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


See all statistics

Latest news

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).





STATISTICS: BELARUS, 3Q2016, MoF: Insurance increased almost a quarter y-o-y

Belarusian insurance market totaled BYN 742 million (EUR 343 million) for the first nine months of 2016, 24.2% more y-o-y, according to the MoF market figures. In terms of paid claims, the market authority reported a 14.2% y-o-y increase, the 19 active market players paying almost BYN 394 million (EUR 182 million).

BELARUS: The Banking Sector Moving Towards Modernisation Despite Some Challenges

There are 26 banks, including 21 with foreign capital, operating in Belarus and five foreign institutions have their representative offices in the country, according to the country's National Bank. In January 2016, the banks' aggregate registered authorised capital amounted to 4.5 billion (or €2.2 billion), having increased by 33.4 per cent  compared to 2015.



STATISTICS: BELARUS, 1H2016: Market growth by 22.7%

According to data provided by the Ministry of Finance of Republic of Belarus, the local insurance market saw a 22.7% positive evolution in GWP terms at the end of the first half of 2016.

Call for faster development of insurance market in Belarus

The Belarusian market of insurance services should grow faster. Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich made the statement during the expanded participation session of the Presidium of the Council of the Republic of the National Assembly on 24 August, BelTA has learned. The session participants discussed the role and tasks of the upper chamber of the Belarusian parliament in implementing the priorities outlined by the main provisions of the 2016-2020 national social and economic development program.

Fitch Affirms Belarus at 'B-'; Outlook Stable

Fitch Ratings has affirmed Belarus's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'B-' with a Stable Outlook. The Short-Term Foreign-Currency and Local-Currency IDRs are affirmed at 'B' and the Country Ceiling at 'B-'.

BELARUS: "Open" the market for foreign strategic investors

The National Bank of Belarus has worked out a project named "Strategy of developing financial market in 2016-2020", which involves liberalization of the local insurance market and the equal rights of private insurance with government organizations.