BELARUS: insurance market's growth during 4 months this year totaled 18.9%

2 July 2018 — Marina MAGNAVAL
Belarusian insurance market during January-April 2018 increased by 18.9% compared to the same period a year ago. During the first four months local insurers generated BYN 402.2 million*, said the Ministry of Finance of Belarus.

Voluntary classes are ahead of the compulsory ones. During the period under review GWP in voluntary insurance amounted to BYN 248.3 million (BYN 45.8 million more than a year before). In compulsory insurance local companies in four months produced BYN 153.9 million (BYN 18 million more than in Jan-April last year). The share of the voluntary insurance in total GWP amounted to 61.7% (vs 59.9% a year ago).

Paid claims during the first 4 months on the local market reached BYN 198.2 million (BYN 32.4 million more than a year ago). Claims' weight in total GWP remained almost the same and amounted to 49.3% (vs 49%).

*EUR 1 = BYN 2.4258 (30.04.2018)

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