STATISTICS: BELARUS, 1H2014: Negative trend on the market driven by 16.46% increase of insurance payments and only +7,6% in GWP

In the first half of this year, the total value of claims paid by the Belarusian insurance companies increased by 16.46% compared with the first half of 2013, while premiums increased by only 7.6%. The level of insurance payments in the total amount of insurance premiums increased from 38.5% in the first half of 2013 to 43.6%.

Premiums from life insurance reached BYR 271,55 billion (EUR 19.55 million) or 7.5% of the total market, 81.60% more y-o-y, while those from non-life insurance reached BYR 3,34 trillion (EUR 240.57 million), or 4.15% more than in 1H2013.

During the first half of 2014 the total amount of paid claims reached to BYR 1,52 trillion (EUR 109.63 million), of which the share of voluntary insurance was of 44.3% and mandatory insurance - 55.7%

The largest share of the insurance market is occupied by state-owned companies, among which BELGOSSTRAKH and its subsidiary STRAVITA reached BYR 1.9 trillion in the first half of this year. This result is slightly more than a half of the reported premiums of the Belarusian insurance market in 1H2014.

Access www.xprimm.com and download the 1H2014 Belarusian insurance market statistics.

Market portfolio (in EUR and BYR):
  • GWP
  • Claims
  • Growth rates
  • Life and Non-Life market rankings
  • Market shares

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