Capitalization of CSJ "Eurasia" exceeded a record 16 billion tenge

On August 16, 2022, the authorized capital of JSC "Eurasia Life Insurance Company" increased by 1,050,000,000 tenge, reaching a volume of 16,002,193,000 tenge. This year, this is the second replenishment made by the sole shareholder of JSC "SC "Eurasia" to the authorized capital of its "daughter".

The planned growth of the authorized capital is associated with the shareholder's long-term strategy for the development of CSJ "Eurasia" as a backbone insurance company in the industry with an authorized capital of 30 billion tenge.

To date, CSJ "Eurasia" already occupies a leading position in terms of capitalization, it accounts for almost a third of the total authorized capital of all participants in the "life insurance" market, including state-funded companies.

As of July 1, 2022, the total authorized capital of nine life insurance companies of the Republic of Kazakhstan amounted to 48.6 billion tenge, taking into account the increase, it reached almost 50 billion tenge, of which 16 billion tenge. it falls on the CSJ "Eurasia".

The company aims to actively develop both through the introduction of life insurance products expected by the market, such as a socially significant insurance product within the state educational funded system and a joint pension annuity, and through the implementation of innovative products to improve customer service, personalization of insurance rates, which will make insurance products even more convenient and affordable.

"In the conditions of global instability of external macroeconomic and geopolitical factors, the next increase in the authorized capital is a demonstration of the company's high financial reliability for the long term, an absolute guarantee of fulfillment of obligations to our customers, as well as an indicator of shareholder confidence," said Gulmira Ubegalieva, Chairman of the Management Board of JSC CSJ Eurasia.