BELARUS: GWP growth for Jan-Nov 2018 amounted to almost 17% y-o-y, while paid claims' share in total premiums remained unchanged

9 January 2019 — Marina MAGNAVAL
For January-November in 2018 GWP of the Belarusian insurers amounted to BYN 1.1 billion, at that y-o-y growth of GWP reached 16.7%, according to the data, published by the Ministry of finance of the Republic.

About 60% of total GWP was generated by voluntary classes (vs 57.1% a year ago), GWP of voluntary segment amounted to BYN 659 million (BYN 118.1 million more y-o-y). In compulsory segment insurers collected BYN 446.3 million of GWP (BYN 40.2 million more y-o-y).

Total paid claims during the period under consideration amounted to BYN 554.6 million (BYN 79.1 million more y-o-y). At that the share of paid claims in total GWP for Jan-Nov 2018 remained unchanged y-o-y at the level of 50.2%.

BELGOSSTRAKH keeps the leading place in the market in terms of GWP, paid claims and net profit, the insurer's GWP amounted to almost 515 million, it is followed by PROMTRANSINVEST (about BYN 91 million), BELNEFTESTRAKH, TASK and BELEXIMGARANT - GWP of all those from TOP-5 exceed the level of BYN 50 million. Among 20 insurance companies in the local market, only 15 were active in premium collection. The smallest GWP was recorded by INGOSSTRAKH (BYN 8 million).

*EUR 1 = BYN 2.4262 (01.12.2018)

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