Fund's history

2003

the Fund was established in August 2003 on the basis of the Decision of the Board of Directors of the NBRK dated 25.07.2003 № 258 for the purpose of providing the insured persons with the state guarantee;

Adoption of the Law of the Republic of Kazakhstan "On the Insurance Benefits Guarantee Fund" (№423-II);

In November, the Fund began concluding agreements with insurance companies to participate in the Insurance Benefits Guarantee System.

2005

2008

the sole founder, represented by the NBRK, decided to sell 100% of its shares in the amount of 50 000 units to insurance companies - participants of the Fund.

The Letter of Intent was signed by the insurance organisations - participants of the Fund to purchase shares of the Fund in the amount determined by the Letter of Intent. The Memorandum was signed by 31 insurance organisations - participants of the Fund;

General insurance companies became shareholders of the Fund;

In accordance with the amendments and additions to the Law of the Republic of Kazakhstan "On the Guarantee Fund of Insurance Payments", the Fund was given an additional function: to make payments to compensate for damage caused to the life and health of the victim, and (or) funeral expenses in cases where it is not possible to identify the person who fled from the scene of a traffic accident and is responsible for causing damage to the victim.

2009

The Code of Corporate Governance of the Fund was approved.

2011

Life insurance companies became shareholders of the Fund.

2015

• in case of injury to life - 1,000;
• in case of serious damage to health - 500;
• funeral expenses - 100.

2018

The representatives of the CSW were included in the Board of Directors of the Fund.

2022

The Fund became a member of the International Forum of Insurance Guarantee Schemes (IFIGS).