Insurance companies: results of operations for January- August 2018

For January – August 2018, the insurance companies of the Republic of Belarus received BYN804.9m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – August 2018 against the same period last year made 115.5%.

For January – August 2018, insurance premiums under voluntary classes of business amounted to BYN479.4m, which is BYN77.7m more against the same period in 2017.

Insurance premiums under compulsory classes of business for January – August 2018 amounted to BYN 325.5m, which is BYN30.2m more as compared with 2017.

The share of voluntary classes of business in the total amount of the insurance premiums is 59.6% (for January- August 2017 was 57.6%).

For January- August 2018, insurance indemnity payments and sums insured as a whole made BYN401.5m,  which is BYN48.8m more than for the similar period of 2017. A proportion of insurance payments in the total sum of insurance premiums for January- August 2018 amounted to 49.9% (for January- August 2017 – 50.6%).

For January- August 2018, the insurance companies paid into the budget as well as to non-budget funds BYN71.8m (for January – August 2017 – 88.9m), where BYN36.8m – taxes and non-taxes payments into the budget; BYN 35.0m – payments into non-budget funds (for January- August 2017 – BYN54.7m and BYN34.2m respectively).

Average number of employees of local insurance companies as of 1 September 2018 amounted to 8,941 people (as at 1 September 2017 – 8,994 people).

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

http://www.minfin.gov.by

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