Belarus’ insurance cos collect Br1.229bn in premiums in Jan-Oct 2020, up 7.6%/yr
<p> MINSK, Dec 11 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 7.6% on the year in January-October 2020 to Br1.229 billion Belarusian rubles (Br) ($482.4 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-Oct 2020 stands at Br456.7 million ($179.3m), up 5% on the year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-Oct 2020 stands at Br772.1 million ($303.1 million), up 9.2% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 62.8% of total revenues in Jan-Oct 2020 (61.9% in Jan-Oct 2019). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br636.3 million ($249.8 million) in Jan-Oct 2020, which makes up 51.8% of the total amount of insurance premiums </p> <p> </p> <p> Belarusian insurers paid out Br650.7 million ($255.4 million) in compensations in Jan-Oct 2020, up 9.2% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 53% in Jan-Oct 2020, compared with 50.9% in Jan-Oct 2019. Belgosstrakh and Beleximgarant account for 53% of the total value of compensation payments. </p> <p> </p> <p> As of Nov 1, 2020, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8.849 as of Nov 1, 2020 compared with 8,812 as of Nov 1, 2019. End (Br2.5476/$1) </p>
2020-12-12
Primepress
Belarus’ insurance cos collect Br1.229bn in premiums in Jan-Oct 2020, up 7.6%/yr
MINSK, Dec 11 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 7.6% on the year in January-October 2020 to Br1.229 billion Belarusian rubles (Br) ($482.4 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Oct 2020 stands at Br456.7 million ($179.3m), up 5% on the year.
The total value of voluntary insurance policies sold in Jan-Oct 2020 stands at Br772.1 million ($303.1 million), up 9.2% on the year.
Voluntary insurance accounts for 62.8% of total revenues in Jan-Oct 2020 (61.9% in Jan-Oct 2019).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br636.3 million ($249.8 million) in Jan-Oct 2020, which makes up 51.8% of the total amount of insurance premiums
Belarusian insurers paid out Br650.7 million ($255.4 million) in compensations in Jan-Oct 2020, up 9.2% year on year.
The compensation to premium ratio reached 53% in Jan-Oct 2020, compared with 50.9% in Jan-Oct 2019. Belgosstrakh and Beleximgarant account for 53% of the total value of compensation payments.
As of Nov 1, 2020, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8.849 as of Nov 1, 2020 compared with 8,812 as of Nov 1, 2019. End (Br2.5476/$1)