Belarus’ insurance cos collect Br734.7m in premiums in Jan-May 2021, up 18.5%/yr
<p> MINSK, Jul 1 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 18.5% on the year in Jan-May 2021 to 734.7 million Belarusian rubles (Br) ($236.58 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 2021 stands at Br241.4 million ($73.16m), up 8.3% year on year. </p> <p> </p> <p> The total value of voluntary insurance policies sold in Jan-May 2021 stands at Br493.3 million ($163.42 million), up 24.3% on the year. </p> <p> </p> <p> Voluntary insurance accounts for 67.1% of total revenues in Jan-May 2021 (64% in Jan-May 2020). </p> <p> </p> <p> State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br373.822 million ($119.25 million) in Jan-May 2021, which makes up 50.9% of the total amount of insurance premiums. </p> <p> </p> <p> Belarusian insurers paid out Br413.7 million ($132.41 million) in compensations in Jan-May 2021, up 29.6% year on year. </p> <p> </p> <p> The compensation to premium ratio reached 56.3% in Jan-May 2021, compared with 51.5% in Jan-May 2020. Belgosstrakh and Beleximgarant account for 45.6% of the total value of compensation payments. </p> <p> </p> <p> As of Jun 1, 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,812 as of June 1, 2021 compared with 8,871 as of June 1, 2020. End (Br2.5383/$1) </p>
2021-07-02
Primepress
Belarus’ insurance cos collect Br734.7m in premiums in Jan-May 2021, up 18.5%/yr
MINSK, Jul 1 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 18.5% on the year in Jan-May 2021 to 734.7 million Belarusian rubles (Br) ($236.58 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-May 2021 stands at Br241.4 million ($73.16m), up 8.3% year on year.
The total value of voluntary insurance policies sold in Jan-May 2021 stands at Br493.3 million ($163.42 million), up 24.3% on the year.
Voluntary insurance accounts for 67.1% of total revenues in Jan-May 2021 (64% in Jan-May 2020).
State-owned insurance companies Belgosstrakh and Beleximgarant together collected Br373.822 million ($119.25 million) in Jan-May 2021, which makes up 50.9% of the total amount of insurance premiums.
Belarusian insurers paid out Br413.7 million ($132.41 million) in compensations in Jan-May 2021, up 29.6% year on year.
The compensation to premium ratio reached 56.3% in Jan-May 2021, compared with 51.5% in Jan-May 2020. Belgosstrakh and Beleximgarant account for 45.6% of the total value of compensation payments.
As of Jun 1, 2021, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,812 as of June 1, 2021 compared with 8,871 as of June 1, 2020. End (Br2.5383/$1)