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 1H2020 Insurance Companies Rankings

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Belarus 1H2020 Market Portfolio


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Latest news


BELARUS: 5 months' result demonstrated 16.6% market growth

Belarusian insurance market bottom-lined 5 months' result show this year GWP amounted to BYN 508.8 million* and the growth rate, compared to the same period last year, amounted to 16.6%, informed the Ministry of Finance of the Republic on its official website.


BELARUS: Belarusian insurance market is expecting liberalization and changes

The planned changes in the local insurance sector will affect life insurance. Besides, the market is expecting liberalization, correction of working conditions and development of online insurance, said the Head of the insurance supervisory main department at the Ministry of Finance of Belarus - Sergey OSENKO during his interview for BELTA (Belarusian information agency).



BELARUS, 1Q2018: GWP increase by 18% y-o-y

In 1Q2018 Belarusian insurers generated GWP of direct insurance and co-insurance in the amount of BYN 299.6 million (~EUR 125 million), which is 18% more than a year before, - informed the Ministry of Finance of the Republic.




Belarus: 18% GWP nominal y-o-y growth in January 2018

Belarusian market started 2018 year with January GWP in the amount of BYN 101.5 million (EUR 41.4 million), which is by 18.4% more, in nominal terms, than in January of 2017, as informed by the Ministry of Finance of the Republic of Belarus.

STATISTICS: Belarus, FY2017: insurers' profit increased by 45%

In 2017 GWP of Belarusian insurance companies amounted to BYN 1.05 billion (EUR 446 million), 6.4% more y-o-y. GWP ceded in reinsurance reached BYN 1.03 billion (EUR 437million) against BYN 0.98 billion in 2016, thus 6% increase in 2017.



BELARUS: Financial market activity depends on economic recovery

Financial market activity in Belarus depends on the pace of economic recovery. It is important that the National Bank and the government should be able to offer a competitive business environment for those markets. Today 75% of shares of Belarusian OAOs are owned by the state. The future of the financial market will depend how those shares get to that market and how they circulate there.


BELARUS: Fitch outlooks for three top insurers revised to positive; IFS ratings affirmed at B-

Fitch Ratings has revised the Outlooks on three state-owned Belarus insurers to Positive from Stable while affirming the Insurer Financial Strength (IFS) Ratings at 'B-'. The affected insurers are Belarusian Republican Unitary Insurance Company (Belgosstrakh), Belarusian National Reinsurance Organisation (Belarus Re), Export-Import Insurance Company of the Republic of Belarus (Eximgarant).