Insurance companies: results of operations for January- July 2018

For January – July 2018, the insurance companies of the Republic of Belarus received BYN705.2m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – July 2018 against the same period last year made 115.2%.

For January – July 2018, insurance premiums under voluntary classes of business amounted to BYN417.0m, which is BYN65m more against the same period in 2017.

Insurance premiums under compulsory classes of business for January – July 2018 amounted to BYN 288.2m, which is BYN27.9m more as compared with 2017.

The share of voluntary classes of business in the total amount of the insurance premiums is 59.1% (for January- July 2017 was 57.5%).

For January- July 2018, insurance indemnity payments and sums insured as a whole made BYN35.2m,  which is BYN43.4m more than for the similar period of 2017. A proportion of insurance payments in the total sum of insurance premiums for January- July 2018 amounted to 49.9% (for January- July 2017 – 50.4%).

For January-July 2018, the insurance companies paid into the budget as well as to non-budget funds BYN66.8m (for January – July 2017 – 83.1m), where BYN35.5m – taxes and non-taxes payments into the budget; BYN 31.1m – payments into non-budget funds (for January- July 2017 – BYN53.2m and BYN29.9m respectively).

Average number of employees of local insurance companies as of 1 August 2018 amounted to 8,935 people (as at 1 August 2017 – 8,989 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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