A new insurance company, SBS-Polis, has been registered on the Belarusian insurance market. In February of this year, the Ministry of Finance of the Republic of Belarus approved SBS-Polis’s license to conduct insurance activities, according to the Belarusian Association of Insurers.

The company's sole founder is Sber Bank OJSC, one of Belarus's largest banks. The primary objective behind establishing this insurance subsidiary was to implement a strategic development plan of the Sber Bank banking holding, aimed at providing residents and businesses in Belarus with a full range of high-quality banking and financial services.

SBS-Polis is being established as a universal insurer that will serve both private clients and large enterprises. Active preparations are currently underway to set up all the necessary infrastructure to launch insurance products. Sales are scheduled to commence in the second quarter of this year.