Insurance companies: results of operation for January – August 2020

For January – August 2020, the insurance companies of the Republic of Belarus received BYN 980.4m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – August 2020 against the same period last year made 106.2%.

For January – August 2020, insurance premiums under voluntary classes of business amounted to BYN 620.7 m, which is BYN 45.6m more against the same period in 2019.

Insurance premiums under compulsory classes of business for January – August 2020 amounted to BYN 359.7m, which is BYN 11.9m more as compared with 2019.

The share of voluntary classes of business in the total amount of the insurance premiums is 63.3% (for January- August 2019 was 62.3%).

For January- August 2020, insurance indemnity payments and sums insured as a whole made BYN 512.5m,  which is BYN 55.0 m more than for the same period of 2019. A proportion of insurance payments in the total sum of insurance premiums for January- August 2020 amounted to 52.3% (for January- August 2019 – 49.6%).

For January- August 2020, the insurance companies paid into the budget as well as to non-budget funds BYN 81.8 m (for January – August 2019 – 86.2 m), where BYN 42.5 m – taxes and non-taxes payments into the budget; BYN 39.3m – payments into non-budget funds (for January- August 2019 – BYN 46.9 m and BYN 39.3 m respectively).

Average number of employees of local insurance companies as of 1 September 2020  amounted to 8,865people (as at 1 September 2019 – 8,772 people).

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

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