Belarus
Fitch affirms Eximgarant of Belarus at 'B' 19 April 2018
19 April 2018One of the oldest Belarusian insurers B&B Insurance went out of business
The Ministry of Finance of Belarus on April 11 revoked a license of the Open Joint-Stock Insurance Company B&B Insurance Co. The insurer's license was earlier suspended in December of 2017.
16 April 2018MOODY's upgrades Belarus' ratings to B3 from Caa1; outlook remains stable
MOODY's Investors Service (MOODY's) on March 16, 2018 upgraded the Government of Belarus' issuer and senior unsecured ratings to B3 from Caa1. The outlook remains stable.
21 March 2018Belarus: 18% GWP nominal y-o-y growth in January 2018
Belarusian market started 2018 year with January GWP in the amount of BYN 101.5 million (EUR 41.4 million), which is by 18.4% more, in nominal terms, than in January of 2017, as informed by the Ministry of Finance of the Republic of Belarus.
8 March 2018STATISTICS: Belarus, FY2017: insurers' profit increased by 45%
In 2017 GWP of Belarusian insurance companies amounted to BYN 1.05 billion (EUR 446 million), 6.4% more y-o-y. GWP ceded in reinsurance reached BYN 1.03 billion (EUR 437million) against BYN 0.98 billion in 2016, thus 6% increase in 2017.
8 February 2018BELARUS: Fitch upgrades three Belarusian insurers to 'B'
Fitch Ratings has upgraded three state-owned Belarus insurers' Insurer Financial Strength (IFS) Ratings to 'B' from 'B-'. The outlooks are stable, reads the press release of the agency.
7 February 2018STATISTICS: Belarus, 3Q2017: Top-5 insurers generated about 75.98% of the market GWP
In 3Q2017, the Belarusian insurance market recorded a GWP growth of 5.25%, to BYN 780.94 million, mostly driven by the life insurance segment. Claims paid by insurers went down by 0.19% to BYN 393.22 million.
21 November 2017BELARUS: Financial market activity depends on economic recovery
Financial market activity in Belarus depends on the pace of economic
recovery. It is important that the National Bank and the government
should be able to offer a competitive business environment for those
markets. Today 75% of shares of Belarusian OAOs are owned by the state.
The future of the financial market will depend how those shares get to
that market and how they circulate there.
4 October 2017STATISTICS: BELARUS, 1H2017: Life and supplementary pension insurance supported the market growth
In 1H2017, the Belarusian insurance market recorded a market growth by 7.10%, to BYN 524.87 million, mostly driven by the life insurance segment.
21 September 2017BELARUS: Fitch outlooks for three top insurers revised to positive; IFS ratings affirmed at B-
Fitch Ratings has revised the Outlooks on three state-owned Belarus insurers to Positive from Stable while affirming the Insurer Financial Strength (IFS) Ratings at 'B-'. The affected insurers are Belarusian Republican Unitary Insurance Company (Belgosstrakh), Belarusian National Reinsurance Organisation (Belarus Re), Export-Import Insurance Company of the Republic of Belarus (Eximgarant).
10 August 2017STATISTICS: BELARUS, 1Q2017: Pension and life insurance with investment component pushed up the market
In 1Q2017, the Belarusian market reported GWP of BYR 253.95 million, up by 8.07%. The main growth drivers were health, pension and life insurance with investment component, as well as property insurance.
29 June 2017STATISTICS: BELARUS, FY2016: Increasing popularity of life insurance products supports market growth
According to data published by the Ministry of Finance of Belarus, the local insurance market reported aggregated GWP of BYN 971 million, 18% more y-o-y, supported by the life & health insurance (inclusing pensions).
6 April 2017BELARUS: Eximgarant of Belarus, China's Sinosure sign cooperation agreement
Eximgarant of Belarus and the Chinese company Sinosure signed an agreement on cooperation, BelTA has learned.
23 March 2017Bankruptcy insurance security system may appear in BELARUS
The Belarusian parliament proposes to include insurance against bankruptcy in the Labour Code.
12 December 2016STATISTICS: BELARUS, 3Q2016, MoF: Insurance increased almost a quarter y-o-y
Belarusian insurance market totaled BYN 742 million (EUR 343 million) for the first nine months of 2016, 24.2% more y-o-y, according to the MoF market figures. In terms of paid claims, the market authority reported a 14.2% y-o-y increase, the 19 active market players paying almost BYN 394 million (EUR 182 million).
24 November 2016BELARUS: The Banking Sector Moving Towards Modernisation Despite Some Challenges
There are 26 banks, including 21 with foreign capital, operating in Belarus and five foreign institutions have their representative offices in the country, according to the country's National Bank. In January 2016, the banks' aggregate registered authorised capital amounted to 4.5 billion (or €2.2 billion), having increased by 33.4 per cent compared to 2015.
26 October 2016BELARUS expanding insurance services export
Why is it profitable to insure contracts with foreign companies and how does it affect the development of export?
13 October 2016BELARUS: National Bank devising financial market development strategy up to 2020
The National Bank is working on a financial market development strategy
up to 2020, First Deputy Chairman of the Board of the National Bank
Taras Nadolny said at the conference "The Role of the Export-Import
Agency in the Belarusian Economy" on 7 October, BelTA has learned.
13 October 2016STATISTICS: BELARUS, 1H2016: Market growth by 22.7%
According to data provided by the Ministry of Finance of Republic of Belarus, the local insurance market saw a 22.7% positive evolution in GWP terms at the end of the first half of 2016.
22 September 2016Call for faster development of insurance market in Belarus
The Belarusian market of insurance services should grow faster. Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich made the statement during the expanded participation session of the Presidium of the Council of the Republic of the National Assembly on 24 August, BelTA has learned. The session participants discussed the role and tasks of the upper chamber of the Belarusian parliament in implementing the priorities outlined by the main provisions of the 2016-2020 national social and economic development program.
31 August 2016
