From 16 December 2020, foreign insurance and reinsurance companies are allowed to open their branches in Kazakhstan, subject to compliance with current legislation and certain additional requirements.
"Article 30-1. Opening a branch of a non-resident insurance (reinsurance) company of the Republic of Kazakhstan
1. An insurance (reinsurance) company-non-resident of the Republic of Kazakhstan has the right to apply to the authorized body to obtain permission to open a branch in the territory of the Republic of Kazakhstan, if the following conditions are met:
1) the total assets of the insurance (reinsurance) company-non-resident of the Republic of Kazakhstan must not be less than the amount equivalent to five billion US dollars;
2) the insurance (reinsurance) company-non-resident of the Republic of Kazakhstan has at least ten years of experience in the implementation of insurance (reinsurance) in all industries and classes of insurance;
3) the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan, is a participant in international cooperation in the field of prevention and counteraction to legalization (laundering) of proceeds from crime and financing of terrorism, and also cooperates with the Group for the development of financial measures to combat money laundering (FATF);
4) the existence of an agreement between the authorized body and the financial supervision body of the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan.
The agreement between the authorized body and the financial supervision body of the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan, must contain the procedure for the exchange of confidential information constituting a commercial secret in the securities market, bank secrets, insurance secrets or other secrets protected by law, the procedure cooperation on the opening of a branch of a non-resident insurance (reinsurance) company of the Republic of Kazakhstan, licensing, approval of executives, regulation, control and supervision (including inspections of activities) and termination of the activities of a non-resident insurance (reinsurance) company and its branch, as well as other issues of interaction for the purposes of exercising control and supervisory functions;
5) the presence of a written notification of the financial supervision body of the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan, that he does not object to the opening of a branch of the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan in the territory of the Republic of Kazakhstan, or statements of the body financial supervision of the specified state that such a permit is not required under the legislation of the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan;
6) the presence of a written confirmation of the financial supervision body of the state, the resident of which is the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan, that the insurance (reinsurance) organization-non-resident of the Republic of Kazakhstan has a valid license for the right to carry out insurance (reinsurance) activities.
2. An application for permission to open a branch of a non-resident insurance (reinsurance) company of the Republic of Kazakhstan in Kazakh or Russian is submitted in the form established by the regulatory legal act of the authorized body, with the following documents attached: [...]
3. Refusal to issue a permit to open a branch of an insurance (reinsurance) company-non-resident of the Republic of Kazakhstan is made on any of the following grounds:
1) non-compliance with the requirements specified in paragraph 1 of this article;
2) non-compliance of the submitted documents with the requirements specified in paragraph 2 of this article;
3) non-elimination of the comments of the authorized body on the submitted documents within the time period established by it;
4) non-compliance with the requirements established by subparagraphs 8) and 11) of part one of paragraph 2 of this article;
5) the grounds specified in subparagraphs 4) and 7) of paragraph 1 of paragraph 8 of this Law;
6) inconsistency of the name of the branch of the insurance (reinsurance) company-non-resident of the Republic of Kazakhstan with the requirements of paragraph 7 of Article 23 of this Law;
7) providing the authorized body with inaccurate information regarding the insurance (reinsurance) company-non-resident of the Republic of Kazakhstan. [...]" (Law On insurance activities (No. 126 of 18 December 2000), as amended by Law No. 399-VI of 2.1.2021 (in effect from 16.12.2020), Article 30-1 [google translation])
Law On insurance activities (No. 126 of 18 December 2000), as amended by Law No. 399-VI of 2.1.2021 (in effect from 16.12.2020), Article 30-1 
[<a href="https://adilet.zan.kz/rus/docs/Z000000126_">Law</a>]