Belarus
STATISTICS: BELARUS, 1H2020: Growth of paid claims more than twice outpaced GWP growth
The insurance market of Belarus completed 1H2020 with an increase of 6.93%, GWP amounted to BYN 737.7 (~EUR 272.8 million*). At the same time, the growth rate of paid claims has outpaced GWP growth by more than two times (+14.86%), according to the data, published by the Ministry of Finance of the Republic.
17 September 2020BELARUS: for the first five months of 2020, the market share of voluntary insurance reached 64%
From January to May 2020, Belarusian insurers generated GWP worth BYN 619.9 million (~EUR 231.55 million*), which is 7.1% more y-o-y, according to the data of the Ministry of Finance of the Republic.
16 July 2020BELARUS: Insurers will be obliged to invest at least 35% of their reserves in government securities
Recent amendments to the rules for investing insurance reserves have been made in the Republic of Belarus. The corresponding decree of the Council of Ministers d/d June 23, 2020 was published on the National legal internet portal, BELTA news agency reported.
2 July 2020STATISTICS: BELARUS, 1Q2020: paid claims ratio went up exceeding 50%
In 1Q2020, the GWP of Belarusian insurance market amounted to BYN 379.9 million (~EUR 132 million*), in local currency reflecting an increase of 13% year-on-year, while in European currency the market growth rate was negative (-6.3%), as the data published by the Ministry of Finance show.
18 June 2020BELARUS: ERGO was advised on the sale of its Belarusian branch by Sorainen
Sorainen, a fully integrated regional business law firm with offices throughout the region (in Estonia, Latvia, Lithuania, and Belarus), has advised ERGO Group on the sale of its non-life subsidiary in Belarus to the EUROINS Group, as CEE Legal Matters informed.
9 June 2020STATISTICS: BELARUS, FY2019: over 60% of all paid claims came from voluntary insurance lines
In 2019, the GWP of the Belarusian market amounted to BYN 1,403.4 million (~EUR 596.6 million), which is almost 14.5% more y-o-y in local currency. It's worth noting that the market growth rate remained mainly at the same level as a year before (+14.6% in 2018), maintaining its upward trajectory, the latest data from the Ministry of Finance of the Republic show.
14 May 2020BELARUS: EXIMGARANT affirmed at IFS 'B', outlook stable
Fitch Ratings affirmed insurer financial strength rating of the Belarussian insurance company - EXIMGARANT at 'B' with stable outlook, according to the agency's report, published on May 05.
7 May 2020EIG entered Belarus upon completion of the acquisition of a unit of Germany's ERGO
Bulgaria-based EUROINS Insurance Group (EIG) announced it completed the acquisition of RGO Belarus - a non-life subsidiary of Germany-based ERGO, part of MUNICH Re, after obtaining regulatory approvals from Ministry of Antimonopoly Regulation and Trade (MART) and Ministry of Finance.
6 May 2020BELARUS: BELGOSSTRAKH affirmed at IFS 'B', outlook stable
Fitch Ratings affirmed insurer financial strength rating of the leading Belarussian insurance company - BELGOSSTRAKH at 'B' with stable outlook, according to the agency's report, published on April 30.
5 May 2020BELARUS: 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 2019
