Belarus’ insurance cos collect Br1.181bn in premiums in Jan-Aug 2021, up 20.5%/yr
<p> MINSK, Oct 1 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 20.5% on the year in Jan-Aug 2021 to Br1.181 billion ($469.84 million at the NBB rate), the Belarusian Finance Ministry said in a release. </p> <p> </p> <p> The total value of mandatory insurance policies sold in Jan-Aug 2021 stands at Br393.5 million ($156.55m), up 9.4% year on year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-Aug 2021 stands at Br787.5 million ($313.3 million), up 26.9% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 66.7% of total revenues in Jan-Aug 2021 (63.3% in Jan-Aug 2020). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br621.23 million ($247.15 million) in Jan-Aug 2021, which makes up 52.6% of the total amount of insurance premiums. </p> <p> </p> <p> Belarusian insurers paid out Br676.5 million ($269.14 million) in compensations in Jan-Aug 2021, up 32% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 57.3% in Jan-Aug 2021, compared with 52.3% in Jan-Aug 2020. Belgosstrakh and Beleximgarant account for 47.9% of the total value of compensation payments. </p> <p> </p> <p> As of 1 Sep 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,850 as of 1 Sep 2021 compared with 8,865 as of 1 Sep 2020. End (Br2.5136/$1) </p> <p> </p>
2021-10-02
Primepress
Belarus’ insurance cos collect Br1.181bn in premiums in Jan-Aug 2021, up 20.5%/yr
MINSK, Oct 1 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 20.5% on the year in Jan-Aug 2021 to Br1.181 billion ($469.84 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Aug 2021 stands at Br393.5 million ($156.55m), up 9.4% year on year.
The total value of voluntary insurance policies sold in Jan-Aug 2021 stands at Br787.5 million ($313.3 million), up 26.9% on the year.
Voluntary insurance accounts for 66.7% of total revenues in Jan-Aug 2021 (63.3% in Jan-Aug 2020).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br621.23 million ($247.15 million) in Jan-Aug 2021, which makes up 52.6% of the total amount of insurance premiums.
Belarusian insurers paid out Br676.5 million ($269.14 million) in compensations in Jan-Aug 2021, up 32% year on year.
The compensation to premium ratio reached 57.3% in Jan-Aug 2021, compared with 52.3% in Jan-Aug 2020. Belgosstrakh and Beleximgarant account for 47.9% of the total value of compensation payments.
As of 1 Sep 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,850 as of 1 Sep 2021 compared with 8,865 as of 1 Sep 2020. End (Br2.5136/$1)