Belarus’ insurance cos collect Br1.484bn in premiums in 2020, up 5.7%/yr
<p> </p> <p> MINSK, Feb 12 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 5.7% on the year in January-December 2020 to 1.484 billion Belarusian rubles (Br) ($576.36 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-Dec 2020 stands at Br543.2 million ($211m), unchanged year on year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in 2020 stands at Br940.3 million ($365.2 million), up 9.3% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 63.4% of total revenues in Jan-Dec 2020 (61.3% in Jan-Dec 2019). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br762 million ($296 million) in Jan-Dec 2020, which makes up 51.4% of the total amount of insurance premiums </p> <p> </p> <p> Belarusian insurers paid out Br814.7 million ($316.4 million) in compensations in Jan-Dec 2020, up 14.7% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 54.9% in Jan-Dec 2020, compared with 50.6% in Jan-Dec 2019. Belgosstrakh and Beleximgarant account for 52.6% of the total value of compensation payments. </p> <p> </p> <p> As of Jan 1, 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8.786 as of Jan 1, 2021 compared with 8,859 as of Jan 1, 2020. End (Br2.5748/$1) </p>
2021-02-13
Primepress
Belarus’ insurance cos collect Br1.484bn in premiums in 2020, up 5.7%/yr
MINSK, Feb 12 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 5.7% on the year in January-December 2020 to 1.484 billion Belarusian rubles (Br) ($576.36 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Dec 2020 stands at Br543.2 million ($211m), unchanged year on year.
The total value of voluntary insurance policies sold in 2020 stands at Br940.3 million ($365.2 million), up 9.3% on the year.
Voluntary insurance accounts for 63.4% of total revenues in Jan-Dec 2020 (61.3% in Jan-Dec 2019).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br762 million ($296 million) in Jan-Dec 2020, which makes up 51.4% of the total amount of insurance premiums
Belarusian insurers paid out Br814.7 million ($316.4 million) in compensations in Jan-Dec 2020, up 14.7% year on year.
The compensation to premium ratio reached 54.9% in Jan-Dec 2020, compared with 50.6% in Jan-Dec 2019. Belgosstrakh and Beleximgarant account for 52.6% of the total value of compensation payments.
As of Jan 1, 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8.786 as of Jan 1, 2021 compared with 8,859 as of Jan 1, 2020. End (Br2.5748/$1)