BELARUS, 1Q2018: GWP increase by 18% y-o-y
GWP of voluntary classed amounted to BYN 193.7 million (~EUR 80.6 million), 22.6% more than for the 1st quarter 2017. Compulsory classes saw the growth of 11.4% with GWP of BYN 105.9 million (~EUR 44 million). The share of voluntary insurance in the market portfolio increased from 62.5% to 64.7%.
Paid claims for the 1st quarter also grew by 23.2% to BYN 153.4 million (~EUR 63.8 million). Claims share in total premiums on y-o-y basis jumped from 49% to 51.2% compared to the 1st quarter 2017.
In terms of GWP the market leaders for the 1st quarter are BELGOSSTRAKH, PROMTRANSINVEST, and BELNEFTESTRAKH. In terms of paid claims - BELGOSSTRAKH, BELEXIMGARANT and TASK.
As of the end of March 2018 the Belarusian insurance market is represented by 22 insurance companies.
*EUR 1 = BYN 2.4032 (01.04.2018, National Bank of Belarus)