Halyk Life

What Halyk Life does

Halyk Life (legal entity «Халық-Life» АҚ, or Halyk-Life JSC) is a Kazakhstan-based life insurance company founded in 2005 and headquartered in Almaty. It operates as a wholly-owned subsidiary of Halyk Bank (Kazakhstan Halyk Bank JSC), which holds 100% of its shares, and is the market leader in Kazakhstan life insurance by assets, equity capital, and insurance reserves, serving more than 800,000 clients across the country. The company carries the highest available ratings in Kazakhstan — S&P BBB- on the international scale with kzAAA on the national scale, and A.M. Best B++ (bbb) with a Stable outlook, both confirmed in 2025 — and operates under ARFRF License No. 2.2.12 renewed in December 2022.

The company's product architecture is organized across five categories: (1) accumulation products including Baiterek (guaranteed returns up to 12% with profit participation), Halyk-Qazyna (USD-denominated, 4.2% guaranteed return, 1-20 year terms), Bilim-Life (children's education savings with 5-7% government bonus), plus Bolashak-Life, Life-Invest+, and Life-Persona; (2) protection products such as Amulet-Life, Life-Qorgau, and child cover Balam; (3) health products led by Umit-Life critical-illness cover; (4) pension solutions including a pension annuity with 8% annual indexation and Life-Renta+; and (5) business offerings such as mandatory Life-Еңбек accident insurance (JOMS, governed by Kazakhstan Law 273-V), employer liability annuity, group term life, and group endowment insurance.

Halyk Life distributes through a 20-city branch network plus 8 regional offices, a commissioned insurance agent channel with structured career tiers (trainee, agent, senior agent, team leader), a 7123 call center, and digital self-service via website, mobile app (iOS/Android), client portal, agent portal, and online payment system. All policies are protected by the Insurance Payment Guarantee Fund (joined October 2018). The revenue model is primarily recurring premiums (one-time, monthly, quarterly, semi-annual, and annual cadences depending on the product), supplemented by one-time employer liability annuity premiums.

Name

Halyk Life

Legal name

«Халық-Life» АҚ

Website

https://halyklife.kz

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Halyk Life is a Kazakhstan life insurance company wholly owned by Halyk Bank, offering savings, protection, health, pension, and business insurance products to more than 800,000 individual and corporate customers across 20 cities through branches, agents, and digital channels.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114), Finance and Insurance (52)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Retirement Benefits & Social Security/Medicare Planning (FSAEABAI), Level Term Life Insurance (FSAIAAAA), Basic Group Term Life (Employer-Paid) (FSAIADAA)

Keywords

• Life insurance products
• Savings insurance programs
• Pension annuity services
• Mandatory employer insurance
• Group life insurance

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices20 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Individual Life Insurance Premiums: Revenue from individual customers purchasing life insurance products including savings (accumulation), protection, health, pension, and travel insurance. Products include Bilim-Life, Baiterek, Halyk-Qazyna, Bolashak-Life, Life-Invest+, Life-Persona, Amulet-Life, Umit-Life, Pension Annuity, and Life-Doroga. Premiums are collected as one-time or recurring payments (monthly, quarterly, semi-annually, annually) depending on the product.
2. Compulsory Employer Insurance (JOMS) Premiums: Mandatory accident insurance for employees (accident at work) for all employers as required by Kazakhstan Law No. 273-V. Premiums are calculated based on the number of employees, industry risk class, and the payroll fund. Premiums can be paid as a one-time payment or in installments.
3. Group Life Insurance (Term and Endowment) Premiums: Revenue from employers purchasing group term life insurance and endowment insurance for employees. Includes group term insurance (minimum 10 employees) and group endowment insurance (for key employee retention). Premiums can be paid monthly, quarterly, semi-annually, annually, or as a lump sum.
4. Employer Liability Annuity Premiums: One-time premium payments from employers transferring long-term liability for workplace accident/injury payments to the insurance company. Covers lifetime annuity payments to injured employees or families of deceased employees.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Halyk Life is a Kazakhstan-based life insurance company offering a diversified portfolio of individual and corporate life insurance products across five categories: savings/accumulation programs (Baiterek, Bilim-Life, Halyk-Qazyna, Life-Invest+), protection products (Amulet-Life, Life-Qorgau, Balam), health insurance (Umit-Life), pension annuities, travel insurance, and mandatory employer accident insurance (Life-Eñbek / JOMS under Kazakhstan Law 273-V). The company distributes through 20+ branches, an agent network, digital channels (mobile app, online portal), and a call center across Kazakhstan.

