Insurance Companies: results of operations for January-September 2018

For January – September 2018, the insurance companies of the Republic of Belarus received BYN 906.6m of insurance premiums under direct insurance and co-insurance. The growth of receipt for January – September 2018 against the same period last year made 116.1%.

For January – September 2018, insurance premiums under voluntary classes of business amounted to BYN 544.0 m, which is BYN93.3m more against the same period in 2017.

Insurance premiums under compulsory classes of business for January – September 2018 amounted to BYN 362.6m, which is BYN32.4m 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- September 2017 was 57.7%).

For January- September 2018, insurance indemnity payments and sums insured as a whole made BYN447.6m,  which is BYN 54.4m more than for the similar period of 2017. A proportion of insurance payments in the total sum of insurance premiums for January- September 2018 amounted to 49.4% (for January- September 2017 – 50.4%).

For January-September 2018, the insurance companies paid into the budget as well as to non-budget funds BYN82.8m (for January –September 2017 – 94.8m), where BYN40.1m – taxes and non-taxes payments into the budget; BYN 42.7m – payments into non-budget funds (for January-September 2017 – BYN56.5m and BYN38.3m respectively).

The number of employees of local insurance companies as of 1 October 2018 amounted to 8,925 people (as at 1 October 2017 – 8,996 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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