АО "КСЖ "ГАК"

Sustainable Development

JSC "Life Insurance Company "State Annuity Company" is aware of the importance of its impact on the economy, ecology and society, striving for long-term value growth, ensures its sustainable development in the long term, maintaining a balance of interests of stakeholders.

The Company's activities in the field of sustainable development are carried out in accordance with the principles of openness, accountability, transparency, ethical behavior, respect for the interests of stakeholders, legality, observance of human rights, intolerance to corruption, and inadmissibility of conflicts of interest.

The sustainable development policy is based on the principles of:

environmental responsibility;

social performance;

economic efficiency.

The mission of the Company

To implement the best solutions and standards for exemplary and reliable practices aimed at improving the social and financial protection of Kazakhstanis.

The Company's objectives are:

• to ensure the greatest coverage of employees by the system of compulsory employee accident insurance in the performance of their work (official) duties and insured in various regions of the country by annuity insurance;

• provision of consulting services on insurance issues;

• ensuring the high quality of services provided;

• Assistance to government initiatives in the field of insurance market development.

Company Goals:

• the appearance of various annuity products on the country's insurance market;

• ensuring the realization of citizens' rights to pension provision from insurance organizations on the basis of pension annuity agreements in accordance with the Law of the Republic of Kazakhstan "On Pension Provision in the Republic of Kazakhstan";

• assistance in the implementation of the Law of the Republic of Kazakhstan "On compulsory insurance of an employee against accidents in the performance of his/her labor (official) duties";

Company History

2004

The history of the company began with the Decree of the Government of the Republic of Kazakhstan "On the establishment of JSC "Life Insurance Company "State Annuity Company" (hereinafter GAC) with one hundred percent state participation in the authorized capital.

2005

June.The company has received a license issued by the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations (AFS). Since that moment, our Company has been active in the life insurance and annuity insurance market. New insurance products were developed and coordinated with the authorized body, structural divisions were formed, and managers were appointed.

November. The company has concluded a life reinsurance contract with the Munich Reinsurance Company (Munich Re), the leader of the global reinsurance market.

2006

November. SAC became a full member of the Association of Legal Entities "Association of Financiers of Kazakhstan"

2007

June.The company has implemented quality management systems according to ISO standards 9001:2000..

2008

December. SAC has accepted the insurance portfolio of JSC "KSJ "Currency Transit Life", in connection with the bankruptcy of the latter.

June. Opening of branches in all regions of Kazakhstan.

May. The Russian Register Certification Association conducted a regular inspection of the quality management system of the SAC and confirmed the development in accordance with the principle of continuous improvement and compliance with the requirements of ISO 9001:2000.

2009

December. Fitch Ratings has assigned the insurer's financial stability rating ("RFI") to the GAC on an international scale at the "BB" level and the RFI on a national scale at the "A(kaz)" level. The forecast for both ratings is "Stable".

May. KPMG conducted an independent audit and confirmed the reliability of the financial data presented in the financial statements and their compliance with IFRS, as well as the company's profit in the amount of KZT 23.5 million.

September. The First Conference on Life Insurance in Kazakhstan: Problems and Prospects, organized by JSC KSZH GAK, was held at the Intercontinental Almaty Ankara Hotel.

2010

A license for the right to carry out insurance activities in the OSNS industry.

2011

July. GAK has exceeded the threshold of 10 billion tenge in terms of assets. Replenishment of the authorized capital to KZT 3,560 million.

2012

JSC "KSZH "GAK" has concluded an obligatory reinsurance agreement OSNS with Hannover Ruckversicherung AG.

2013

JSC KSJ GAK has rebranded and introduced a new logo with corporate colors: dark green, red, white.

2016

Payment of dividends 1,293.3 million tenge at the end of 2015.

2017

JSC "KSJ "GAK" has concluded an obligatory life reinsurance agreement with Hannover Ruckversicherung AG.

