Belarus’ insurance cos collect Br1.445bn in premiums in Jan-Oct 2021, up 17.6%/yr
<p> MINSK, Nov 30 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 17.6% on the year in Jan-Oct 2021 to Br1.445 billion ($565.557 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 2021 stands at Br496.2 million ($194.2m), up 8.6% year on year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-Oct 2021 stands at Br949.2 million ($371.5 million), up 22.9% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 65.7% of total revenues in Jan-Oct 2021 (62.8% in Jan-Oct 2020). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br756.8 million ($296.2 million) in Jan-Oct 2021, which makes up 52.3% of the total amount of insurance premiums. </p> <p> </p> <p> Belarusian insurers paid out Br852.4 million ($333.6 million) in compensations in Jan-Oct 2021, up 31% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 59% in Jan-Oct 2021, compared with 53% in Jan-Oct 2020. Belgosstrakh and Beleximgarant account for 45.4% of the total value of compensation payments. </p> <p> </p> <p> As of 1 Nov 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,784 as of 1 Nov 2021 compared with 8,849 as of 1 Nov 2020. End (Br2.555/$1) </p> <p> </p>
2021-12-01
Primepress
Belarus’ insurance cos collect Br1.445bn in premiums in Jan-Oct 2021, up 17.6%/yr
MINSK, Nov 30 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 17.6% on the year in Jan-Oct 2021 to Br1.445 billion ($565.557 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Oct 2021 stands at Br496.2 million ($194.2m), up 8.6% year on year.
The total value of voluntary insurance policies sold in Jan-Oct 2021 stands at Br949.2 million ($371.5 million), up 22.9% on the year.
Voluntary insurance accounts for 65.7% of total revenues in Jan-Oct 2021 (62.8% in Jan-Oct 2020).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br756.8 million ($296.2 million) in Jan-Oct 2021, which makes up 52.3% of the total amount of insurance premiums.
Belarusian insurers paid out Br852.4 million ($333.6 million) in compensations in Jan-Oct 2021, up 31% year on year.
The compensation to premium ratio reached 59% in Jan-Oct 2021, compared with 53% in Jan-Oct 2020. Belgosstrakh and Beleximgarant account for 45.4% of the total value of compensation payments.
As of 1 Nov 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,784 as of 1 Nov 2021 compared with 8,849 as of 1 Nov 2020. End (Br2.555/$1)