Insurance companies: results of operations for January- June 2018

For January – June 2018, the insurance companies of the Republic of Belarus received BYN607.2m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – June 2018 against the same period last year made 115.7%.

For January – June 2018, insurance premiums under voluntary classes of business amounted to BYN364.5m, which is BYN56.5m more against the same period in 2017. Insurance premiums under compulsory classes of business for January – June 2018 amounted to BYN 242.7m, which is BYN25.8m more as compared with 2017.

The share of voluntary classes of business in the total amount of the insurance premiums is 60.0% (for January- June 2017 was 58.7%).

For January- June 2018, insurance indemnity payments and sums insured as a whole made BYN305.6m,  which is BYN42m more than for the similar period of 2017. A proportion of insurance payments in the total sum of insurance premiums for January- June 2018 amounted to 50.3% (for January- June 2017 – 50.2%).

For January-July 2018, the insurance companies paid into the budget as well as to non-budget funds BYN58.5m (for January –June 2017 – 59.2m), where BYN28.8m – taxes and non-taxes payments into the budget; BYN 29.7m – payments into non-budget funds (for January-June 2017 – BYN33.8m and BYN25.4m respectively).

Average number of employees of local insurance companies as of 1 July 2018 amounted to 8,936 people (as at 1 July 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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