State-backed reliability in life insurance
JSC Life Insurance Company “State Annuity Company” (SAC)
The State Annuity Company is a life insurer all of whose shares are owned by the state, represented by the Government of the Republic of Kazakhstan. For more than twenty years it has been paying pension annuities, protecting workers against occupational accidents and offering savings programmes with life cover. For the client, this above all means long-term stability: life insurance contracts are concluded for years, and pension payments are made for life, so the insurer’s reliability is decisive here.
Company history and status
The company was established by a resolution of the Government of the Republic of Kazakhstan in December 2004 as an organisation with 100% state participation in its charter capital. SAC obtained its insurance licence in the summer of 2005 and has since developed steadily in the “life insurance” line. The head office is in Astana, and branches operate in the regions of the country: a branch opened in Abai Region in 2025, and in early 2026 the company streamlined its network by closing regional offices in Zhezkazgan and Turkistan and changing the address of the Almaty branch.
In spring 2026 the regulator — the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market — also granted the company a reinsurance licence. SAC can thus not only accept its clients’ risks but also take part in reinsuring the risks of other life insurers.
The sole shareholder is the Government of the Republic of Kazakhstan, represented by the Committee for State Property and Privatisation of the Ministry of Finance. The rights of ownership and use of the state shareholding have been transferred to the Ministry of Labour and Social Protection of the Population. The register of securities holders is maintained by the Central Securities Depository. The company has been a member of the Association of Financiers of Kazakhstan since 2006 and a participant in the Insurance Payments Guarantee Fund system since 2018.
| Full name | JSC Life Insurance Company “State Annuity Company” |
|---|---|
| ARDFM licence | No. 2.2.20 dated 17.04.2026 |
| BIN | 050640002859 |
| Chairperson of the Management Board | Ayazhan Toktarovna Bekseitova (Acting Chairperson of the Management Board) |
| Chairman of the Board of Directors | Yerdan Yerlanovich Bekhozhin |
| Major shareholders | Government of the Republic of Kazakhstan |
| Branches | 15 |
| Head office | Astana |
| Founded | 2004, by resolution of the Government of Kazakhstan |
| Activities | Life insurance (since 2005), reinsurance (since April 2026) |
| Assets | approximately KZT 41.1 billion (as of 01.07.2026) |
| Equity | approximately KZT 12.2 billion (as of 01.07.2026) |
| Guarantee | Participant in the Insurance Payments Guarantee Fund |
Regulation and supervision
SAC is licensed and supervised by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM). The current licence is No. 2.2.20 dated 17.04.2026. Information on the company’s management, major shareholders and branches is published by the regulator in the list of financial organisations.
According to ARDFM, the duties of the chairperson of the management board are performed by Ayazhan Bekseitova, and the board of directors is chaired by independent director Yerdan Bekhozhin. The company’s major shareholder is the Government of the Republic of Kazakhstan. The head office is in Astana, and 15 branches operate in Almaty, Karaganda, Aktau, Uralsk, Ust-Kamenogorsk, Aktobe, Atyrau, Shymkent, Kokshetau, Pavlodar, Kostanay, Taraz, Kyzylorda, Petropavlovsk and Semey.
Products for individuals
SAC’s range for individuals is built around three goals: to provide a lifelong income in retirement, to build savings and to protect the family against unforeseen events.
“Silver Age” pension annuity
A contract under which pension savings from the UAPF are transferred to the insurance company and the client receives regular payments for life. Deferred and joint annuity options are also available.
“Demeu” endowment insurance
A savings programme in US dollars with guaranteed returns and life cover for the entire term of the contract. A separate Demeu mobile app has been launched for the programme, and the trademark was registered in 2026.
“Khranitel” (Guardian) term insurance
Life cover for a chosen term: if an insured event occurs, the family receives a payment that helps maintain their usual standard of living.
Accident protection
The “Premium” accident programme and the “Life Without Worries” product for borrowers — a financial cushion in the event of injury, disability or death of the insured.
Solutions for employers and business
For organisations, SAC offers compulsory and voluntary staff protection programmes. The company regularly takes part in round tables and meetings on occupational safety and employee protection.
- Compulsory employee accident insurance — compulsory insurance of employees against accidents in the course of their duties, as required by law;
- “5-29” — voluntary accident insurance for employees on top of the compulsory cover;
- “GUARANTEE” — term insurance of borrowers’ life and working capacity;
- “Khranitel” for corporate clients — group life protection for employees;
- “Demeu Business” — a corporate savings programme that can be used as part of a benefits package.
Online services
SAC is moving its services online: a policy can be issued through the company’s online platform, the website offers calculators for preliminary estimates (including an extended Demeu calculator and calculators for compulsory employee accident insurance and the pension annuity), and clients’ questions are answered by the virtual assistant Amina. The support section contains information on what to do when an insured event occurs, contract servicing, frequently asked questions, the schedule for receiving citizens, and a form for complaints and suggestions. A special version of the website is available for visually impaired people.
Important: the terms of a pension annuity depend on age, the amount of savings in the UAPF and the chosen guaranteed period. In 2026 the company informed clients about changes to the terms of the pension annuity, so it is worth obtaining an up-to-date calculation before transferring your savings.
How to report an insured event
The settlement procedure is determined by the contract and the insurance rules. In general terms it looks like this:
Report the event
Notify the company of what happened within the period set by the contract — through the contact centre, a branch or the “When an insured event occurs” section of the website.
Gather documents
Prepare an ID, the contract, medical documents or an occupational accident report (for compulsory employee accident insurance) and other confirmation of the circumstances.
Submit the application
The application for an insurance payment is submitted to a company branch together with the set of documents; if necessary, the insurer will request additional information.
Receive the decision and payment
After review, the company makes a decision and transfers the payment to the recipient. For annuities, payments are made regularly according to the contract schedule.
Why clients choose SAC
- 100% state participation and more than 20 years on the market;
- specialisation in annuities and long-term life insurance;
- participation in the insurance payments guarantee system;
- regional branches and well-developed online channels;
- a licence covering not only insurance but also reinsurance.