Belarus’ insurance cos collect Br1.32bn in premiums in Jan-Sep 2021, up 20.3%/yr
<p> MINSK, Nov 4 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 20.3% on the year in Jan-Sep 2021 to Br1.32 billion ($536.2 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-Sep 2021 stands at Br439.1 million ($178.4m), up 9% year on year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-Sep 2021 stands at Br880.6 million ($357.7 million), up 26.9% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 66.7% of total revenues in Jan-Sep 2021 (63.3% in Jan-Sep 2020). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br689.6 million ($280.1 million) in Jan-Sep 2021, which makes up 52.2% of the total amount of insurance premiums. </p> <p> </p> <p> Belarusian insurers paid out Br768.8 million ($312.3 million) in compensations in Jan-Sep 2021, up 33.1% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 58.3% in Jan-Sep 2021, compared with 52.7% in Jan-Sep 2020. Belgosstrakh and Beleximgarant account for 47.3% of the total value of compensation payments. </p> <p> </p> <p> As of 1 Oct 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,822 as of 1 Oct 2021 compared with 8,862 as of 1 Oct 2020. End (Br2.4618/$1) </p>
2021-11-05
Primepress
Belarus’ insurance cos collect Br1.32bn in premiums in Jan-Sep 2021, up 20.3%/yr
MINSK, Nov 4 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 20.3% on the year in Jan-Sep 2021 to Br1.32 billion ($536.2 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Sep 2021 stands at Br439.1 million ($178.4m), up 9% year on year.
The total value of voluntary insurance policies sold in Jan-Sep 2021 stands at Br880.6 million ($357.7 million), up 26.9% on the year.
Voluntary insurance accounts for 66.7% of total revenues in Jan-Sep 2021 (63.3% in Jan-Sep 2020).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br689.6 million ($280.1 million) in Jan-Sep 2021, which makes up 52.2% of the total amount of insurance premiums.
Belarusian insurers paid out Br768.8 million ($312.3 million) in compensations in Jan-Sep 2021, up 33.1% year on year.
The compensation to premium ratio reached 58.3% in Jan-Sep 2021, compared with 52.7% in Jan-Sep 2020. Belgosstrakh and Beleximgarant account for 47.3% of the total value of compensation payments.
As of 1 Oct 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,822 as of 1 Oct 2021 compared with 8,862 as of 1 Oct 2020. End (Br2.4618/$1)