Belarusian Insurance Companies: Key Performance Indicators for January- October 2020

For January – October 2020, the insurance companies of the Republic of Belarus received BYN1.1bn of insurance premiums under direct insurance and co-insurance. The growth of receipt for this period compared to a year earlier is 106.4%.

Insurance premiums under voluntary classes of business amounted to BYN694.2m, which is BYN49.2m more against the same period in 2019. The share of voluntary classes of business in the total amount of the insurance premiums is 63.3% (for January- September 2019 was 62.6%).

Insurance premiums under compulsory classes of business for January – September amounted to BYN402.8m, which is BYN17m more as compared with nine months of 2019.

For January- September 2020, insurance indemnity payments and sums insured as a whole amounted to BYN577.8m,  which is BYN63m more than for the similar period of 2019. A proportion of insurance payments in the total sum of insurance premiums for January- September amounted to 52.7% (for January- September 2019 – 49.9%).

For the 1half-year, the insurance companies paid into the budget as well as to non-budget funds BYN90.8m (for nine months 2019 -BYN 93.3m),

Average number of employees of local insurance companies as of 1 October 2020 amounted to 8,862 people (as at 1 October 2019 – 8,794 people).

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