STATISTICS: BELARUSIAN insurers reported a 15% increase in GWP in the first quarter

According to the results published by the Belarusian Association of Insurers, in 1Q2015, total premiums in the insurance market have risen by 15% year-on-year to BYR 1,880 billion. In European currency, due to the devaluation of BYR in relation to EUR, the insurance market did not show growth in terms of GWP: EUR 118 million, or 2.2% less y-o-y. The claims paid by local companies reached BYR 993.88 million, up by almost 40% compared to 1Q2014.

Analyzing the financial figures in local currency, the GWP volume of the life insurance segment decreased by 23.84% to BYR 124.48 billion, while on the non-life business line the same indicator was up by 19.37% to BYR 1,756 million.

In 1Q2015, 24 players operated in the Belarusian insurance market, four of these being specialized on the life segment, 19 non-life insurers and one exclusive reinsurance company.

On the general insurance segment, the leader remained BELGOSSTRAKH (50.41% market share), followed by PromTransInvest (9.95%) and BELNEFTESTRAKH (8.66%).

On the life insurance segment, the first position was held by STRAVITA (88.76% market share).

Access www.xprimm.com and download the 1Q2015 Belarusian insurance market statistics.

Market portfolio (in EUR and BYR):
  • GWP
  • Paid Claims
  • Growth rates
Market rankings - in EUR and BYR (GWP/Paid claims/Market shares/Growth rates):
  • Life insurance ranking
  • Non-life insurance ranking

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