05 September 2025, Almaty – London. – International rating agency AM Best has revised the outlook of Eurasia Insurance Company from “Stable” to “Positive,” while affirming the Financial Strength Rating at B++ and the Long-Term Issuer Credit Rating at “bbb+.” Thus, Eurasia Insurance Company remains a market leader and continues to hold the highest rating among all insurance companies in Kazakhstan, according to AM Best.

In its decision to revise the outlook, the agency’s analysts highlighted Eurasia’s solid balance sheet, strong operating performance, neutral business profile, and appropriate corporate risk management.

AM Best expects that Eurasia Insurance Company will continue to demonstrate resilience and maintain its risk-adjusted capitalization at the highest possible level, supported by robust internal capital generation and a dividend recapitalization policy.

“This year Eurasia celebrates its 30th anniversary. The agency’s decision is not a gift, but the result of many years of efforts by the company’s shareholders, management, and entire team aimed at enhancing operational efficiency and strengthening our position, including in international reinsurance markets,” commented Kairat Chegebayev, Chairman of the Management Board of Eurasia Insurance Company.

According to AM Best analysts, Eurasia’s strong operating results are underpinned by solid underwriting profitability. The company manages its portfolio effectively by adjusting premium rates, carefully selecting risks, and setting conservative limits for its inward reinsurance portfolio.

It is also noted that Eurasia holds a strong position in the domestic insurance market and benefits from geographic diversification through international inward reinsurance. Business from the United States, Europe, and India accounted for about half of the premiums written last year.

In 2024, Eurasia Insurance Company attracted more than USD 170 million, or 70% of premiums from non-residents, accounting for 14% of Kazakhstan’s total exports of financial services.

According to the National Bank of Kazakhstan, in the first half of the year Eurasia Insurance Company’s assets exceeded KZT 670 billion, representing 43.2% of the general insurance market. In the first six months, the company collected KZT 121 billion in premiums and made KZT 48 billion in claim payments. Net profit for the half-year exceeded KZT 32 billion — more than half of the entire general insurance sector.

AM Best is a U.S.-based rating agency founded in 1899. It specializes in assessing the insurance industry, and its ratings are recognized by the U.S. Securities and Exchange Commission (SEC) as well as by regulators in Europe and Asia.