Kazakhstan Insurance Industry Governance, Risk and Compliance Report 2020 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Kazakhstani Insurance Industry – Governance, Risk and Compliance” report has been added to ResearchAndMarkets.com’s offering.

The report brings together 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.

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.

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 the Kazakhstani insurance industry.
• 100% FDI is permitted in the 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.

Key Topics Covered:

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

2 GOVERNANCE, RISK AND COMPLIANCE

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulation

2.3 Legislation and Market Practice by Type of Insurance

2.3.1 Life insurance

2.3.2 Property insurance

2.3.3 Motor insurance

2.3.4 Liability insurance

2.3.5 Marine, aviation and transit insurance

2.3.6 Personal accident and health insurance

2.4 Compulsory Insurance

2.4.1 Motor third-party liability insurance

2.4.2 Workers’ compensation insurance

2.4.3 Civil liability insurance for passengers

2.4.4 Crop Insurance

2.4.5 Liability insurance for ships with respect to oil pollution

2.4.6 Social medical insurance

2.4.7 Travel insurance for tourist

2.5 Supervision and Control

2.5.1 International Association of Insurance Supervisors

2.5.2 Committee for the Control and Supervision of the Financial Market and Financial Organizations

2.5.3 The Agency for Regulations and Development of the Financial Market of the Republic of Kazakhstan

2.6 Non-Admitted Insurance Regulations

2.6.1 Overview

2.6.2 Intermediaries

2.6.3 Market practices

2.6.4 Fines and Penalties

2.7 Company Registration and Operations

2.7.1 Type of insurance organization

2.7.2 Establishing a local company

2.7.3 Foreign ownership

2.7.4 Types of license

2.7.5 Capital requirements

2.7.6 Solvency margin

2.7.7 Reserve requirements

2.7.8 Investment regulations

2.7.9 Statutory return requirements

2.7.10 Fee structure

2.8 Taxation

2.8.1 Insurance premium or policy taxation

2.8.2 Withholding taxes on premium paid overseas

2.8.3 Corporate tax

2.8.4 VAT

2.8.5 Captives

2.9 Legal System

2.9.1 Introduction

2.9.2 Access to court

2.9.3 Alternative dispute resolution (ADR)

3 APPENDIX

For more information about this report visit https://www.researchandmarkets.com/r/9i2zgh

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