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.
In the first half of this year, the total value of claims paid by the Belarusian insurance companies increased by 16.46% compared with the first half of 2013, while premiums increased by only 7.6%. The level of insurance payments in the total amount of insurance premiums increased from 38.5% in the first half of 2013 to 43.6%.
The Finance Ministry of Belarus recently introduced standards to ensure proper operation of insurers, reports Forinsurer.
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.
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.
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.
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.
In 2013 Belarusian insurers received insurance premiums for direct insurance and coinsurance in the amount of EUR 494.56 million, 29.30% more compared with January-December 2012 (EUR 382.50 million).
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.
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.
Standard & Poor's Ratings Services revised its outlook on Belarusian
National Reinsurance Organization (Belarus Re) to stable from positive,
reads the press release of the company.
During the first 9 months of 2013, Belarusian insurance companies underwrote premiums of USD 527 million, 54.3% up y-o-y, according to the data provided by the Belarusian Ministry of Finance.
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.
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.
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' president has ordered the organizers of the 2014 ice hockey
world championship in the ex-Soviet nation to insure against losses in
case of a possible boycott.
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.
The Development Bank of the Republic of Belarus plans to take a decision
on its own insurance company before the end of the year, BelTA learned
from the bank.
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
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.