LONDON–(BUSINESS WIRE)–Kazakhstan’s insurance coverage market proved resilient to the difficult financial circumstances introduced on by the COVID-19 pandemic, and is well-positioned to face up to present financial uncertainties, new analysis from AM Best signifies.
According to a brand new Best’s Market Segment Report, “Kazakhstan Insurance: Business Lines Demonstrate Resilience and Growth as Economy Recovers”, the nation’s gross written premium grew even throughout the pandemic-impacted 2020. Growth then accelerated in 2021, pushed by the life section, and particularly, the demand for different funding and pension options.
In addition, additional developments within the section’s regulatory and legislative atmosphere have facilitated the event of latest merchandise, prompted extra environment friendly customer support, and had a constructive impression on shopper belief by way of enhanced transparency.
AM Best expects that Kazakhstan’s insurance coverage section will exhibit additional development within the medium time period, and whereas it’s prone to proceed to learn from the demand for funding and pension merchandise, that is anticipated to be partially offset by moderated development within the conventional non-life courses.
To entry a complimentary copy of this market section report, please go to http://www3.ambest.com/bestweek/purchase.asp?record_code=321373.
AM Best is a world credit standing company, information writer and information analytics supplier specialising within the insurance coverage trade. Headquartered within the United States, the corporate does enterprise in over 100 nations with regional places of work in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For extra data, go to www.ambest.com.
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