During January - September of 2011, the insurance companies in Belarus underwrote premiums worth BYR 1,527.25 (EUR 200 million), about 58% higher than the similar time of 2010. Altogether, the insurance companies paid claims of BYR 879.45 billion (EUR 115 million), 53% higher than in the similar period of 2010, according to the data published by the The Belarusian Association of Insurers.
DYNAMO Association, BELGOSSTRAKH (the biggest insurance company in Belarus) and BELARUSBANK launched the first service in Belarus where citizens can buy online insurance policies, announced www.tvr.by.
In first eight months of 2011, the insurance companies from Belarus underwritten premiums of BYR1.307 trillion, up 54% compared to 2010.
Insurance companies from Belarus registered a 44.7% increase in underwritings in the first quarter, reporting gross premiums worth RUB 887.2 billion, said, for XPRIMM News, Irina MERZLYAKOVA, President of Belarus Insurers Association, during the International Financial Forum in Yalta. Of these, voluntary insurance owns a share of 49.9% or RUB 443.1 billion.
During January - May of 2011, the insurance companies in Belarus underwrote premiums worth BYR 693.66 billion (EUR 97.60 million), about 39% higher than the similar time of 2010 (BYR 500.91 billion - EUR 70.48 million).
Insurance companies in Belarus recorded in 2010 gross written premiums
worth USD 446 million, increasing by 26.1% in comparison with 2009,
showed the data provided by the Ministry of Finances.
AXA announced on the December 29th 2010 its 80% B&B Insurance
Belarus share purchase, a company holding the first place on the local
profile market and the second place on the local non-life insurance
"The market is at an early stage, therefore the effects of the
financial crisis were hardly felt, but we still have the major issue of
the motor insurance, dominant in terms of market share", Irina
MERZLYAKOVA, General Manager of the Belorussia Insurers' Association
In the first quarter of 2010 Belorusian insurance companies have wrote
EUR 76.8 million in premiums, an increase by 14.3% comparing to the
same period of the previous year, according to local Ministry of
Polish-based PZU, the biggest insurance company on the local market,
has expressed its interest in Belorussian state-owned insurer
BELGOSSTRAKH, according to sources from the local market.
PZU may acquire the majority stake in BELGOSSTRAKH if the state
concludes the privatization procedure, said the source. The first steps
in this direction have already been made and the privatization is
expected to be completed in December 2010.
Belorussian insurance companies have underwrote gross premiums of
approximately EUR 280 million in 2009, an increase by 18.5% compared to
2008, according to Belorussian Ministry of Finance.