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Kazakh brokerage company Fincraft buys local insurer Amanat

Kazakhstan-based Fincraft Investment House Joint Stock Co. agreed to acquire local insurer Joint Stock Company Amanat from businessman Dinmukhamet Idrisov, who is the sole owner of the company.

The transaction was approved by the Kazakh central bank in December and will be finalized soon. Rashid Amirov, who heads the board of directors at Fincraft, was elected chairman of the board of directors at Amanat, the Kazakh insurer said in a Jan. 6 filing. The financial details of the deal were not disclosed.

Fincraft Investment House is controlled by Kazakh entrepreneur Kenges Rakishev and is one of the largest investment and brokerage companies in Kazakhstan. Amanat is a universal insurance company and one of top 10 insurers in Kazakhstan in the voluntary motor insurance, property and civil liability insurance segments.