2018

December. At a meeting of the State Commission for the Modernization of the Economy of the Republic of Kazakhstan, a decision was made to exclude the SAC from the list of privatized facilities.

April. The sole shareholder of JSC KSZH GAK decided to pay dividends for 2017 in favor of the republican budget of more than 500 million tenge.

May. In order to assist each other in the implementation of insurance products, JSC KSJ GAK and JSC IC NOMAD Insurance have signed a memorandum of cooperation.

2019

Октябрь. JSC KSZH GAK has rebranded and introduced a new logo with corporate colors: blue and light blue.

May. The sole shareholder of JSC KSZH GAK decided to pay dividends for 2018 in favor of the republican budget of more than 346 million tenge.

2020

June . JSC KSZH GAK celebrated the 15th anniversary of the company.

May. The sole shareholder of JSC KSZH GAK has decided to pay 100% dividends In 2019, more than 817 million tenge was allocated to the republican budget.

Mukazhanov Kuanysh Amangeldievich

Chairman of the Management Board

Zholdybekov Kuat Tolegenovich

Deputy Chairman of the Management Board, Member of the Management Board

Bekseitova Ayazhan Toktarovna

Deputy Chairman of the Management Board, Member of the Management Board

Zhaksybaev Rauan Omirbekovich

Deputy Chairman of the Management Board, Member of the Management Board

Kenenbayeva Ayman Shakenovna

Managing Director, Member of the Management Board

Aubakirova Aimara Amanzholovna

Department Director - Chief Accountant

Licenses and certificates

Information about corporate events

Decisions adopted by the General Meeting of Shareholders and the Board of Directors on the list of issues, information on which, in accordance with the company's internal documents, should be brought to the attention of shareholders and investors

Information on the execution by the joint-stock company of major transactions and transactions in which the company has an interest

Corporate Secretary

Corporate Secretary – an employee of the Company who is not a member of the Board of Directors and (or) the Management Board of the Company, who is appointed by the Board of Directors of the Company and is accountable to the Board of Directors of the Company, and, within the framework of his/her activities, controls the preparation and holding of meetings of the Board of Directors of the Company, ensures the formation of materials on agenda items for consideration by the Sole Shareholder and materials for the meeting of the Board of Directors of the Company, and monitors the provision of access to them.

The main tasks of the Corporate Secretary in the framework of the activities are:

1) ensuring interaction between the Sole Shareholder, the Board of Directors, the Management Board and other bodies, structural divisions of the Company;

2) organizing and supporting the activities of the Board of Directors of the Company and its Committees;

3) monitoring the implementation and compliance with the principles and provisions of the Code of Corporate Governance of the Company;

4) ensuring the provision of information on corporate events in accordance with the requirements of the legislation;

5) within the limits of their competence, providing information to members of the Board of Directors with data on the state of the organization of the activities of the Company, its bodies, officials and structural divisions.

By the decision of the Board of Directors of the Company dated May 31, 2019, to the position Toktarova was appointed Corporate Secretary of the Company from June 3, 2019 Saule Zhumagalievna

Contact information: 010000, Republic of Kazakhstan, Astana, st. Mangilik, 30, office 306

Phone: s.toktarova@gak.kz

Email: +7 (7172) 916-333 (ext. 1078)

Advisory bodies

Information on the activities of commissions in which the owner of the information is a working body

In order to form adequate risk management and internal control systems, the following collegial advisory bodies are created in the Organization:

1. Underwriting Council;
2. Asset and Liability Management Council.

The composition of the said councils includes employees of interested structural divisions, executives, which is approved by the Board of Directors of the Organization. The decisions of the said councils are taken by a simple majority of votes of members and are drawn up in writing. The decisions of the said councils are recorded with a detailed reflection of the decision-making process and the attachment of documents on the basis of which the decision was made, indicating:

list and detailed description of the issues under consideration;
list of documents submitted to the council for decision-making;
results of voting on each issue under consideration;
opinions of members with justification, including in the event of their disagreement with the decision taken and the presence of a dissenting opinion.

