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 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

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

BELARUS: GWP y-o-y growth for January-July exceeded 15%

For the period of January-July 2018 Belarusian insurers generated BYN 705.2 million* of GWP (direct insurance and co-insurance). Annual growth of premiums (compared to the same period in 2017) amounted to 15.2%, as reported by the Ministry of Finance of the Republic.



Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.



Conclusions: TBILISI - the first Georgian International Insurance Conference

Today takes place in Tbilisi the first Georgian International Insurance Conference, an event that will put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system is the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.


Motor insurance - becoming more financially efficient and consumer friendly

Under the strong pressure put by the technological evolution, the motor insurance business is rapidly changing, both in operational terms and, most visible, in the way insurers are interacting with their customers. Step by step, the insurers' relationship with customers evolves from simply indemnifying insureds for the losses suffered because of road incidents, to helping them prevent incidents and rapidly recover after the accidents that couldn't be avoided.


See all