STATISTICS: BELARUS, 3Q2022: market growth was only about 3% y-o-y

1 December 2022 — Marina MAGNAVAL
STATISTICS:  BELARUS, 3Q2022: market growth was only about 3% y-o-y
For 9 months of 2022, total GWP of Belarusian insurers amounted to BYN 1,358.45 million (EUR 567.06 million). The y-o-y increase was only about 3%, according to data published by the Ministry of Finance of the Republic.

GWP in voluntary insurance for the period amounted to BYN 889.7 million. The share of voluntary insurance in the total market portfolio slightly decreased to 65.5% (for 9 months of 2021 - 66.7%). In the structure of voluntary premiums, the largest shares belong to personal insurance - 45.9% and property insurance - 45.7%.

GWP in compulsory insurance amounted to BYN 468.8 million. The share of compulsory insurance in the total market volume increased slightly to 34.5% (for 9 months of 2021 - 33.3%). In the structure of compulsory premiums, the largest shares belong to personal insurance - 44.8% and liability insurance - 48.5%.

For 9 months of 2022, paid claims in the republic amounted to BYN 894.60 million (EUR 373.44 million), of which 68.3% are for voluntary insurance, and 31.7% - for compulsory insurance. At the same time, the level of paid claims in the total amount of premiums for the period increased to 65.9% (for 9 months of 2021 - 58.3%).

Access xprimm.com and download the latest Belarusian insurance market statistics for 3Q2022.



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