The minutes are signed by all members of the said councils present at the meeting and are kept in the Organization. The Board of Directors evaluates the work of the said councils and the board on the basis of their annual reports on the results of their work.

Also, the following committees operate on a permanent basis in JSC "KSZh "GAK":

3. Risk Management Committee of the Board of Directors of JSC "KSZh "GAK";
4. The Committee of the Board of Directors of JSC "KSZh "GAK" on strategic planning;
5. The Committee of the Board of Directors of JSC "KSZh "GAK" on personnel, remuneration and social issues;
6. The Audit Committee of the Board of Directors of JSC "KSZh "GAK".

Information on participation in associations (unions)

Since 2007, the Joint Stock Company "Life Insurance Company "State Annuity Company" has been a member of the Association of Financiers of Kazakhstan (AFK).

The Association of Financiers of Kazakhstan (AFK) was established in May 1999 in accordance with the resolution of the 1st Congress of Financiers of Kazakhstan.

Today, the total number of members of the AFC is more than 160 organizations, including banks, insurance organizations and brokers, JSC ENPF, other professional participants in the securities market, leasing companies, microfinance organizations, audit, consulting and scientific and educational organizations.

Adress: 050040, Republic of Kazakhstan, Almaty, st. Baizakova, 280, BC "Almaty Towers"

Telephone: +7 (727) 266-77-77

E-mail: afk@afk.kz

Phone for the media: +7 (727) 266-77-77 вн. 117

E-mail: schikin@afk.kz

Since 2018, JSC Life Insurance Company State Annuity Company has been a member of the Insurance Payments Guarantee Fund (IPGF) and is an active participant in the insurance payment guarantee system.

JSC "Insurance Payments Guarantee Fund" is the only organization of the Republic of Kazakhstan that guarantees the implementation of insurance payments to policyholders (insured beneficiaries) in the event of the forced liquidation of an insurance organization.

Adress: 050000, Republic of Kazakhstan, Almaty, st. Ryskulbekova, 28/7 (residential complex "Bai-Tal")

Telephone: +7 (727) 393 25 70, +7 (727) 393 25 66

E-mail: ipgf@ipgf.kz

18 сентября 2018 года JSC "State Annuity Company" Life Insurance Company joined the Council of Representatives of the Insurance Ombudsman.

Insurance Ombudsman - an individual independent in his/her activities, who regulates relations between participants in the insurance market;

Adress: 050042, Republic of Kazakhstan, Almaty city, Ryskulbekov street 28/7, 2nd floor (in the building of JSC FGSV).

Е-mail: office@omb.kz

Phone fax: +7 (727) 382-41-74, +7 (727) 265 54 70.

Dear clients of JSC "KSZh "GAK"

Welcome to the official page of Compliance Control of JSC "KSZh "GAK".

In order to apply the best practices of corporate governance, our Company has introduced and is implementing a compliance control function, the purpose of which is to ensure that the Company and its employees comply with the legislation of the Republic of Kazakhstan, internal regulatory documents, as well as compliance with high professional and ethical standards.

Combating the legalization (laundering) of proceeds from crime and the financing of terrorism

JSC "KSZh "GAK" is taking a set of measures aimed at organizing an internal control system to combat the legalization (laundering) of proceeds from crime and the financing of terrorism

Please send messages to the hotline email address regarding any instances of corruption and fraud among the Company's officials and staff, or violations of the laws of the Republic of Kazakhstan on their part, including the Company's internal regulatory documents. compliance@gak.kz.

Confidentiality of the request is guaranteed.

Anti-corruption action plan for 2024-2025

Reminder.

Analytical report.

Policy for identifying and resolving conflicts of interest

Report on measures taken to prevent corruption.

Anti-corruption memo.

Internal control rules for the purpose of combating the legalization (laundering) of proceeds from crime.

Rules for conducting anti-corruption monitoring and internal analysis of corruption risks of JSC "KSZh "GAK".

