BELARUS: from January-May the market grew by almost 14% y-o-y

GWP of Belarussian insurers from January to May this year amounted to BYN 578.9 million (~EUR 248.1 million), which is 13.8% more y-o-y, according to the Ministry of Finance of the Republic.

GWP of the voluntary classes increased by 18.1% y-o-y, to BYN 362.8 million (~EUR 155.5 million), while compulsory insurance grew by 7.1%, to BYN 216.1 million (~EUR 92.6 million). The market share of the voluntary insurance reached 62.7% (vs 60.4% a year ago).

Paid claims for the period jumped to BYN 279.3 million/~EUR 119.7 million (+7.9% y-o-y), and the level of paid claims in total market GWP slightly decreased and amounted to 48.2% (vs 50.9% for Jan-May 2018).

*EUR 1 = BYN 2.3330 (as of 31.05.2019)

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