Life insurance with a Fitch rating and international reinsurance
JSC Life Insurance Company “Standard Life”
Standard Life is a Kazakhstani life insurance company headquartered in Almaty, with a history of almost twenty years and a wide regional network. The company specialises in term, endowment and annuity life insurance, works with individuals and employers, and its shares are included in the official list of the Kazakhstan Stock Exchange. According to the company, it now has more than 51,000 active clients.
Company history
The company was registered in September 2007 under the name “Alliance Life Insurance”. In 2014 it changed its name to Grandes, and in 2016 it received its current name — Standard Life. Over these years the insurer has grown from a small market participant into one of the notable companies in the life insurance segment: according to the official website, in 2019 Standard Life was among the top three leaders of the life insurance market, and in 2020, despite the pandemic, it increased its profit by about 20%.
The company’s management team has more than 15 years of experience in the industry. Standard Life sits on the Council of Representatives of the Insurance Ombudsman’s Office, is a member of the Association of Financiers of Kazakhstan, and a participant in the Unified Insurance Database and the insurance payments guarantee system (participation agreement with the Insurance Payments Guarantee Fund No. 46, concluded in September 2018).
| Full name | JSC Life Insurance Company “Standard Life” |
|---|---|
| ARDFM licence | No. 2.2.18 dated 05.09.2023 |
| BIN | 070940015052 |
| Chairman of the Management Board | Galym Tashmukhanbetovich Amerkhodzhayev |
| Chairman of the Board of Directors | Maksat Kabykenovich Alzhanov |
| Major shareholders | V. S. Li, T. K. Alzhanov, M. K. Alzhanov, Zh. K. Alzhanov |
| Branches | 18 |
| Year of registration | 2007 (former names — “Alliance Life Insurance”, Grandes) |
| Rating | Fitch Ratings: “BB-” on the international scale, “BBB+(kaz)” on the national scale, outlook “Stable” (upgraded in 2025) |
| Reinsurance | International reinsurer Hannover Re, rated “AA-” by S&P |
| Stock exchange | Shares included in the official KASE list |
| Clients | more than 51,000 active clients |
| Network | 18 branches and an agent network across Kazakhstan |
| Head office | Almaty |
Regulation and supervision
Standard Life 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. 2.2.18 dated 05.09.2023. 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 company’s management board is headed by Galym Amerkhodzhayev and the board of directors by Maksat Alzhanov. The company’s major shareholders are V. S. Li, T. K. Alzhanov, M. K. Alzhanov and Zh. K. Alzhanov. The head office is in Almaty, and 18 branches operate in Almaty, Astana, Shymkent, Karaganda, Ust-Kamenogorsk, Uralsk, Taldykorgan, Petropavlovsk, Kostanay, Kyzylorda, Aktobe, Atyrau, Taraz, Pavlodar, Semey, Aktau, Kokshetau and Turkistan.
Financial strength
In 2025 Fitch Ratings upgraded Standard Life’s ratings: the international rating from “B+” to “BB-” and the national rating from “BBB(kaz)” to “BBB+(kaz)”, with a stable outlook. For the client, this is independent confirmation that the company is able to meet its long-term obligations. Reinsurance provides additional protection: the company’s large risks are ceded to one of the world leaders of the reinsurance market. In addition, as a participant in the Insurance Payments Guarantee Fund, Standard Life is part of the state system protecting policyholders’ interests.
Insurance products
The company’s range on its website is divided into four areas — “Life and Health”, “Savings”, “Pension” and “For Employers”. Behind them are classic life insurance solutions:
Life and Health
Non-savings programmes that provide financial support to the family in the event of death, disability or other serious events. This also includes life and health insurance for borrowers and accident protection for borrowers.
Savings
Voluntary endowment life insurance with participation in the insurer’s profit, and savings programmes for the benefit of a child — a way to build capital steadily by a set date while protecting the family.
Pension
A pension annuity under pension legislation: savings from the Unified Accumulative Pension Fund (UAPF) are transferred to the insurance company and converted into regular lifelong payments.
For Employers
Group term and endowment life insurance for employees as part of a benefits package, as well as annuity insurance under the law on compulsory employee accident insurance.
Service and online features
Standard Life gives clients a personal account for managing contracts, online calculators for preliminary estimates and a customer support section: it contains answers to frequently asked questions, the procedure for terminating contracts, sample applications and insurance rules. Details of your contract and insured events can be checked through the information system of the Unified Insurance Database. The company also runs an educational financial literacy section and publishes news, articles and videos.
Important: in endowment programmes with profit participation, the amount of additional income is not guaranteed and depends on the results of the insurer’s investment activity. The guaranteed part of the payments is determined by the contract.
How to report an insured event
The company’s website has an “Insured event” section with separate instructions for voluntary insurance and for compulsory employee insurance. The general sequence of actions is as follows:
Notify the company
Report the event via the contact centre or a company office within the period specified in the insurance contract.
Fill in the application
Use the sample application from the support section of the website — it matches the type of your contract.
Attach documents
Prepare an identity document, the contract, and medical or other documents confirming the circumstances of the event, as listed in the insurance rules.
Wait for the decision
The company reviews the set of documents within the period set by the rules and, if the case is recognised as insured, pays the benefit to the recipient.
Standard Life’s strengths
- Fitch ratings of “BB-” and “BBB+(kaz)” with a stable outlook;
- reinsurance with a company rated “AA-”;
- public status — shares in the official KASE list;
- 18 branches across the country and an agent network;
- a full life insurance range: from risk policies to pension annuities and corporate programmes.