Belarusian Insurance Companies: Key Performance Indicators as at 1 December 2020

For January – November 2020, the insurance companies of the Republic of Belarus received BYN1, 357.7m of insurance premiums under direct insurance and co-insurance. The growth of receipt for this period compared to a year earlier is 108.8%.

For January – November 2020, insurance premiums under voluntary classes of business amounted to BYN860.5m, which is BYN87.0m more against the same period in 2019.

Insurance premiums under compulsory classes of business for January – November 2020 amounted to BYN497.2m, which is BYN23.2m more as compared with the similar period of 2019.

The share of voluntary classes of business in the total amount of the insurance premiums is 63.4% (for January- November 2019 was 62.0%).

For January- November 2020, insurance indemnity payments and sums insured as a whole amounted to BYN725.5m,  which is BYN86.1m more than for the similar period of 2019. A proportion of insurance payments in the total sum of insurance premiums for January-November amounted to 53.4% (for January- November 2019 – 51.3%).

For January-November 2020, the insurance companies paid into the budget as well as to non-budget funds BYN116.1m (for January-November 2019 -BYN 114.0m), where taxes and non-tax payments – BYN 62.1m; non-budget funds payments – BYN54.0 (for January-November 2019: BYN 61.5m and BYN 52.5m respectively)

Average number of employees of local insurance companies as of 1 December 2020 amounted to 8,813 people (as at 1 December 2019 – 8,841 people).

http://www.minfin.gov.by/

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