STATISTICS: BELARUS, 1Q2016: Local market maintained its positive evolution despite the currency devaluation's negative impact

According to data published by the Ministry of Finance of Belarus, in the first quarter of 2016 the local insurance market reached to BYR 2,349,922.06 million, up by 24.94%. To main driver of the positive market evolution was the life insurance segment, which increased by 63.94%, while non-life insurance went up by 22.18%.

In European currency, due to the local currency devaluation, the market figures show a quite different trend in GWP terms: EUR 103.16 million or 12.41% less y-o-y.

In the reporting period, claims paid by local insurers increased by 19.41%, to BYR 1,186,794.52 million, of which BYR 100,583.24 million were life indemnities and BYR 1,086,211.28 million - paid claims related to non-life sub-classes.

Access www.xprimm.com and download the 1Q2016 Belarusian insurance market statistics.

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.

2018-09-11

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.

2018-07-09

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).

2018-06-14

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.

2018-05-10

ON THE MOVE

IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.

15.11.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all