Belarus

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Location map
author: OCHA/ ReliefWeb


Location:
- Eastern Europe.
- Neighbors: Poland, Lithuania, Latvia, Russia, Ukraine.

Climate:
- cold winters, cool and moist summers;
- transitional between continental and maritime.

Macro indicators
* 2018 estimates
Surface:207,595km2
Population*:9.5million
Pop. density*:45.6people/km2
GDP*:49.2EUR billion
GDP/capita*:5,197.0EUR

Currency: Ruble
Code: BYN
Since: 2016
- replaced the second Belarusian ruble (BYR)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:10%
TOTAL NON-LIFE*:90%
Overall Property*:26%

Sources:





 


Statistics

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Belarus 3Q2020 Insurance Companies Rankings

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Belarus 3Q2020 Market Portfolio


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Latest news

New types of mandatory insurance discussed in BELARUS

Two new types of mandatory insurance might be introduced in Belarus, First Deputy Finance Minister of Belarus Vladimir Amarin said on 21 March at a session to discuss the domestic insurance market. The session was hosted by the Belarusian head of state, BelTA learnt from the press service of the Belarusian President.


BELARUS: First step towards the creation of a national medical assistance company

This week the Belarusian export-import insurance enterprise EXIMGARANT of Belarus and BELGOSSTRAKH signed a memorandum of cooperation with the Israeli company GORAL Assistance Ltd., targeting the creation of a national medical assistance company in Belarus, BelTA reports quoting the Embassy of Belarus in Israel.

BELARUS, 3Q2013: 54% growth rate and ready for change

The Belarusian insurance market totaled BYR 4,834,398 million for the first nine months of 2013, informed the Belarusian Association of Insurers, 54.29 % more compared with January-September 2012. Calculating in the European currency, the insurance market has accounted for EUR 394.64 million, up 38.42% y-o-y.



Eximgarant of Belarus, Ukreximbank sign agreement on cooperation

The Belarusian republican unitary enterprise of export-import insurance Eximgarant of Belarus and the State Export Import Bank of Ukraine (Ukreximbank) signed a general agreement on cooperation and joint activities, BelTA learned from Eximgarant of Belarus.

BELARUS 1H2013: positive prospects for an opening market

The Belarusian insurance market has accounted for EUR 293.64 million during the first six months of 2013, up by 56.30 %, compared with January-June 2012, according to the Belarusian Association of Insurers. Meanwhile, the total value of claims paid by the insurance companies during January- June 2013 period reached EUR 113.14 million.

BELARUS: Foreign capital in insurance market on the rise

The footprint of foreign insurers in the Belarusian insurance market is increasing, with the Belarusian Association of Insurers saying the presence of foreign capital has increased by more than 60% over the last three years, Forinsurer reported.


BELARUS: Insurance up 96% in 1Q2013

Belarusian 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.


BELARUS: BELARUS Re to positive from stable

Standard & Poor's Ratings Services said today that it had revised its outlook on Belarusian National Reinsurance Organization (Belarus Re) to positive from stable. At the same time we affirmed the 'B-' counterparty credit and insurance financial strength ratings on Belarus Re.

BELARUS: FITCH affirms BELGOSSTRAKH and EXIMGARANT

Fitch Ratings has affirmed Belarusian Republican Unitary Insurance Company's (Belgosstrakh) and Export-Import Insurance Company of the Republic of Belarus's (Eximgarant) Insurer Financial Strength (IFS) ratings at 'B-'. The Outlooks are Stable.

BELARUS, FY2012: The market was "hit" by a double-digit increase in GWP and profit

The Belarusian insurance market continued its upward path stagnating last year as the local insurance companies collected premiums worth BYR 4,338 billion (EUR 382 million), up by over 83 percent y-o-y, informed the Belarusian Association of Insurers. In terms of paid claims, the Association reports a 4% y-o-y increase, the 24 market players paying almost BYR 2,065 billion (EUR 182 million).

BELARUS, 3Q2012: Insurance market has doubled y-o-y

Belarusian insurance market totaled BYR 3,566 billion for the first nine months of 2012, informed the Belarusian Association of Insurers, 98.5% more compared with January-September 2011. Calculating in the European currency, due the devaluation of BYR in relation to EUR, the insurance market shows a less pronounced increase: EUR 324 million, up 38% y-o-y.

IFRS to enable BELARUSIAN companies to access international capital markets

The use of international financial reporting standards (IFRS) will help Belarusian companies to get access to international capital markets, chief of the main department for accounting, reporting and audit of the Finance Ministry of Belarus Tatiana RYBAK told an online conference on the BelTA website on 18 December.



BELARUS, 1H2012: The market continues its fast rise

According to results published by the Belarusian Association of Insurers, in 1H2012, total premiums in the insurance market rose in local currency by over 120% year-on-year to BYR 1,966 billion. In European currency, due the devaluation of BYR in relation to EUR, the insurance market shows a moderate increase in terms of GWP: EUR 189.7 million, up 52.92% compared to 1H2011.