STATISTICS: BELARUS, 1Q2022: market growth was about 6% y-o-y (in local currency)

8 June 2022 — Marina MAGNAVAL
In the first quarter of 2022, GWP of the Belarusian insurance sector reached BYN 476.76 million (EUR 144.11 million), up only 6.22% y-o-y in local currency, according to data released by the Belarusian Ministry of Finance.

Voluntary insurance for the first three months amounted to BYN 339.5 million. The share of voluntary insurance in the total portfolio slightly decreased to 71.2% (vs 72.3% a year earlier). In the structure of voluntary insurance, personal insurance accounts for 48%, property insurance - 42.9%.

Mandatory insurance amounted to BYN 137.3 million. The share of mandatory insurance in the total market volume slightly increased to 28.8% (vs 27.7%). In the structure of mandatory insurance, personal insurance accounts for 35.7%, liability insurance - 56.3%.

By the end of the first quarter, total paid claims amounted to BYN 273.73 million, of which BYN 184 million (67.2%) fell on voluntary insurance, BYN 89.7 million (32.8%) - on mandatory insurance.

Of the 16 insurance companies, BELGOSSTRAKH continues to lead in terms of GWP (BYN 216.05 million), PROMTRANSINVEST moved to fourth place, losing second to BELNEFTESTRAKH.

Access and download the latest Belarusian insurance market statistics.

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