In 1Q2025, the insurance market in Belarus amounted to BYN 710.46 million (EUR 211.50 million), which in local currency is 12.13% more y-o-y, according to data published by the Ministry of Finance of the Republic of Belarus.

It is worth noting that in euro the market growth rate is even better (+16.90%) thanks to a more favorable exchange rate compared to 1Q2024.

Voluntary insurance (including imputed insurance) in the reporting period amounted to BYN 514.44 million. The share of voluntary insurance in the market premium portfolio has remained almost unchanged and amounts to 72.4%. In the structure of voluntary insurance, the largest shares belong to personal insurance - 45.7% and property insurance - 44.1%.

Mandatory insurance in 1Q2025 amounted to BYN 196.02 million and its share in the market portfolio has also remained almost unchanged at 27.6%. In the structure of mandatory insurance, the largest premiums come from personal insurance - 39.8% and liability insurance - 55.3%.

In the first three months of 2025, insurers' paid claims reached BYN 372.69 million (EUR 110.95 million), of which in voluntary insurance (including imputed insurance) insurers paid BYN 246.4 million (66.1%), in mandatory – BYN 126.3 million (33.9%)

The level of paid claims in total GWP for 1Q2025 has slightly decreased y-o-y and amounted to 52.5% (1Q2024 - 54.5%).

Access xprimm.com and download the latest Belarusian insurance market statistics for 1Q2025 in EUR and BYN.