Life insurance with a Fitch rating and international reinsurance
Life Insurance Company Standard Life JSC
Standard Life is a Kazakhstani life insurance company headquartered in Almaty, with a history of almost twenty years and an extensive 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 currently has more than 51,000 active customers.
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 prominent companies in the life insurance segment: according to its 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 is a member of the Council of Representatives of the Office of the Insurance Ombudsman, a member of the Association of Financiers of Kazakhstan, and a participant in the Unified Insurance Database and the insurance payment guarantee system (participation agreement No. 46 with the Insurance Payments Guarantee Fund, concluded in September 2018).
| Full name | Life Insurance Company Standard Life JSC |
|---|---|
| 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 KASE official list |
| Customers | more than 51,000 active customers |
| Network | 25 regional units and an agent network across Kazakhstan |
| Head office | Almaty |
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 customer, 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 for protecting the interests of policyholders.
Insurance products
The company's product line on its website is divided into four areas: "Life and Health", "Savings", "Pension" and "For Employers". Behind them are solutions that are classic for life insurance:
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 steadily build up capital by a certain date while protecting the family.
Pension
A pension annuity under the 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 insurance of employees against accidents.
Service and online features
Standard Life provides customers with a personal account for managing contracts, online calculators for preliminary estimates and a customer support section containing answers to frequently asked questions, the procedure for terminating contracts, sample application forms and insurance rules. Information about your contract and insured events can be checked through the information system of the Unified Insurance Database. The company also maintains an educational section on financial literacy and publishes news, articles and videos.
Important: in savings programmes with profit participation, the amount of additional income is not guaranteed and depends on the results of the insurer's investment activities. 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 the company's office within the time limit specified in the insurance contract.
Fill in the claim form
Use the sample form from the support section of the website; it corresponds to the type of your contract.
Attach documents
Prepare an identity document, the contract, and medical or other documents confirming the circumstances of the event, according to the list in the insurance rules.
Wait for the decision
The company reviews the documents within the time limit set by the rules and, if the event is recognised as insured, transfers the payment to the beneficiary.
Standard Life's strengths
- Fitch ratings of "BB-" and "BBB+(kaz)" with a stable outlook;
- reinsurance with a company rated "AA-";
- public status, with shares on the KASE official list;
- 25 regional units and an agent network;
- a full life insurance line: from risk policies to pension annuities and corporate programmes.
Choose a Standard Life programme at Dynasty
Dynasty will help you choose a Standard Life policy: it will calculate the cost in the online calculator, compare the terms of savings, risk and pension programmes with offers from other companies, and explain the details of the contract. A Dynasty manager will support you through the arrangement and advise you on what to do and which documents to gather when an insured event occurs.
This information is for reference only and is based on information from the company's official website. The exact terms are determined by the contract and the insurance rules.