History

JSC “Kazakhinstrakh”, formerly called “Company on foreign insurance “Kazakhinstrakh”, was created in 1995 in accordance with the Decree of the President of RK #1658 dated April 16, 1994. The founder on behalf of the Government was the Ministry of finance, which vested 3 million tenge and 1 million US dollars in authorized capital of the Company.
On June 6, 2002 JSC “Kazakhinstrakh” was reorganized by a merger with “Industrial insurance group”. The aim of reorganization was to increase the level of equity capital of the Company.

In October 2006 the Company got the status of affiliated company of Halyk Bank of Kazakhstan.

The history of the Company is the history of successful development, events that occurred in the company during 12 years confirm this:

• December 2004:by the resolution of the Exchange committee the common stock (NIN-KZ1C39450016) of the Company is included in “A” category (high capability of repaying performance) of the official list of securities;

• May 2005: at VII International Forum “High quality in business”, which took place in Geneva, the Company was awarded a medal “For High Quality in Business Practice”;
• November 2005: foundation of JSC “Halyk Life”, the company on life insurance, which fully belongs to the Company;
• 2006: the Company got licenses on insurance of loans from other financial losses, guarantee and indemnity;

• October 2006: the Company got the status of a subsidiary of “Halyk Bank of Kazakhstan”;
• February 2007: the Company got the certificate of conformity of the quality management systems ISO 9001: 2001;

• November 2008: following the results of annual festival “Choice of the Year in Kazakhstan” the Company was given a title “ #1 Insurance company in 2008 in Kazakhstan”;

• April 2009: the Company was recognized the best insurance company (“Best insurer in Kazakhstan”) by “Euromoney” analytical magazine;

• July 2010: Moody International recognized that the quality management systems of the Company satisfy the requirements of international standard ISO 9001:2008.
• 2011. Credit rating of level A+ “Very high level of reliability” from “RA Expert Kazakhstan” agency.

• 2011. “B+” financial strength rating from A.M.Best the international rating agency.

• 2012. A.M.BEST COMPANY International rating agency defined the B++ (Good) financial strength rating of the Company and “bbb” Issuer Rating. The forecast of both ratings is considered stable.

• 2013. RA Expert Kazakhstan” agency increased the credit rating of JSC “Kazakhinstrakh” till level A++ “Exceptionally high (the highest) level of reliability”. The Company had A+ “Very high level of reliability” level before.


• 2013. A.M.BEST COMPANY International rating agency confirmed the B++ (Good) financial strength rating of the Company and “bbb” Issuer Rating. The forecast of both ratings is considered stable.
• 2014. RA Expert Kazakhstan” agency confirmed the credit rating of JSC “Kazakhinstrakh” till level A++ “Exceptionally high (the highest) level of reliability”. The Company had A+ “Very high level of reliability” level before.

• 2014. A.M.BEST COMPANY International rating agency confirmed the B++ (Good) financial strength rating of the Company and “bbb” Issuer Rating. The forecast of both ratings is considered stable.

• 2015. RA Expert Kazakhstan” agency increased the credit rating of JSC “Kazakhinstrakh” till level A++ “Exceptionally high (the highest) level of reliability”. The Company had A+ “Very high level of reliability” level before.

• 2015. A.M.BEST COMPANY International rating agency confirmed the B++ (Good) financial strength rating of the Company and “bbb” Issuer Rating. The forecast of both ratings is considered stable.

• 2015. “Leader of industry” award, Non-state non-life insurance among small enterprises of West-Kazakhstan oblast.