In January-October 2024, total GWP of insurance organizations of the republic amounted to BYN 2,166.1 million (~EUR 0.61 billion), which is 18.9% more y-o-y, according to the Ministry of Finance of the Republic of Belarus.

Voluntary insurance in January-October 2024 amounted to BYN 1,453.6 million, which is BYN 241.7 million more than a year earlier.

Mandatory insurance reached BYN 712.5 million, which is BYN 102.1 million more than in the same period in 2023.

The share of voluntary insurance in the market increased slightly and amounted to 67.1% (vs 66.5% in January-October 2023).

For January-October 2024, total paid claims amounted to BYN 1,202.8 million (~EUR 0.34 billion), which is BYN 120.9 million more y-o-y. The level of paid claims in the total amount of premiums for the period decreased to 55.5% (for January-October 2023 - 59.4%), the Ministry said in its statement.

*EUR 1 = BYN 3.55 (31.10.2024)