BELARUS: in January-May the market rises 15.5%

8 July 2024 — Marina MAGNAVAL
For January-May 2024, the insurance sector of Belarus amounted to BYN 1,060.4 million (~EUR 0.30 billion), which is 15.5% more y-o-y, the Ministry of Finance reports.

In voluntary insurance for January-May 2024 premiums reached BYN 719.3 million, which is BYN 92.4 million more than in the same period in 2023.

Compulsory insurance amounted to BYN 341.1 million, which is BYN 50.3 million more than in January-May 2023.

The share of voluntary insurance in the total market portfolio slightly decreased to 67.8% (vs 68.3% for January-May 2023).

In January-May 2024, total paid claims reached BYN 578.9 million, which is BYN 42.8 million more than a year earlier. The ratio of paid claims in premiums for the period decreased to 54.6% (from 58.4% for January-May 2023), the regulator says.

*EUR 1 = BYN 3,4668 (as of 31.05.2024)