The development of insurance in Kazakhstan: the risks and way of development of real competition

Abstract

This article discusses the problem of insurance companies in Kazakhstan, insurance-related risks and the lack of real competition in the insurance market.In modern practice, the process of insurance is closely linked with the overall management of assets and liabilities of the company. The process covers the entire set of actions aimed at eliminating or at least reducing business risk. The paper shall state the reasons that hinder the development of a more dynamic market. Outstanding issues related to the taxation of insurers and policyholders. The functionality of the domestic insurance industry is still not comparable to those of developed countries.