After being negatively affected by the global financial crisis Kazachstan's insurance market has enjoyed a strong recovery over the past two years which is continuing into 2012, according to a report by AM Best.
Vienna Insurance Group is eyeing acquisitions in eastern Europe, its main profit driver, and could make a record profit this year if there are no major natural catastrophes.
The Islamic Financial Services Board has admitted five new organisations into its membership.
Fitch Ratings has assigned JBC Insurance Company Nomad Insurance an insurer financial strength rating of 'B-' and a national IFS rating of 'BB-(kaz)'.
RFIB, the Lloyd’s insurance and reinsurance broker, has expanded its presence in Eastern Europe with the opening of an office in Almaty, Kazakhstan, and the appointment of Galina Pakhomova as chief representative for the country.
Fitch Ratings has assigned Kazakhstan-based non-life insurance group Amanat Insurance a 'B' Insurer Financial Strength (IFS) rating and a National IFS 'BB(kaz)' rating. The Outlooks are Stable.
Three European independent insurance brokers, Siaci Saint Honore, Greco Group and Ecclesia Group have come together with Jardine Lloyd Thompson to sign an exclusive trading agreement.
Willis has received official approval from local authorities to open a representative office in Kazakhstan.