Belarus
BELARUS: in January-October, the share of voluntary insurance on the market increased to 67%
In January-October 2024, total GWP of insurance organizations of the republic amounted to BYN 2,166.1 million (~EUR 0.61 billion), which is 18.9% more y-o-y, according to the Ministry of Finance of the Republic of Belarus.
9 December 2024BELARUS: Unified motor insurance system to start operating on January 1, 2025
A unified motor insurance system will start operating in the Union State on January 1, 2025, according to the amendments to the federal law "On compulsory motor third party liability insurance of vehicle owners", which were adopted on November 27 by the Federation Council of the Federal Assembly of Russia, BELTA reports.
3 December 2024STATISTICS: BELARUS, 3Q2024: voluntary insurance generates over 67% of premiums and paid claims
At the end of 3Q2024, the insurance sector of Belarus amounted to BYN 1,929.51 million (EUR 538.31 million), which is 17.46% more y-o-y in local currency, according to data published by the Ministry of Finance of the Republic of Belarus.
26 November 2024BELARUS: Declaration of intent to develop Belarusian-Chinese relations in the insurance sector was signed during a business visit
Belarusian insurers are entering the Chinese market - the first practical step on this path was a business visit of the BAS (Belarusian Association of Insurers) delegation to China, Dalian, on October 14-19, 2024.
25 November 2024BELARUS: in January-August, voluntary insurance in total premiums amounted to about 67%
In the first 8 months of this year, the market in Belarus amounted to BYN 1,691.9 million (~EUR 0.48 billion), which is 15.4% more y-o-y in national currency, as reported by the Ministry of Finance of the Republic of Belarus.
9 October 2024BELARUS: from January to July, paid claims in the total GWP amounted to 55.8%
For the period from January to July 2024, the insurance market in Belarus amounted to BYN 1,491.5 million (~EUR 0.42 billion), as reported by the Ministry of Finance of the Republic of Belarus. It is noted that the market grew by 16.4% y-o-y.
18 September 2024STATISTICS: BELARUS, 1H2024: premiums grew almost twice as fast as paid claims
At the end of the first half of 2024, the insurance sector of Belarus amounted to BYN 1,267.85 million (EUR 374.87 million), which is 15.50% more y-o-y in local currency, as the data published by the Ministry of Finance of the Republic of Belarus show.
4 September 2024BELARUS: insurance organizations have been determined to pay for Belarus' share in the Eurasian Reinsurance Company
The Resolution of the Council of Ministers d/d August 20 determined in 2024 the organizations authorized to pay for Belarus' share in the charter capital of the Eurasian Reinsurance Company, BELTA reports with reference to the National Legal Internet Portal.
29 August 2024BELARUS: From October 1, 2024, the Russian MTPL policy to be valid in Belarus
From October 1, 2024, the Russian MTPL policy will be valid in Belarus, as announced by Russian Prime Minister Mikhail Mishustin, BELTA reports.
21 August 2024BELARUS: in January-May the market rises 15.5%
For January-May 2024, the insurance sector of Belarus amounted to BYN 1,060.4 million (~EUR 0.30 billion), which is 15.5% more y-o-y, the Ministry of Finance reports.
8 July 2024STATISTICS: BELARUS, 1Q2024: voluntary insurance generates over 72% of all premiums
At the end of 1Q2024, the insurance sector of Belarus amounted to BYN 633.59 million (EUR 180.93 million), which is 17% more y-o-y, as shown by data published by the Ministry of Finance of the Republic of Belarus.
21 May 2024STATISTICS: BELARUS, FY2023: voluntary insurance generates over 65% of the total premiums
In 2023, total GWP of insurance organizations amounted to BYN 2,215.8 million (EUR 626.60 million), which is 20.42% more y-o-y, according to data published by the Ministry of Finance of the Republic of Belarus.
9 April 2024BELARUS: a growing trend in new car sales on the market
For the first time in the last four years, there has been a trend towards increasing sales of new cars on the Belarusian market. Thus, in 2023, car dealers sold 25,408 cars, which is 47.5% more y-o-y, Insurance in Belarus magazine wrote.
26 March 2024BELARUS: More than 670 thousand people became users of the new mobile application of the Social Protection Fund
Over 670 thousand people have become users of the new Social Protection Fund’s mobile application,
7 February 2024BELARUS: The draft law "On Insurance" introduces a new form of insurance - imputed insurance
The draft law "On Insurance ", which was adopted by deputies in the second reading, provides for introduction of a new form of insurance - imputed insurance, BELTA reports.
12 December 2023BELARUS: The unified MTPL system of Russia and Belarus to be launched before October 1, 2024
The unified MTPL system of the Union State is planned to be launched before October 1, 2024, as reported by the press service of the Parliamentary Assembly of the Union of Belarus and Russia following the meeting of the Parliamentary Assembly Commission on Legislation and Regulations held on November 30 in Minsk, BELTA writes.
5 December 2023STATISTICS: BELARUS, 3Q2023: voluntary insurance accounts for 67% of GWP and paid claims
For 9M2023, total GWP of the insurance sector amounted to BYN 1,642.75 million (EUR 474.15 million), which is 20.93% more y-o-y, as follows from data published by the Ministry of Finance of the Republic. It is noteworthy that due to significant changes in exchange rates, the market result in euros was negative (-16.38%),
27 November 2023BELARUS: the draft law “On Insurance Activities” adopted in the first reading
The draft law “On Insurance Activities” was adopted in the first reading, BELTA reports.
19 October 2023STATISTICS: BELARUS, 1H2023: the level of paid claims in the total premiums decreased to 59%
In January-June 2023, total GWP of the insurance sector of the republic amounted to BYN 1,097.74 million (EUR 331.66 million), which indicates an increase of 20.18% y-o-y in local currency, according to data published by the Ministry of Finance of Belarus. While in euros the market result was negative (-3.31%).
6 September 2023BELARUS: the new law to become the fundamental document regulating insurance activities
Belarus plans to change the regulation in the field of insurance (currently, insurance activities are regulated by decrees of the President of the Republic of Belarus), which is designed to ensure consistency, complexity, and stability of insurance activities, BELTA reports. The draft law will soon be submitted to the House of Representatives.
1 August 2023
