BELARUS: 11 months share of voluntary insurance increased to 62%

13 January 2020 — Marina MAGNAVAL
From January to November 2019, the GWP of Belarusian insurers reached BYN 1.24 billion (~EUR 0.54 billion), which is 12.9% more y-o-y, as the statistical data published by the Ministry of Finance show.

In voluntary classes, insurers generated GWP worth of BYN 773.5 million (~EUR 333.3 million), while GWP of compulsory lines amounted to BYN 474.0 million (~EUR 204.2 million). Therefore, the share of voluntary insurance GWP in the market portfolio increased to 62% (from 59.6% a year ago).

Total market paid claims for the mentioned period reached BYN 639.4 million (~EUR 275.5 million) and the level of paid claims in total GWP grew to 51.3% (vs. 50.2% at the end of November 2018).

*EUR 1 = BYN 2.3207 (as of 01.12.2019)

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