A license granting the right to engage in insurance activities in the territory of the Republic of Kazakhstan may be issued only to a legal entity, since individuals are not entitled to engage in insurance activities.
Insurance activities subject to licensing are the activities of insurance organizations and mutual insurance societies (insurers) related to the formation of special monetary funds (insurance reserves) necessary for upcoming insurance payments.
Licenses are issued for the implementation of voluntary and mandatory personal insurance, property insurance and liability insurance. If the insurer's business is exclusively in providing insurance, then a license is issued for insurance. In this case, the licenses indicate specific types of insurance that the insurer is entitled to implement.