Belarus

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Location map
author: OCHA/ ReliefWeb


Location:
- Eastern Europe.
- Neighbors: Poland, Lithuania, Latvia, Russia, Ukraine.

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

Macro indicators
* 2018 estimates
Surface:207,595km2
Population*:9.5million
Pop. density*:45.6people/km2
GDP*:49.2EUR billion
GDP/capita*:5,197.0EUR

Currency: Ruble
Code: BYN
Since: 2016
- replaced the second Belarusian ruble (BYR)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:10%
TOTAL NON-LIFE*:90%
Overall Property*:26%

Sources:





 


Statistics

Belarus 1Q2019 Rankings

Belarus 1Q2019 Market Portfolio


See all statistics

Latest news

BELARUS: Belagroprombank receives EUR 18m loan from Austria's VTB Bank

Belagroprombank and VTB Bank (Austria) AG have signed a loan agreement. In line with the agreement the Austrian bank will provide Belagroprombank with a EUR 18 million loan, BelTA learned from Belagroprombank. Registered in 1991 Belagroprombank is one of Belarus' biggest commercial banks. The bank's major shareholders are the State Property Committee of Belarus (82.4%), the insurance company Belgosstrakh (9.6%), Belarusian National Reinsurance Organization (5.1%). The bank has over 46,000 corporate clients and 1.8 million individual customers.



BELARUS, 1Q2014: Market declined by 6.53% y-o-y

In 1Q2014 Belarusian insurers received insurance premiums for direct insurance and coinsurance in the amount of BYR 1,634,767.48 million, 6.53% less as compared with January-March 2013. The total value of claims paid by the insurance companies during January- March 2014 period reached BYR 712,026.13 million or EUR 52.47 million.

BELARUS: Swiss insurance companies, Belarusbank to bolster cooperation

Swiss insurance companies are ready to expand cooperation with OAO ASB Belarusbank, the bank's press service told BelTA. During a recent visit to Switzerland the Belarusbank delegation held negotiations with top executives of the Swiss national agency for insuring export loans SERV.

Lukashenko: BELARUS' insurance market needs a boost

The insurance market in Belarus should develop more vigorously, Belarusian President Alexander Lukashenko said at a session to discuss the insurance market of Belarus on 21 March, BelTA has learnt.

New types of mandatory insurance discussed in BELARUS

Two new types of mandatory insurance might be introduced in Belarus, First Deputy Finance Minister of Belarus Vladimir Amarin said on 21 March at a session to discuss the domestic insurance market. The session was hosted by the Belarusian head of state, BelTA learnt from the press service of the Belarusian President.


BELARUS: First step towards the creation of a national medical assistance company

This week the Belarusian export-import insurance enterprise EXIMGARANT of Belarus and BELGOSSTRAKH signed a memorandum of cooperation with the Israeli company GORAL Assistance Ltd., targeting the creation of a national medical assistance company in Belarus, BelTA reports quoting the Embassy of Belarus in Israel.

BELARUS, 3Q2013: 54% growth rate and ready for change

The Belarusian insurance market totaled BYR 4,834,398 million for the first nine months of 2013, informed the Belarusian Association of Insurers, 54.29 % more compared with January-September 2012. Calculating in the European currency, the insurance market has accounted for EUR 394.64 million, up 38.42% y-o-y.



Eximgarant of Belarus, Ukreximbank sign agreement on cooperation

The Belarusian republican unitary enterprise of export-import insurance Eximgarant of Belarus and the State Export Import Bank of Ukraine (Ukreximbank) signed a general agreement on cooperation and joint activities, BelTA learned from Eximgarant of Belarus.

BELARUS 1H2013: positive prospects for an opening market

The Belarusian insurance market has accounted for EUR 293.64 million during the first six months of 2013, up by 56.30 %, compared with January-June 2012, according to the Belarusian Association of Insurers. Meanwhile, the total value of claims paid by the insurance companies during January- June 2013 period reached EUR 113.14 million.

BELARUS: Foreign capital in insurance market on the rise

The footprint of foreign insurers in the Belarusian insurance market is increasing, with the Belarusian Association of Insurers saying the presence of foreign capital has increased by more than 60% over the last three years, Forinsurer reported.


BELARUS: Insurance up 96% in 1Q2013

Belarusian insurance market totaled BRY 1,749 billion (equivalent of EUR 157 million) during the first three months of 2013, up by 95.8%, compared to January-March 2012, The Belarusian Association of Insurers reported. Meanwhile, the total value of claims paid by the insurance companies during January-March 2013 period reached BYR 580 billion or EUR 52 million.


BELARUS: BELARUS Re to positive from stable

Standard & Poor's Ratings Services said today that it had revised its outlook on Belarusian National Reinsurance Organization (Belarus Re) to positive from stable. At the same time we affirmed the 'B-' counterparty credit and insurance financial strength ratings on Belarus Re.

BELARUS: FITCH affirms BELGOSSTRAKH and EXIMGARANT

Fitch Ratings has affirmed Belarusian Republican Unitary Insurance Company's (Belgosstrakh) and Export-Import Insurance Company of the Republic of Belarus's (Eximgarant) Insurer Financial Strength (IFS) ratings at 'B-'. The Outlooks are Stable.