Belarus
STATISTICS: BELARUS, 1H2024: premiums grew almost twice as fast as paid claims
At the end of the first half of 2024, the insurance sector of Belarus amounted to BYN 1,267.85 million (EUR 374.87 million), which is 15.50% more y-o-y in local currency, as the data published by the Ministry of Finance of the Republic of Belarus show.
4 September 2024BELARUS: insurance organizations have been determined to pay for Belarus' share in the Eurasian Reinsurance Company
The Resolution of the Council of Ministers d/d August 20 determined in 2024 the organizations authorized to pay for Belarus' share in the charter capital of the Eurasian Reinsurance Company, BELTA reports with reference to the National Legal Internet Portal.
29 August 2024BELARUS: From October 1, 2024, the Russian MTPL policy to be valid in Belarus
From October 1, 2024, the Russian MTPL policy will be valid in Belarus, as announced by Russian Prime Minister Mikhail Mishustin, BELTA reports.
21 August 2024BELARUS: in January-May the market rises 15.5%
For January-May 2024, the insurance sector of Belarus amounted to BYN 1,060.4 million (~EUR 0.30 billion), which is 15.5% more y-o-y, the Ministry of Finance reports.
8 July 2024STATISTICS: BELARUS, 1Q2024: voluntary insurance generates over 72% of all premiums
At the end of 1Q2024, the insurance sector of Belarus amounted to BYN 633.59 million (EUR 180.93 million), which is 17% more y-o-y, as shown by data published by the Ministry of Finance of the Republic of Belarus.
21 May 2024STATISTICS: BELARUS, FY2023: voluntary insurance generates over 65% of the total premiums
In 2023, total GWP of insurance organizations amounted to BYN 2,215.8 million (EUR 626.60 million), which is 20.42% more y-o-y, according to data published by the Ministry of Finance of the Republic of Belarus.
9 April 2024BELARUS: a growing trend in new car sales on the market
For the first time in the last four years, there has been a trend towards increasing sales of new cars on the Belarusian market. Thus, in 2023, car dealers sold 25,408 cars, which is 47.5% more y-o-y, Insurance in Belarus magazine wrote.
26 March 2024BELARUS: More than 670 thousand people became users of the new mobile application of the Social Protection Fund
Over 670 thousand people have become users of the new Social Protection Fund’s mobile application,
7 February 2024BELARUS: The draft law "On Insurance" introduces a new form of insurance - imputed insurance
The draft law "On Insurance ", which was adopted by deputies in the second reading, provides for introduction of a new form of insurance - imputed insurance, BELTA reports.
12 December 2023BELARUS: The unified MTPL system of Russia and Belarus to be launched before October 1, 2024
The unified MTPL system of the Union State is planned to be launched before October 1, 2024, as reported by the press service of the Parliamentary Assembly of the Union of Belarus and Russia following the meeting of the Parliamentary Assembly Commission on Legislation and Regulations held on November 30 in Minsk, BELTA writes.
5 December 2023STATISTICS: BELARUS, 3Q2023: voluntary insurance accounts for 67% of GWP and paid claims
For 9M2023, total GWP of the insurance sector amounted to BYN 1,642.75 million (EUR 474.15 million), which is 20.93% more y-o-y, as follows from data published by the Ministry of Finance of the Republic. It is noteworthy that due to significant changes in exchange rates, the market result in euros was negative (-16.38%),
27 November 2023BELARUS: the draft law “On Insurance Activities” adopted in the first reading
The draft law “On Insurance Activities” was adopted in the first reading, BELTA reports.
19 October 2023STATISTICS: BELARUS, 1H2023: the level of paid claims in the total premiums decreased to 59%
In January-June 2023, total GWP of the insurance sector of the republic amounted to BYN 1,097.74 million (EUR 331.66 million), which indicates an increase of 20.18% y-o-y in local currency, according to data published by the Ministry of Finance of Belarus. While in euros the market result was negative (-3.31%).
6 September 2023BELARUS: the new law to become the fundamental document regulating insurance activities
Belarus plans to change the regulation in the field of insurance (currently, insurance activities are regulated by decrees of the President of the Republic of Belarus), which is designed to ensure consistency, complexity, and stability of insurance activities, BELTA reports. The draft law will soon be submitted to the House of Representatives.
1 August 2023BELARUS: 13 more countries added to the list of countries where Belarus Green Card policies are not valid
Since June 1, Belarus relations in the Green Card insurance system have been ceased with more than 30 countries, now 13 more countries have been added to this list, Sputnik writes.
21 June 2023STATISTICS: BELARUS, 1Q2023: the level of paid claims in the total GWP exceeds 61%
In 1Q2023 the insurance sector grew by 13.51% to BYN 541.16 million (EUR 174.40 million). At that, non-life supported the market up-trend, while life insurance fell by almost 16% y-o-y, according to data published by the Ministry of Finance of the republic.
30 May 2023BELARUS: from June 1, Belarusian car owners won't be able to use Green Card policies
From June 1, 2023, car owners from Belarus won't be able to use Green Card international insurance policies when traveling to the European Union, Great Britain, and Switzerland, BELTA reports.
11 May 2023STATISTICS: BELARUS, FY2022: GWP grew by 6.6%, while assets - by 20%
In 2022 total GWP of the insurance sector amounted to BYN 1,840.1 million (EUR 631.13 million), which is 6.6% more y-o-y, according to data published by the Ministry of Finance of the Republic.
27 April 2023BELARUS: last year insurers had record payments
2022 was not an easy year for the Belarusian insurance sector, the market growth was about 5%, which is the lowest in the last decade. At the same time, some insurance companies saw growth from 10 to 30% y-o-y. Others, on the contrary, recorded a drop in growth, as Irina MERZLYAKOVA General Director Belarusian Association of Insurers said.
20 April 2023BELARUS: creation of the Eurasian Reinsurance Company to provide additional insurance capacity of about USD 2 billion
The draft law "On Ratification of the Agreement on creation of the Eurasian Reinsurance Company" is being prepared for consideration in the House of Representatives in March.
23 March 2023
