Baiterek National Managing Holding and Swiss Re Discussed the Development of Agricultural Insurance in Kazakhstan

On October 1, 2025, First Deputy Chairman of the Management Board of Baiterek National Managing Holding, Nurbolat Aidapkelov, held a meeting with representatives of the international reinsurance company Swiss Re and the Ministry of Agriculture of the Republic of Kazakhstan.

The meeting was attended by Director of the Department of Financial Instruments and Microcrediting of the Ministry of Agriculture, Zhanar Mahanova, representatives of the Agricultural Insurance Association, as well as Head of Agricultural Centre and Parametric Reinsurance at Swiss Re, Andriesse Marius Christiaan.

From Baiterek National Managing Holding, the participants included Managing Director Niyaz Koshkimbaev, Deputy Chairman of the Management Board of Agrarian Credit Corporation JSC Timur Ayapbergenov, and Director of the Department for Agricultural and Housing Construction Programs of the Holding, Ruslan Tyulegenov.

The discussion focused on key issues related to the further development of the agricultural insurance system in Kazakhstan. Special attention was given to the division of agricultural lands within districts into smaller quarterly plots, which will allow for more effective and fair assessment of the impact of adverse weather conditions on insured farms.

The participants also discussed the prospects for developing existing and new insurance programs in crop and livestock production, as well as measures to encourage agricultural producers to participate in crop insurance against climate risks.

“Joint work with leading global reinsurers will enhance the effectiveness of agricultural insurance and provide Kazakhstan’s farmers with more affordable and reliable products. This directly contributes to the resilience of the agricultural sector and the country’s food security, as well as improves the investment attractiveness of agriculture,” noted Nurbolat Aidapkelov during the meeting.

The participants confirmed their interest in expanding bilateral cooperation and applying the best international practices of agricultural insurance for domestic agricultural producers.

Reference

Since 2020, Kazakhstan has had a system of voluntary agricultural insurance with state support: up to 80% of the insurance premium is subsidized from the state budget. The operator in the field of agricultural insurance is a subsidiary of Baiterek National Managing Holding — Agrarian Credit Corporation JSC. Leading international companies are involved in risk reinsurance: Swiss Re (Switzerland), XL Insurance Company SE (France), Generali (Italy), and Liberty Mutual Insurance Europe SE (Luxembourg).