Market Research Logo

Governance, Risk and Compliance - The Kazakhstani Insurance Industry

Governance, Risk and Compliance - The Kazakhstani Insurance Industry

Summary

GlobalData’s 'Governance, Risk and Compliance - The Kazakhstani Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Kazakhstan.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Kazakhstan, including -

  • An overview of the insurance regulatory framework in Kazakhstan.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Kazakhstan.
  • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
Key Highlights
  • The Committee for the Control and Supervision of the Financial Market and Financial Organizations under the National Bank of Kazakhstan is responsible for supervision and control of Kazakhstani insurance industry.
  • Composite insurance is not permitted in Kazakhstani insurance industry.
  • 100% FDI is permitted in Kazakhstani insurance industry.
  • The government of Kazakhstan imposes corporate income tax at 20%; capital gains are taxed at 20% and exempts dividends from taxation.
  • The placement of non-admitted insurance is not permitted in the insurance industry of Kazakhstan.
Scope
  • The report covers details of the insurance regulatory framework in Kazakhstan.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to buy
  • Gain insights into the insurance regulatory framework in Kazakhstan.
  • Track the latest regulatory changes, and expected changes impacting the Kazakhstani insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.


  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
  • Governance, Risk and Compliance
    • Table Kazakhstan – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Kazakhstan – Life Insurance Regulatory Framework
      • Property insurance
        • Table Kazakhstan – Property Insurance Regulatory Framework
      • Motor insurance
        • Table Kazakhstan – Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Kazakhstan – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workers' compensation insurance
      • Civil liability insurance for passengers
      • Crop Insurance
        • Table Kazakhstan – Premium Rates for Crop Insurance
      • Liability insurance for ships with respect to oil pollution
      • Social medical insurance
      • Travel insurance for tourist
    • Supervision and Control
      • Table Figure 1: Kazakhstan – Insurance Supervision and Control at Various Levels
      • International Association of Insurance Supervisors
      • Committee for the Control and Supervision of the Financial Market and Financial Organizations
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
    • Company Registration and Operations
      • Table Figure 2: Kazakhstan – Insurance Regulatory Frameworks for Company Registration and Operation
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Kazakhstan – Corporate Tax Rates for the Financial Year 2018
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Methodology
    • Contact GlobalData
    • About GlobalData
      • Table Figure 3: About GlobalData
    • GlobalData's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report