BELARUS: Insurance up 96% in 1Q2013

8 August 2013 — Vlad BOLDIJAR
belarus-statisticsBelarusian 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.

Premiums from life insurance reached BYR 77 billion (almost EUR 7 million) or 4.4% of total market, 133% more y-o-y, while those from non-life insurance reached BYR 1,672 billion (EUR 150 million), or 94.4% more than in 1Q2012.

In the analyzed period, the market leader was BELGOSSTRAKH (44.8% of total), which was followed by EXIMGARANT OF BELARUS and PromTransInvest with shares of 9.7% and 7.9%, respectively. The insurance concentration by total GWP of the first 3 companies decreased from 62.6% in 1Q2012 to 62.4% at the end of March, 2013.

Access and download the 1Q2013 Belarusian insurance market statistics.

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