OREANDA-NEWS. November 08, 2011. Kazkommertsbank (the "Bank"), one of the largest banks in Kazakhstan and Central Asia, announces today that it has increased the chartered capital of JSC "Life insurance company "Kazkommerts Life", as part of its commitment of providing capital to its subsidiaries, reported the press-centre of KASE.

On 1 November 2011 Kazkommertsbank purchased 100,000 newly issued shares in Kazkommerts Life for the price of KZT1,000 per share. As a result, the chartered capital of Kazkommerts Life increased by KZT100 million to KZT1,690 million. Kazkommertsbank continues to own 100% of the company.

The capital injection was made in order to strengthen capital position of the subsidiary for further asset growth.

JSC "Kazkommerts Life" is one of the top three life insurance companies in Kazakhstan.