the first five months of 2012 reached KZT94.1bn, an increase over the same period last year of 17.7%, - the press service of the insurer informed.

Within the market there is a slight decrease in concentration. Thus, the share of the five leaders as of 01 June this year amounted to 46% of total premiums collected by insurers of Kazakhstan. The composition of the five leaders has undergone some changes: the primacy is traditionally held by Eurasia Insurance Company, occupying 18.1% of the market; Halyk - Kazakhinstrakh Insurance Company took the second position to collect 11% of all premiums, Almaty International Insurance Group took the third position with 6.6%, Nomad Insurance Company- 5.4% of total premiums, and the fifth, Kazkommerts-Life, with a share of 5.0%

Eurasia Insurance Company JSC was founded in 1995. Thereby, Eurasia operates in more than 75 countries and is included among 150 largest reinsurers of the world, occupying the 123rd rating of Standard & Poor's.

In March 2012 the leading international rating agency AM Best affirmed the JSC “Insurance Company “Eurasia” “bbb+” credit rating and the financial strength ratings to be on “bbb+” level, outlook for both ratings is stable.

In June 2012 the international rating agency Standard & Poor’s had revised its outlook on Kazakhstan-based Eurasia Insurance Company to “positive” from “stable”. At the same time, the “BB” long-term counterparty credit and financial strength rating and ‘kzA’ Kazakhstan national scale rating were affirmed.