BELARUS: GWP growth rates remain above the 15% threshold

31 October 2018 — Marina MAGNAVAL
For 8 months this year insurers of Belarus generated GWP in the amount of BYN 804.9 million. At that growth rates remain above the 15% threshold, according to the data, published by the Ministry of Finance.

GWP of voluntary classes for the period under consideration reached BYN 479.4 million (BYN 77.7 million more y-o-y). Contribution of compulsory classes in the market GWP amounted to BYN 325.5 million (BYN 30.2 million more y-o-y). Thanks to the growing trend of voluntary classes the market share of the voluntary insurance slightly increased from 57.6% (for Jan-Aug 2017) to 59.6%.

Total paid claims of the local market for 8 months also went up and reached BYN 401.5 million (BYN 48.8 million more y-o-y), however, the share of paid claims in the market GWP slightly decreased y-o-y from 50.6% to 49.9%.

*EUR 1 = BYN 2.4318 (31.09.2018)

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