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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Belarusian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Belarus' insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Belarusian non-life (P&C) market as well as trends by line of business. Axco analysts also report on Belarus' economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Belarus insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Belarus, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Belarus, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Belarus with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Belarus non-life insurance market is relatively small with low premium expenditure per capita compared with neighbouring peer markets. This reflects the condition of the Belarus economy, which is overwhelmingly state-owned and where disposable incomes are modest. Total non-life premiums (including personal accident and healthcare) amounted to BYN 1.23bn (USD 589.96mn) in 2019 representing growth in local currency of 11.86%.
The approach to the COVID-19 pandemic in Belarus has been very different ....
This is a brief extract of information; more updated information may be available in the latest published report.
