Draft law «On the insurance market»: status, timeline and key points for intermediaries

Status: draft. On 15 September 2026, the ARDFM published on the Open Regulatory Legal Acts (Open NPA) portal the draft Law of the Republic of Kazakhstan "On the Insurance Market", together with an accompanying bill on amendments to other acts. Public consultation will run until 7 October 2026. According to an ARDFM statement of 24 August 2026, the draft is expected to be submitted to the Kurultai of the Republic of Kazakhstan by the end of 2026. The law has not been adopted, and its provisions may change.

How we got here

• On 10 February 2026, at an expanded government meeting, the Head of State instructed that an insurance market development programme and a new law be drafted;
• On 18 February 2026, the ARDFM held its first meeting with market participants on the future law;
• In spring 2026, a regulatory policy consultation paper on both bills was put out for public discussion (until 28 May);
• On 24 August 2026, the Insurance Market Development Programme to 2030 was presented: 6 areas and 18 initiatives to be incorporated into the law.

What changes overall

The new law will consolidate provisions currently scattered across different acts. Upon its entry into force, the Law "On Insurance Activity" of 18 December 2000, the Law "On the Insurance Payments Guarantee Fund", seven sectoral laws on compulsory insurance and the Law "On Mutual Insurance" will be repealed. The establishment of mutual insurance societies will be prohibited, and existing societies will have to terminate their contracts by 1 January 2028. The accompanying bill amends more than ten codes and several dozen laws.

• 8 compulsory classes and 10 mandated types of insurance are merged into a single compulsory insurance model. The law sets basic guarantees, while tariffs and parameters are determined by secondary legislation.
• Compulsory home insurance against earthquakes, floods (spring floods) and natural forest fires is introduced. Owners of homes acquired before the rule takes effect will have to conclude a contract by 1 January 2031. In the consultation paper, the indicative premium ranged from 2,000 to 20,000 tenge per year.
• Solvency will be assessed on Solvency II principles, and requirements for risk management and corporate governance are tightened.
• A Central Actuary and a mandatory self-regulatory organization (SRO) of insurers are created. A Centre for the Development of Insurance Competencies, offering independent certification of specialists, will be set up on the basis of a subsidiary of the Insurance Payments Guarantee Fund.
• Licensing is simplified for branches of foreign insurers.

What matters for agents and brokers

• Separation of roles. Agents work mainly with the public on voluntary and compulsory products, while brokers provide professional support and claims settlement.
• Agents. Under the draft text (Article 157), an agent will be able to work with one or several insurance companies. Agent intermediation is prohibited for contracts under public procurement and for contracts where the policyholder is a legal entity. The insurance contract will have to state the agent's commission in tenge and as a percentage of the premium.
• Brokers. Settlement of insured events becomes part of broking activity and is not paid for separately. Before a contract is concluded, the broker must disclose to the client the source and structure of their remuneration. Existing broker licences will be reissued free of charge; the application must be filed within three months after the law enters into force.
• A new participant: the insurance consultant. This is an intermediary who helps the client obtain a payout. They must be entered in a register, disclose the amount of their remuneration, and may not buy out the right to claim the payout.
• Digital sales. The electronic contract becomes the main format for mass-market voluntary products, and obtaining permission to operate an insurance marketplace will become easier.

Under the draft, the main text of the law takes effect 60 calendar days after its official publication. The home insurance provisions take effect later, some of them from 1 July 2030. Comments on the draft can be submitted on the Open NPA portal until 7 October.