Active economic support is taking various forms across different regions, highlighting the importance of targeted interventions to address community needs. From increasing pension insurance policies to innovative support systems for gardeners, economic strategies are being adapted to the local contexts.
One notable success story is the booming life insurance market in Kazakhstan, where the analytical center of the AFK recently reported dynamic growth trends. The life insurance sector showed leading performance with key indicators experiencing unprecedented increases. By the end of 2024, life insurance company assets soared to 1.6 trillion tenge, marking a 50% increase compared to the previous year. This demonstrated the industry's ability to attract "long-term" investments and significantly contribute to economic stability.
The report noted, ‘Insurance companies are gradually playing an increasingly significant role in shaping the "long" money supply within the economy,’ underscoring the sector's importance. Insurance policies are not only securing individual futures but also supporting the financial market’s liquidity and overall health.
For the first day of January 2025, it was revealed 86% of these assets were invested in securities, reflecting significant growth within the stock market and indicating prudent investment practices. The vast majority of asset growth was attributed to the rise of voluntary personal insurance products, which saw premiums nearly double (+93%, or 471 billion tenge), driven largely by pension annuity insurance, which skyrocketed by 230% to total 322 billion tenge.
Experts believe this wave of demand stems from increasing public awareness of financial planning and security. The financial communication around pension annuity insurance has been pivotal, with customers recognizing the significance of securing their future through such financial instruments.
Meanwhile, the Republic of Bashkortostan is taking significant steps to improve the support system for gardeners and horticultural workers, with the regional leader Rадий Хабиров emphasizing the need for enhanced state support for the region's 1,500 horticultural societies. Hабиров reported, ‘While our support system for gardeners is among the best in the country, we must continue to improve it,’ showcasing the commitment to refine and expand assistance for these communities.
Over the past four years, Bashkortostan has increased funding for gardening support from five to fourteen different initiatives, channeling 576 million rubles since 2022 to improve the infrastructure of 473 gardening societies, which accommodate nearly 100,000 gardeners. These investments significantly boost the living conditions for many residents who rely on these spaces for both leisure and sustenance.
Despite the region’s advanced support systems, challenges remain. Many surrounding infrastructures are aging and deteriorated, with Hабиров noting the need for newer roads and improved utilities to support these communities effectively. This pressing need has led to plans for social gasification of gardening societies, aiming to bring natural gas to nearly 1,000 plots by 2025, with funding allocated for these endeavors amounting to 220 million rubles this year alone.
One of the highlights of 2025 is the planned launch of gas pipelines at one of Ufa’s gardening communities, symbolizing tangible progress and boosting community morale. Hабиров is steadfastly optimistic, asserting, ‘Thanks to systematic efforts, we will witness significant changes in our gardening communities, with proper infrastructure and amenities becoming commonplace.’
Both regions exemplify how active economic support can transform local communities, ensuring the coverage of basic needs and paving the way for sustainable growth. These investments not only secure the future of individuals but also signify broader economic strengthening, showing a pathway for other regions to follow.
With Kazakhstan’s insurance sector receiving significant boosts through long-term planning and government support evident across Bashkortostan, the narrative of proactive economic assistance is becoming increasingly prevalent. This dual approach, with life insurance and horticultural support systems, emphasizes the multifaceted strategies needed to stimulate the economy and provide livelihoods for countless individuals.
Conclusively, as these regions continue to innovate and adapt their economic support systems, the power of focused initiatives to revitalize local economies emerges as clear evidence of successful governmental policy. With continued investment and innovation, the future looks brighter for both the insurance sector and agricultural communities, marking the commencement of improved living standards across these regions.