Product overview

Halyk Life operates as a comprehensive life insurance company offering a diversified portfolio of products organized across five main categories: (1) Savings programs including «Бәйтерек» (guaranteed returns up to 12%), «Халық-Қазына» (USD savings at 4.2%), «Bilim-Life» (education savings with government bonuses), and investment-focused products like «Life-Инвест+» and «Life-Персона»; (2) Protection products including «Амулет-Life», «Life-Қорғау» (accident insurance), and children's coverage under «Балам»; (3) Health insurance through «Үміт-Life» for critical illness; (4) Pension solutions including «Зейнетақы аннуитеті» (annuity with 8% annual indexation) and «Life-Рента+»; (5) Business offerings including mandatory «Life-Еңбек» (workers accident insurance), employer liability annuity, group term life, and group endowment insurance with profit participation. The architecture is a platform-plus-products model serving both individual retail customers and corporate clients through branches across 20+ cities in Kazakhstan.

Differentiator

Problem solved

Functional benefit

Products and services

• Pension Annuity (Зейнетақы аннуитеті / Зейнетақы аннуитеті)

Quantifiable outcome

• Bilim-Life product example: monthly savings of 25,000 KZT over 15 years yields 5.8M KZT payout (sample illustration)
• +3 more outcomes

Named customers1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Gen RecoreStrategic or Co-development PartnerGen Re is the company's reinsurance partner for life and health reinsurance. It is one of the world's leading life and health reinsurers, part of Berkshire Hathaway group, with 37+ office locations globally. It provides actuarial expertise, product development support, and financial protection for large or mass payout events. Ratings: A.M. Best A++, Moody's Aa1, S&P AA+.
• Bereke Bank JSC (Береке Банк АҚ)minorChannel Partner/ Reseller/ DistributorBereke Bank is listed as a partner bank. A joint promotion in February 2026 offered 5% cashback for online insurance payments made through Bereke Bank.
• Auletty LLP (Әулетті ЖШС)minorChannel Partner/ Reseller/ DistributorAuletty LLP is listed as an insurance agent of Halyk Life, selling Halyk Life insurance products to clients.
• S&P Global RatingsminorOthersInternational rating agency that assigns Halyk Life BBB- (kzAAA) financial stability rating with Stable outlook, confirmed in 2025.
• A.M. BestminorOthersInternational rating agency that assigned Halyk Life B++ (bbb) financial stability rating, the highest among Kazakhstan life insurance companies, confirmed in 2025.
• Insurance Payment Guarantee Fund (Сақтандыру төлемдеріне кепілдік беру қоры АҚ)coreOthersThe Insurance Payment Guarantee Fund provides government-backed guarantee for all Halyk Life policyholders. If the company is compulsorily liquidated, the Fund ensures guaranteed insurance payments to beneficiaries. Halyk Life joined the Fund on October 8, 2018. Supplementary agreements signed in 2018, 2021, and 2024.
• National Chamber of Entrepreneurs of Kazakhstan Atameken (ҚР Ұлттық кәсіпкерлер палатасы Атамекен)minorOthersHalyk Life is a member of the National Chamber of Entrepreneurs of Kazakhstan Atameken, which represents business interests across Kazakhstan.
• Association of Financiers of Kazakhstan (Қазақстан қаржыгерлерінің қауымдастығы ЗТБ)minorOthersHalyk Life is a member of the Association of Financiers of Kazakhstan (AFK), the professional association of financial institutions in Kazakhstan.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Allianz Life: Large global life insurance player offering savings, protection, and annuity products. Provides a relevant incumbent benchmark for Halyk Life's diversified life portfolio and bancassurance distribution.
• MetLife: Global life insurance incumbent with broad product capabilities across savings, protection, and retirement. A broad incumbent for benchmarking Halyk Life's product architecture and global best-practice standards.
• Prudential plc: Global life and savings/annuities player with extensive emerging-market operations, comparable to Halyk Life on long-duration savings, health, and retirement offerings.
• AIG Life & Retirement: Major global life and retirement insurer with strong group life and pension capabilities, comparable to Halyk Life's employer liability annuity and group term products.

Others

• Gen Re (General Reinsurance): Halyk Life's named reinsurance partner (Gen Re / Berkshire Hathaway). Comparable as an ecosystem participant enabling the company's underwriting capacity and product capabilities.
• Kazakhstan Halyk Bank: 100% parent shareholder of Halyk Life and primary distribution/bancassurance partner. Adjacent as the parent ecosystem that supplies customers, brand trust, and capital to Halyk Life.

Direct peers

• Eurasia Insurance Company: Kazakhstan-based multi-line insurer with a growing life and savings business, offering similar accumulation and protection products. Direct domestic competitor for individual and group life share.
• Freedom Life Insurance: One of the larger Kazakhstan life insurers competing head-to-head in individual and corporate life, savings, and pension products. Directly comparable to Halyk Life by product mix and Central Asian distribution footprint.
• Standard Life Kazakhstan: Kazakhstan-based life insurance carrier with similar individual and group life and savings offerings. Direct domestic competitor for both retail customers and corporate group policies.
• Kompanion Insurance (Kazakhstan branch): Insurance operator in Kazakhstan with a life and savings product line, competing for the same retail and SME cohort. Closely comparable to Halyk Life's individual savings and protection segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/halyk-life-subsidiary-insurance-company-of-halyk-bank-of-kazakhstan-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Halyk Life