Anti-corruption policy of JSC "KSZh "GAK".

Rules of professional ethics of JSC "KSZh "GAK".

Compliance risk management policy of JSC "KSZh "GAK".

Regulations on the Compliance Controller.

Notification Policy

"Омбудсмен"

Омбудсмен – лицо, назначаемое Советом директоров Общества, роль которого заключается в консультировании обратившихся к нему работников Общества и оказании содействия в разрешении трудовых споров, конфликтов, проблемных вопросов социально-трудового характера, а также в соблюдении принципов деловой этики работниками Общества.

Роль омбудсмена заключается в консультировании обратившихся к нему работников, участников трудовых споров, конфликта и оказании им содействия в выработке взаимоприемлемого, конструктивного и реализуемого решения с учетом соблюдения норм законодательства Республики Казахстан (в том числе, соблюдения конфиденциальности при необходимости), оказании содействия в решении проблемных социально-трудовых вопросов как работников, так и Общества.

Омбудсмен назначается из числа работников Общества решением Совета директоров и подлежит переизбранию каждые 2 (два) года. Совет директоров принимает решение о продлении либо прекращении полномочий Омбудсмена.

Советом директоров Общества от ___ _______ 2024 года принято решение о возложении должностных обязанностей Омбудсмена Общества на _____________ (должность, ФИО).

По вопросам касательно положений Правил профессиональной этики Общества и/или возникшим в ходе работы этическим вопросам, а также по фактам нарушений норм трудового законодательства, просим обращаться к Омбудсмену Общества (по телефону +7 (7172) 916-333 (вн. 1002), а также отправить сообщения на электронную почту «горячей линии» ombudsman@gak.kz. Кроме того, обращения Омбудсмену можно направить на бумажном носителе по адресу: 010000, Республика Казахстан, город Астана, район Есиль, пр.Мәңгілік Ел, зд.30, каб. 306 (с пометкой на конверте (пакете) «Омбудсмену АО «КСЖ «ГАК»).

Конфиденциальность обращения гарантируется.

Shareholder and Board of Directors

The sole shareholder of the company is the state represented by the Government of the Republic of Kazakhstan.

In accordance with the Resolution of the Government of the Republic of Kazakhstan dated September 21, 2005 No. 937, the rights of ownership and use of the state block of shares were transferred to the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan.

The Company's Board of Directors includes representatives of the Ministry of Labor and Social Protection of the Republic of Kazakhstan, as well as independent directors elected to the Board of Directors in accordance with the requirements of the current legislation of the Republic of Kazakhstan.

By Order of the Minister of Labor and Social Protection of the Population No. 113 dated April 25, 2024, changes were made to the composition of the Board of Directors of the Company, namely:

On April 01, 2024, the powers of a member of the Board of Directors, independent director Dosmukametov Kanat Mukhametkarimovich, were prematurely terminated, and a member of the Board of Directors, independent director Koshchanova Zhanarkul Toguzbaevna, was elected to the Board of Directors.

Thus, the current composition of the SD:

Yertaev Askarbek Maratovich - Chairman of the Board of Directors, Vice Minister of Labor and Social Protection of the Population of the Republic of Kazakhstan;

Ivanova Anna Olegovna – Member of the Board of Directors, Head of the Department of State Monitoring of Property, Trust Management and Concession of the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan;
Dilimbetova Gulnara Amankulovna – Member of the Board of Directors, Independent Director;
Koschanova Zhanarkul Toguzbaevna – Member of the Board of Directors, independent Director.
Mukazhanov Kuanysh Amangeldievich – Member of the Board of Directors, Chairman of the Management Board.

The Board of Directors is the management body of the Company, which carries out the general management of its activities, with the exception of resolving issues referred by Law and the Articles of Association of the Company to the exclusive competence of the Sole Shareholder.

The purpose of the Board of Directors is to ensure maximum respect for the interests of shareholders and achieve sustainable growth of the Company.