The market noted the trend of outstripping growth in the voluntary segment, the share of which increased by 2.9 p.p. to 61.3% in the market portfolio (vs 58.4% in 2018 and 56.6% in 2017). Among the voluntary insurance classes, the largest shares fall on personal insurance (42.3%), property insurance (51%), liability (5.2%) and others. The market share of mandatory insurance amounted to 38.7% (vs 41.6% a year ago).
Total insurance paid claims reached BYN 710.6 million (EUR 302.07 million), which is about 14% more y-o-y. At the same time, voluntary insurance accounted for 60.3% of total paid claims, while mandatory - for 39.7%.
BELGOSSTRAKH remains the market leader with a share exceeding 46%. TOP-3 companies in terms of GWP include STRAVITA, which ranks 2nd, but also leads in life insurance, and PROMTRANSINVEST.
*1 EUR = 2.3524 BYN (December 31st, 2019)
- Belarus FY2019 Market Portfolio
- Belarus FY2019 Insurance Companies Rankings
- Figures in EUR and BYN:
- Paid claims
- Growth rates
- Market shares