Kazakhstan Energy Reinsurance Company Moves Incorporation from Bermuda to Astana Financial Services Authority

Posted on 01/21/2020

Astana Financial Services Authority (AFSA) licensed a captive insurer to commence the regulated activities of effecting contracts of insurance and carrying on contracts of insurance. This inaugural event for AFSA came down to the agency issuing a license to Kazakhstan Energy Reinsurance Company Ltd. (KERC). KERC has been operating out of Bermuda since 2004 and transferred its incorporation to Kazakhstan.

The shareholder of KERC is a Cooperative KuzMunaiGaz U.A., which is registered outside of Kazakhstan.

KazMunayGas (KMG) is the state-owned oil and gas company of Kazakhstan.

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