STATISTICS: Belarus, 3Q2017: Top-5 insurers generated about 75.98% of the market GWP

In 3Q2017, the Belarusian insurance market recorded a GWP growth of 5.25%, to BYN 780.94 million, mostly driven by the life insurance segment. Claims paid by insurers went down by 0.19% to BYN 393.22 million.

The positive dynamics of savings-life insurance and supplementary pension insurance has been influenced by the fiscal incentivisation of individuals and legal entities in case of concluding agreements for life insurance and supplementary pension insurance.

In the reporting period, by type of insurance the growth drivers were life insurance, medical expenses insurance, accidents, property of legal entities and individuals, accidents at work and occupational diseases and insurance of temporary managers in case of economic insolvency (bankruptcy).

The Top-5 insurers generated about 75.98% of the market GWP: BELGOSSTRAKH accounted for the largest share on the local market 46.48%, followed by BELNEFTESTRAKH 7.48%, STRAVITA 7.45%, PromTransInvest 7.38% and Eximgarant of Belarus 7.19.

Access www.xprimm.com and download the 3Q2017 Belarusian insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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