Location map
author: OCHA/ ReliefWeb

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

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

Macro indicators
* 2018 estimates
Pop. density*:45.6people/km2
GDP*:49.2EUR billion

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

Insurance market portfolio
* 2018 estimates
Overall Property*:26%




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Belarus 3Q2020 Insurance Companies Rankings

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Belarus 3Q2020 Market Portfolio

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Latest news

STATISTICS: BELARUS, 3Q2020: The market expanded by 6.43% y-o-y

For 9 months of 2020, GWP of the Belarusian insurance market amounted to BYN 1.09 billion (EUR 355.72 million), which is 6.43% more y-o-y in local currency. At the same time, paid claims increased by 12.25% to BYN 577.79 million, according to the data published by the Ministry of Finance of the Republic.

STATISTICS: BELARUS, 1Q2020: paid claims ratio went up exceeding 50%

In 1Q2020, the GWP of Belarusian insurance market amounted to BYN 379.9 million (~EUR 132 million*), in local currency reflecting an increase of 13% year-on-year, while in European currency the market growth rate was negative (-6.3%), as the data published by the Ministry of Finance show.

STATISTICS: BELARUS, FY2019: over 60% of all paid claims came from voluntary insurance lines

In 2019, the GWP of the Belarusian market amounted to BYN 1,403.4 million (~EUR 596.6 million), which is almost 14.5% more y-o-y in local currency. It's worth noting that the market growth rate remained mainly at the same level as a year before (+14.6% in 2018), maintaining its upward trajectory, the latest data from the Ministry of Finance of the Republic show.

BELARUS: 2019 insurance reserves increased by almost 18% y-o-y

As of January 1st, 2020, 16 insurance organizations and 30 insurance brokers were active on the insurance market of Belarus. Total number of insurers has not changed compared to 2018, according to the data of the Ministry of Finance of the Republic.