Eurasia Insurance Company JSC is a large Kazakhstan insurance company , one of the leaders in the insurance market of the Republic of Kazakhstan. For several years it has been number one in terms of collected insurance premiums , insurance payments and assets [1] , controls about 25% of the country's insurance market [2] The head office of the company is located in Almaty .
| Insurance company "Eurasia" | |
|---|---|
 | |
| Type of | Joint-Stock Company |
| Activities | Insurance |
| Year of foundation | 1995 |
| Location |  Kazakhstan :  Alma-ata |
| Key figures | Umanov Boris Grigorievich (Chairman of the Board) |
| Insurance premiums (fees) | 64.8 billion tenge (2018) [1] |
| Insurance payments | 27.4 billion tenge (2018) [1] |
| Site | theeurasia.kz |
According to the National Bank of the Republic of Kazakhstan as of July 1, 2019, it ranks first in the list of Kazakhstan insurers in terms of assets, insurance reserves , equity and charter capital, as well as insurance premiums [1] .
The owner of the company is Eurasian Financial Company JSC, affiliated with the Eurasian Group (ERG, formerly ENRC) [3] .
Activities
Eurasia Insurance Company was established in 1995 in the form of a joint stock company. Over the 24 years of operation, Eurasia has become the largest insurance company in the Republic of Kazakhstan, holding the status of the absolute leader in the country's insurance market over the past 15 years .
The company is licensed for all classes of insurance provided for by the legislation of the Republic of Kazakhstan. .
Eurasia IC plays a major role in geographical diversification in developing business, developing partnerships with companies around the world. Today the company operates in more than 150 countries. As of July 1, 2019, the company accounts for 89.95% of the total volume of incoming reinsurance in the Republic of Kazakhstan and about 97.54% of the total volume of incoming reinsurance from abroad .
Eurasia Insurance Company is a member of the Association of Financiers of Kazakhstan [4] .
Ratings
Standard & Poor's : on August 14, 2019, the international rating agency S&P Global Ratings upgraded the issuer's long-term credit rating and financial stability rating of Eurasia Insurance Company JSC from BBB- to BBB, maintaining the outlook as stable. The rating of IC Eurasia on the national scale remained at the level of "kzAAA" [5] .
AM Best : On July 25, 2019, the international rating agency AM Best changed its outlook to a stable long-term issuer rating of Eurasia Insurance Company JSC, confirming a financial stability rating of B ++ and a long-term issuer rating of bbb +.
Notes
- ↑ 1 2 3 4 Data of the National Bank of Kazakhstan on insurance companies
- ↑ Arailym Aulbekova. Head of Eurasia IC: We insure oil wells in the Gulf of Mexico, but they do not give us in the Caspian . Forbes (November 14, 2018).
- ↑ Asel Dzhanabaeva. Who owns the Eurasian business (Inaccessible link) . Radio point (January 27, 2016). Date accessed August 19, 2017. Archived April 2, 2016.
- ↑ Kazakhstan Financiers Association - member register - insurance companies
- ↑ Eurasia IC is the first company in Kazakhstan with a BBB rating