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.

In voluntary classes for Jan-May insurers generated BYN 307.1 million (BYN 49.6 more than a year ago). In compulsory classes the local market produced BYN 201.7 million (annual growth amounted to BYN 23 million). The share of voluntary classed in total premiums for 5 months amounted to 60.4% (vs 59% a year ago).

In Jan-May local insurers paid BYN 258.8 million of claims (annual growth - BYN 47.8 million), claims/premiums ratio during the period in question reached 50.9% (vs 48.4% a year ago).

BELGOSSTRAKH is the leader of TOP-5 insurers in terms of GWP with BYN 238.5 million of premiums, followed by PROMTRANSINVEST (BYN 49.6 million), BELNEFTESTRAKH (BYN 39.66 million), TASK (BYN 38.4 million) and BELEXIMGARANT (BYN 33.3 million).

*EUR 1 = BYN 2.3442 (31.05.2018)

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