OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, Valeria Ermakova, senior financial analyst, and Yevgine Asatryan, financial analyst, both at A.M. Best, examine the factors driving growth among insurers in Kazakhstan, along with their varying abilities to respond to regulatory changes. Click on http://www.ambest.com/v.asp?v=kazakhstan618 to view the entire program.
Over the past three decades, the Kazakhstan insurance market has grown due to economic growth and regulatory development.
“The insurance regulations in Kazakhstan are developing,” said Ermakova. “They are subject to frequent modifications, which can affect revenue sources of insurance companies. … Frequent modifications to insurance regulations present a challenge for local insurance companies, since some are lacking an ability to defend their competitive position when the regulations change. This is especially true for small insurance companies.”
Asatryan highlighted the overall profitability of the market.
“In the period from 2015-2017, the market recorded a return on equity of about 26%,” said Asatryan. “However, that number is somewhat distorted by the large foreign exchange gains recorded in 2015, as a result of local currency devaluation.”
To access a copy of this special report, titled, “Kazakhstan’s Insurance Market – Rating Considerations,” visit http://www3.ambest.com/bestweek/purchase.asp?record_code=272785.
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