Insurance companies: results of operations for January-December 2016

For January – December 2016, the insurance companies of the Republic of Belarus received 971.9 million roubles of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – December 2016 against the same period in 2015 made 118.1%.

For January – December 2016, insurance premiums under voluntary classes of business amounted to 542.1 million roubles, which is 113.5 million roubles more against the same period in 2015.

Insurance premiums under compulsory classes of business for January – December 2016 amounted to 429.8 million roubles, which is 35.7 million roubles more as compared with the same period in 2015.

The percentage of voluntary classes of business in the total amount of insurance premiums is 55.8% (for January- December 2015 was 52.1%)

For January – December 2016, insurance indemnity payments and insurance payment coverage in total across the republic made 537.4 million roubles and exceeded this indicator for the similar period of 2015 by 64.8 million roubles. A proportion of insurance payments in the total sum of insurance premiums for January- December 2016 amounted to 55.3% (for 2015 – 57.4%).

For January – December 2016, the insurance companies paid 111.7 million roubles to the budget and non-budget funds (for January – December 2015 – 144.8 million roubles), including 65.6 million roubles as taxes and non-taxes payments to the budget, 46.1 million roubles as payments to the non-budget funds (for January-December 2015 – 96.0 million roubles and 48.8 million roubles respectively).

Average number of employees of the insurance companies as at 1 January 2017 amounted to 9,075 people (as at 1 January 2016 – 9,173 people).

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

http://minfin.gov.by

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