OREANDA-NEWS. September 12, 2012. After the first seven months of 2012, income premiums of Kazakh insurance market reached KZT132.4bn, which is higher than last year at 19.2%

Within the market there is a slight decrease in concentration. Thus, the share of the five leaders as of 01 August this year amounted to 45.6% 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 16% of the market; Halyk - Kazakhinstrakh Insurance Company took the second position to collect 9.5% of all premiums, Almaty International Insurance Group took the third position with 8.3%, NOMAD Insurance is the forth in respect of collected premiums with the result of 5.9%, and the fifth, NOMAD -life, with a share of 5.9%

On August 01, 2012 Eurasia has collected premiums of KZT21.1bn, or 25.2% which is more than last year. Authorized capital of Eurasia Insurance Company as of 01 August, 2012 is equal to KZT40bn or 41.3% of the aggregate capital of all insurance companies in Kazakhstan.

As of 01 August, 2012 Eurasia’s assets are reached KZT75.4bn, and have increased by 16.0% over the same period last year. Capital as of 01.08.2012 is amounted to KZT49.7bn, which is 11.0% more than a year earlier.

One of the main indicators of reliability of the insurance companies is the insurance payments. Thus, the share of Eurasia has 15.1% or KZT5.9bn of total payments made by domestic insurance companies for the seven months of 2012. Thus, Eurasia Insurance Company is also ranks in the first position in terms of making insurance payments within the market.

Eurasia Insurance Company 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.

On March 2012, the international rating agency AM Best reaffirmed JSC Eurasia Insurance Company’s financial strength ratings on the level "B++" and credit rating "bbb+", with a stable outlook.

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.