Belarus
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Belarus 3Q2022 Market Portfolio
Belarus 1H2022 Market Portfolio
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BELARUS: 2019 insurance reserves increased by almost 18% y-o-y
As of January 1st, 2020, 16 insurance organizations and 30 insurance brokers were active on the insurance market of Belarus. Total number of insurers has not changed compared to 2018, according to the data of the Ministry of Finance of the Republic.
23 April 2020BELARUS: new legislation, adopted in 2019, aims to liberalize the insurance market
The main achievement in 2019 for the insurance market was adoption of the Presidential Decree No. 175, aiming at liberalization of the insurance business, according to the magazine "Insurance in Belarus".
2 April 2020BELARUS: Fitch affirmed BELEXIMGARANT rating at 'B', stable outlook
The international rating agency Fitch Ratings affirmed the rating of BELEXIMGARANT at 'B' with a stable outlook, BELTA reports with a reference to the agency's press release.
24 March 2020BELARUS: 11 months share of voluntary insurance increased to 62%
From January to November 2019, the GWP of Belarusian insurers reached BYN 1.24 billion (~EUR 0.54 billion), which is 12.9% more y-o-y, as the statistical data published by the Ministry of Finance show.
13 January 2020STATISTICS: BELARUS, 3Q2019: over 60% of the paid claims fell on voluntary classes
Market GWP for 9 months of 2019 amounted to BYN 1.03 billion (EUR 455.06 million*), in local currency translating in an almost 13.70% increase y-o-y, as the data published by the Ministry of Finance of the Republic show.
19 December 2019BELARUS: paid claims for insurance against accidents and illnesses during trips abroad increased by 23% y-o-y
According to the Belarusian Association of Insurers, from January to September 2019, local insurers paid almost BYN 9 million (~USD 4.5 million) for insurance against accidents and illnesses during travelling abroad, which is 23% more y-o-y, said the association in its press release.
11 December 2019BELARUS: pension agreement between Belarus and Czech Republic entered into force on October 1
The pension agreement d/d March 14, 2018 between Belarus and Czech Republic entered into force on October 1, as BELTA agency informed with reference to the Ministry of Labor and Social protection of Belarus.
8 October 2019BELARUS: innovations in compulsory insurance against industrial accidents and occupational diseases
Based on the decision of the Council of Ministers d/d August 29, 2019, from September 1st, innovations in compulsory insurance against industrial accidents and occupational diseases entered into force, BELTA news agency informs.
19 September 2019BELARUS: decree "On insurance" provides for innovations from September
As of September 1, 2019, the limits of insurance indemnity for accidents, documented without traffic police, have increased from EUR 400 to EUR 800 in Belarus, the BELTA news agency informs.
5 September 2019STATISTICS: BELARUS, 1H2019: life insurance increased by almost 31% y-o-y
In the first half of 2019, GWP of the Belarusian market amounted to BYN 689.9 million (EUR 296.72 million), which in local currency is 13.63% more y-o-y. At that, paid claims increased by only 9.16%, to BYN 333.56 million (EUR 143.46 million), data published by the Ministry of Finance show.
29 August 2019Eximgarant of Belarus, EXIAR sign agreement on unified reinsurance platform
28 August 2019BELARUS: concept bill "On insurance" to expand possibilities in compulsory insurance and change strict a licensing
The Belarussian Ministry of Finance is preparing a concept bill "On insurance", which will establish a uniform approach for insurer activity, as well as expand possibilities for state and non-state insurers in compulsory insurance for placing and investing funds and insurance reserves, BELTA news agency reports.
7 August 2019BELARUS: from January-May the market grew by almost 14% y-o-y
GWP of Belarussian insurers from January to May this year amounted to BYN 578.9 million (~EUR 248.1 million), which is 13.8% more y-o-y, according to the Ministry of Finance of the Republic.
11 July 2019BELARUS: significant changes expected in the insurance sector from September 1
Presidential Decree #175 "On insurance" d/d May 11, 2019 calls for a number of significant changes for the insurance market from September 1, 2019, Minsk-News reports.
27 June 2019STATISTICS: BELARUS, 1Q2019: market GWP went up by more than 12% y-o-y, while paid claims ratio decreased by 4.6%
In 1Q2019, GWP of the Belarusian market amounted to BYN 336.41 million (EUR 140.82 million), 12.30% more y-o-y, data published by the Ministry of Finance, show.
30 May 2019STATISTICS: BELARUS, FY2018: The market grew by more than 14%
In 2018, total market GWP reached BYN 1,226.04 million (EUR 495.69 million), which is 14.57% more y-o-y, according to figures published by the Ministry of Finance of the Republic. Market growth in Euro looks much more moderate (9.10%).
18 April 2019BELARUS: S&P affirmed 'B/B' ratings, outlook stable
On April 5, 2019 S&P Global Ratings affirmed a 'B/B' long and short-term foreign and local currency sovereign ratings for Belarus, the outlook remains stable, the agency reported.
10 April 2019Fitch affirms Eximgarant of Belarus at 'B'
8 April 2019BELARUS: market growth in January 2019 exceeded 16% y-o-y
In January 2019, local market GWP amounted to BYN 123.8 million (+16.4% y-o-y), according to market figures published by the Ministry of Finance of the Republic.
14 March 2019EUROINS acquires ERGO subsidiaries in Czech Republic, Romania and Belarus
Bulgaria-based Euroins Insurance Group (EIG) has made a purchase agreement with Germany-based ERGO International AG for buying 4 ERGO insurance companies. EIG will take control over ERGO's life and non-life subsidiaries in Romania and Czech Republic, as well as the non-life company in Belarus.
7 March 2019
