BELARUS, 1Q2018: GWP increase by 18% y-o-y

In 1Q2018 Belarusian insurers generated GWP of direct insurance and co-insurance in the amount of BYN 299.6 million (~EUR 125 million), which is 18% more than a year before, - informed the Ministry of Finance of the Republic.

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)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

BELARUS: 5 months' result demonstrated 16.6% market growth

Belarusian insurance market bottom-lined 5 months' result show this year GWP amounted to BYN 508.8 million* and the growth rate, compared to the same period last year, amounted to 16.6%, informed the Ministry of Finance of the Republic on its official website.

2018-07-09

BELARUS: Belarusian insurance market is expecting liberalization and changes

The planned changes in the local insurance sector will affect life insurance. Besides, the market is expecting liberalization, correction of working conditions and development of online insurance, said the Head of the insurance supervisory main department at the Ministry of Finance of Belarus - Sergey OSENKO during his interview for BELTA (Belarusian information agency).

2018-06-14

Belarus: 18% GWP nominal y-o-y growth in January 2018

Belarusian market started 2018 year with January GWP in the amount of BYN 101.5 million (EUR 41.4 million), which is by 18.4% more, in nominal terms, than in January of 2017, as informed by the Ministry of Finance of the Republic of Belarus.

2018-03-08

ON THE MOVE

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all