Domestic insurance premiums reinsured more than double

The Association of Financiers of Kazakhstan said that the volume of insurance premiums reinsured domestically more than doubled to 19 billion Kazakhstani Tenge ($42.49 million) in 2022 from KZT9 billion in 2021, showing an increase in capacity in the country’s insurance market, Xprimm reported. The volume of inward reinsurance grew by 20%, while the volume of premiums ceded to reinsurance to foreign firms fell 2%.