Insurance companies: results of operation for January – August 2019

For January – August 2019, the insurance companies of the Republic of Belarus received BYN 922.9m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – August 2019 against the same period last year made 115.5%.

For January – August 2019, insurance premiums under voluntary classes of business amounted to BYN 575.1 m, which is BYN 95.7m more against the same period in 2018.

Insurance premiums under compulsory classes of business for January – August 2019 amounted to BYN 347.8m, which is BYN 22.3m more as compared with 2018.

The share of voluntary classes of business in the total amount of the insurance premiums is 62.3% (for January- August 2018 was 59.6%).

For January- August 2019, insurance indemnity payments and sums insured as a whole made BYN 457.5m,  which is BYN 56 m more than for the similar period of 2018. A proportion of insurance payments in the total sum of insurance premiums for January- August 2019 amounted to 49.6% (for January- August 2018 – 49.9%).

For January- August 2019, the insurance companies paid into the budget as well as to non-budget funds BYN 86.2 m (for January – August 2018 – 72.6 m), where BYN 46.9 m – taxes and non-taxes payments into the budget; BYN 39.3m – payments into non-budget funds (for January- August 2018 – BYN 37.3 m and BYN 35.3 m respectively).

Average number of employees of local insurance companies as of 1 September 2019 amounted to 8,772 people (as at 1 September 2018 – 8,941 people).

The data were prepared using the web-site of the Ministry of Finance of the Republic of Belarus

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