OREANDA-NEWS. November 02, 2012. After the III quarter of 2012, income premiums of Kazakh insurance market reached KZT171.5bn, which is higher than last year at 24.8%

Within the market there is a slight decrease in concentration. Thus, the share of the five leaders as of 01 October this year amounted to 46.5% 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 13.6% of the market; Almaty International Insurance Group took the second position to collect 9% of all premiums, NOMAD -life took the third position with 8.7%, Halyk - Kazakhinstrakh Insurance Company is the forth in respect of collected premiums with the result of 8.3%, and the fifth position took NOMAD -Insurance, with a share of 6.8%

On October 01, 2012 Eurasia has collected premiums of KZT23.3bn, or 20.3% which is more than last year. Authorized capital of Eurasia Insurance Company as of 01 October, 2012 is equal to KZT46.1bn or 44.6% of the aggregate capital of all insurance companies in Kazakhstan.

As of 01 October, 2012 Eurasia’s assets are reached KZT76.2bn, and have increased by 17.4% over the same period last year. Capital as of 01.10.2012 is amounted to KZT51.4bn, which is 11.5% 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 14.2% or KZT7.3bn of total payments made by domestic insurance companies for the nine 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 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.

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.