BELARUS: in January-August, voluntary insurance in total premiums amounted to about 67%

9 October 2024 — Marina MAGNAVAL
In the first 8 months of this year, the market in Belarus amounted to BYN 1,691.9 million (~EUR 0.48 billion), which is 15.4% more y-o-y in national currency, as reported by the Ministry of Finance of the Republic of Belarus.

In voluntary insurance local insurers collected BYN 1,131.1 million during the period, which is BYN 147.2 million more than in the same period of 2023.

At the same time, premiums in compulsory insurance reached BYN 560.8 million for January-August 2024, which is BYN 78.6 million more y-o-y.

The share of voluntary insurance in the total market portfolio slightly decreased to 66.9% (for January-August 2023 - 67.1%).

Insurers' paid claims for January-August 2024 in the republic amounted to BYN 956.35 million (~EUR 270.84 million), which is BYN 94.2 million more than in January-August 2023. The level of paid claims in the total GWP for the period decreased to 56.5% (vs 58.8% for January-August 2023), the Ministry added.

*EUR 1 = BYN 3,5310 (as of August 31)



281 views