Belarus

Location:
Eastern Europe, east of Poland

Climate:
cold winters, cool and moist summers; transitional between continental and maritime

Natural hazards:
NA






Currency: Ruble (BYR)

1 EUR = 14,380.00 Ruble - BYR (December 31st, 2014)
1 EUR = 13,080.00 Ruble - BYR (December 31st, 2013)
1 EUR = 11,340.00 Ruble - BYR (December 31st, 2012)
1 EUR = 10,800.00 Ruble - BYR (December 31st, 2011)
1 EUR = 3,972.60 Ruble - BYR (December 31st, 2010)

Sources:
The Belarusian Association of Insurers
National Bank of the Republic of Belarus


Insurance statistics

1H2017Market portfolioxlsx
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FY2014Market portfolioxlsx
FY2014Insurance Companies Rankingsxlsx
3Q2014Market portfolioxlsx
3Q2014Insurance Companies Rankingsxlsx
1H2014Insurance market overview pdf
1H2014Market portfolioxlsx
1H2014Insurance companies rankingsxlsx
1Q2014Market portfolioxlsx
1Q2014Insurance Companies Rankingsxlsx
FY2013Insurance market overview pdf
FY2013Market portfolio (Ministry of Finance of the Republic of Belarus)xlsx
FY2013Market portfolioxlsx
FY2013Insurance Companies Rankingsxlsx
3Q2013Market Portfolioxlsx
3Q2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1H2013Market portfolioxlsx
1H2013Insurance companies rankingsxlsx
1Q2013Market portfolioxlsx
1Q2013Insurance companies rankingsxlsx
FY2012Insurance market overview pdf
FY2012Insurance Companies Rankingsxlsx
FY2012Market portfolioxlsx
3Q2012Insurance Companies Rankingsxlsx
3Q2012Market Portfolioxlsx
1H2012Insurance market overview pdf
1H2012Insurance Companies Rankingsxlsx
1H2012Market Portfolioxlsx
1Q2012Insurance Companies Rankingsxlsx
1Q2012Market Portfolioxlsx
FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
FY2011Insurance Companies Rankingsxlsx
3Q2011Market portfolio and market profitabilityxlsx
3Q2011Insurance companies rankingxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010Insurance market overviewpdf
2010Market portfolio and rankingsxls
2009Insurance market overviewpdf
2009Market portfolio and rankingsxlsx
1H2010Belarussian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankingsxls

1H2017 Market portfolio

1H2017 Insurance Companies Rankings

STATISTICS: BELARUS, 1H2015: Devaluation of the BYR against the "hard" currency had a negative influence on the main types of insurance that can be bought in foreign currency

The growth and strengthening of the crisis phenomenon due to the fall of oil prices (editor's note: On August, 2015 the cost of Brent crude oil fell below USD 42.87/per barrel, so once again the price for the Brent crude oil is close to its lowest level in six years), as well as the devaluation of RUB, the extending of sanctions for Russia (which is the main trade partner of the Republic of Belarus) and the fall on the Chinese stock market led to the low economic growth in Belarus last year.

STATISTICS: BELARUSIAN insurers reported a 15% increase in GWP in the first quarter

According to the results published by the Belarusian Association of Insurers, in 1Q2015, total premiums in the insurance market have risen by 15% year-on-year to BYR 1,880 billion. In European currency, due to the devaluation of BYR in relation to EUR, the insurance market did not show growth in terms of GWP: EUR 118 million, or 2.2% less y-o-y. The claims paid by local companies reached BYR 993.88 million, up by almost 40% compared to 1Q2014.

BELARUS' major companies urged to list on international stock exchange

We need to look into the possibility of floating the shares of Belarus' major companies on the world stock exchanges, Belarus President Alexander Lukashenko said during his annual address to the Belarusian people and the National Assembly on 29 April, BelTA has learned.

Russian export insurance agency interested in new projects in BELARUS

OAO EXIAR (The Export Insurance Agency of Russia) is interested in the implementation of new investment projects in Belarus, BelTA learned from the Information and Public Relations Office of the National Bank of the Republic of Belarus (NBRB) after NBRB Chairman of the Board Pavel Kallaur met with Piotr Fradkov, First Vice Chairman, member of the Board of the Russian bank Vnesheconombank, and Alexei Tyupanov, Chairman of the Management Board, Director General of OAO EXIAR.

Bermuda seeks business in BELARUS

Bermuda has launched a bid to drum up business in the former Soviet Union. A group from the Bermuda Business Development Agency (BDA) held a roadshow in the Belarusian capital of Minsk, hosted at the home of the British ambassador, aimed at boost business links with central and eastern Europe (CEE) countries.

Amendments on income tax increase pass first reading in BELARUS

A draft bill on introducing additions and amendments to the Tax Code passed the first reading at the Belarusian parliament on 11 December, BelTA has learned. The draft bill provides for the increase of the income tax rate from 12% to 13%. The funds will be used to support families with children, Finance Minister Vladimir Amarin said as he presented the draft bill in the House of Representatives.