Insurance premiums in Belarus increased in 2018

In 2018, insurance premiums of Belarus insurance organizations on direct insurance and coinsurance amounted to BYN1,203.3b  and increased compared to 2017 by 12.4%. Such information can be found on the website of the Ministry of Finance, as BelTA informs. Last year for voluntary types of insurance, insurance premiums amounted to BYN715.9m. Their share in the total portfolio of insurers was 59.5%, which is by 2.9 percentage points more compared to 2017. Insurance premiums for compulsory insurance amounted to BYN487.4m. The share of compulsory insurance in the total amount of premiums was 40.5% (43.4% in 2017). Insurance indemnity and insurance coverage in the country as a whole amounted to BYN621.2m and exceeded this figure for 2017 by BYN86m. The level of insurance payments in the total amount of insurance premiums for 2018 increased by 1.6 percentage points compared with the previous year to 51.6%.

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