BELARUS: BelVEB Strakhovanie moved from non-life to life insurance

10 January 2022 —
BelVEB Strakhovanie insurance company has "switched" from non-life to life insurance on January 3, 2022, which is the first and only such experience on the Belarusian insurance market, the Belarusian Association of Insurers reported.

Based on the relevant decision of the Ministry of Finance of Belarus, the insurer obtained the right to carry out voluntary life insurance.

At the same time, BelVEB Strakhovanie will unconditionally fulfill its obligations to customers under non-life insurance contracts concluded before January 3, 2022, which are considered valid until the end of the insurance period mentioned.

At the end of the third quarter of 2021, the company ranked 14th in the Belarusian insurance market.