Belarus’ insurance cos collect Br619.9m in premiums in Jan-May 2020, up 7.1%/yr
<p> MINSK, Jul 8 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 7.1% on the year in January-May 2020 to 619.9 million Belarusian rubles (Br) ($253.64 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-May 2020 stands at Br222.9 million ($91.2m), up 3.2% on the year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-May 2020 stands at Br397 million ($162.44 million), up 9.4% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 64% of total revenues in Jan-May 2020 (62.7% in Jan-May 2019). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant account for 51.6% of the total value of insurance premiums collected – Br319.9 million ($130.9m). </p> <p> </p> <p> Belarusian insurers paid out Br319.2 million ($130.6 million) in compensations in Jan-May 2020, up 14.3% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 51.5% in Jan-May 2020, compared with 48.2% in Jan-May 2019. Belgosstrakh and Beleximgarant account for 54% of the total value of compensation payments. </p> <p> </p> <p> As of Jun 1, 2020, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,871 as of Jun 1, 2020 compared with 8,745 as of Jun 1, 2019. End (Br2.444/$1) </p>
2020-07-09
Primepress
Belarus’ insurance cos collect Br619.9m in premiums in Jan-May 2020, up 7.1%/yr
MINSK, Jul 8 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 7.1% on the year in January-May 2020 to 619.9 million Belarusian rubles (Br) ($253.64 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-May 2020 stands at Br222.9 million ($91.2m), up 3.2% on the year.
The total value of voluntary insurance policies sold in Jan-May 2020 stands at Br397 million ($162.44 million), up 9.4% on the year.
Voluntary insurance accounts for 64% of total revenues in Jan-May 2020 (62.7% in Jan-May 2019).
State-owned insurance companies Belgosstrakh and Beleximgarant account for 51.6% of the total value of insurance premiums collected – Br319.9 million ($130.9m).
Belarusian insurers paid out Br319.2 million ($130.6 million) in compensations in Jan-May 2020, up 14.3% year on year.
The compensation to premium ratio reached 51.5% in Jan-May 2020, compared with 48.2% in Jan-May 2019. Belgosstrakh and Beleximgarant account for 54% of the total value of compensation payments.
As of Jun 1, 2020, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,871 as of Jun 1, 2020 compared with 8,745 as of Jun 1, 2019. End (Br2.444/$1)