The Insurance Industry in Belarus, Key Trends and Opportunities to 2017 - New Study Released

From: Fast Market Research, Inc.
Published: Wed Jan 15 2014

The Republic of Belarus is a landlocked country in Eastern Europe bordered by Russia, Poland, Ukraine, Lithuania and Latvia. Due to its geographical location, the country acts as a link between Western Europe, Russia and Asian countries. This, coupled with the high government expenditure through public programs, insurance industry reforms and favorable growth in exports, mainly to Russia, supported growth in the insurance industry during the review period. The Belarusian insurance industry grew in terms of written premium value from BYR954.1 billion (US$446.6 million) in 2008 to BYR4.3 trillion (US$520.3 million) in 2012, recording a CAGR of 46.0% during the review period (2008-2012).

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Key Highlights

* The Belarusian insurance industry is small and developing, with its gross written premium standing at BYR4.3 trillion (US$520.3 million) in 2012. Insurance penetration, measured as gross written premium as a percentage of GDP, stood at 0.82% in 2012
* The industry remained unaffected by the global and European debt crises due to its minimal participation in the global insurance industry
* The industry in Belarus is small and highly concentrated. There were 25 companies operating in the Belarusian insurance industry as at the end of 2012
* The Insurance Supervisory Department, under the Ministry of Finance, is the regulator of the insurance industry in Belarus
* Belarusian GDP at constant prices declined from US$62.2 billion in 2007 to US$31.2 billion in 2011 at a CAGR of 15.9% during the review period.


This report provides a comprehensive analysis of the insurance industry in Belarus:

* It provides historical values for Belarusian insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key segments and sub-segments in Belarusian insurance industry, along with forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
* It profiles the top insurance companies in Belarus, and outlines the key regulations affecting them

Reasons to Get this Report

* Make strategic business decisions using in-depth historic and forecast industry data related in the Belarusian insurance industry and each segment within it
* Understand the demand-side dynamics, key trends and growth opportunities within the Belarusian insurance industry
* Assess the competitive dynamics in the the Belarusian insurance industry
* Identify the growth opportunities and market dynamics within key segments
* Gain insights into key regulations governing the Belarusian insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Belgosstrakh, CJSC Task, CJSC Promtransinvest, Beleximgarant, JSIC B&B Insurance Co., CJSC Belneftestrakh, RDUSP Stravita, JV Belkoopstrah, JSC IC Belrosstrah, SBA CJSIC Midsummer,

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For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Non-Life Insurance in France, Key Trends and Opportunities to 2017
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Life Insurance in France, Key Trends and Opportunities to 2017

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