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The Insurance Industry in Belarus, Key Trends and Opportunities to 2022

The Insurance Industry in Belarus, Key Trends and Opportunities to 2022

Summary

GlobalData’s The Insurance Industry in Belarus, Key Trends and Opportunities to 2022, report provides detailed analysis of the market trends, drivers and challenges in the Belarusian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Belarusian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

This report provides in-depth market analysis, information and insights into the Belarusian insurance industry, including -

  • The Belarusian insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Belarusian economy and demographics
  • Details of the competitive landscape in the Belarusian insurance industry
  • The various distribution channels in the Belarusian insurance industry
  • Details of regulatory policy applicable to the Belarusian insurance industry
  • Analysis of natural hazards in the Belarusian insurance industry
Key Highlights
  • In 2018, Belarus Re offered civil liability insurance to aircraft owners and aircraft insurance to the Ministry of Emergency Situation of Belarus.
  • On 17 July, 2018, a decree was signed by the President of the Republic of Belarus regarding the increase in labor pensions and retirement pensions.
  • In 2018, the Ministry of Finance planned to introduce a regulation to offer individuals with an opportunity to engage in the purchase of motor insurance through electronic services.
Scope

This report provides a comprehensive analysis of the insurance industry in Belarus -
  • It provides historical values for the Belarusian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Belarusian insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Belarus.
  • It profiles the top insurance companies in Belarus, and outlines the key regulations affecting them.
Reasons to buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Belarusian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Belarusian insurance industry.
  • Assess the competitive dynamics in the Belarusian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Belarusian insurance industry and their impact on companies and the industry's future.


1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Direct written premium
4.1.2 Insurance density
4.1.3 Paid claims
5 Life Insurance Outlook
5.1 Segment Indicators
5.1.1 Direct written premium
5.1.2 Paid claims
5.1.3 Penetration
5.2 Pension Insurance
5.2.1 Direct written premium
5.2.2 Penetration
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Direct written premium
6.1.2 Paid claims
6.1.3 Penetration
6.2 Property Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Claims
6.3 Motor Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Claims
6.4 Liability Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Claims
6.5 Marine, Aviation and Transit Insurance
6.5.1 Direct written premium
6.5.2 Penetration
6.5.3 Claims
6.6 Personal Accident and Health Insurance
6.6.1 Direct written premium
6.6.2 Penetration
6.6.3 Claims
6.7 Miscellaneous
6.7.1 Direct written premium
6.7.2 Penetration
6.7.3 Claims
7 Reinsurance Outlook
8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Extreme Weather
9.2 Flooding
9.3 Storms
9.4 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Belgosstrakh - company overview
10.1.2 Eximgarant of Belarus - company overview
10.1.3 Belneftestrakh - company overview
10.1.4 Priorlife - company overview
10.1.5 Stravita - company overview
11 Governance, Risk and Compliance
11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life insurance
11.3.2 Property insurance
11.3.3 Motor insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Motor liability insurance
11.4.2 Health insurance for foreigners
11.4.3 Workmen’s compensation insurance
11.4.4 Aviation liability insurance
11.4.5 Insurance for crops, livestock and poultry
11.4.6 Professional indemnity insurance for organizations involved in real estate activities
11.4.7 Professional indemnity insurance for managers involved in bankruptcy
11.4.8 Liability insurance for transport of dangerous goods
11.5 Supervision and Control
11.5.1 International Association of Insurance Supervisors
11.5.2 Ministry of Finance
11.6 Non-Admitted Insurance Regulation
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxation
11.8.2 Withholding taxes on premium paid overseas
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution
12 Databook
12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Property insurance
12.2.4 Property insurance by category
12.2.5 Motor insurance
12.2.6 Motor insurance by category
12.2.7 Liability insurance
12.2.8 Marine, aviation and transit insurance
12.2.9 Marine, aviation and transit insurance by category
12.2.10 Personal accident and health insurance
12.2.11 Personal accident and health insurance by category
12.2.12 Miscellaneous
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About GlobalData
14.1 Contact GlobalData
14.2 About GlobalData
14.3 GlobalData’s Services
14.4 Disclaimer
List of Tables
Table 1: Belarus Insurance Industry - Key Facts,
Table 2: Belarus Insurance Industry - Industry Share of the Top Insurers,
Table 3: Belarus Government Credit Ratings
Table 4: Belarus Insurance Industry - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 5: Belarus Insurance Industry - Direct Written Premium (BYR Billion and US$ Million), 2017-
Table 6: Belarus Insurance Industry - Density (BYR), 2013-
Table 7: Belarus Insurance Industry - Density (BYR), 2017-
Table 8: Belarus Insurance Industry - Paid Claims (BYR Billion and US$ Billion), 2013-
Table 9: Belarus Insurance Industry - Paid Claims (BYR Billion and US$ Billion), 2017-
Table 10: Belarus Life Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 11: Belarus Life Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 12: Belarus Life Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 13: Belarus Life Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 14: Belarus Pension - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 15: Belarus Pension - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 16: Belarus General Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 17: Belarus General Insurance - Direct Written Premium (BYR Billion and US$ Million), 2017-
Table 18: Belarus General Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 19: Belarus General Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 20: Belarus Property Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 21: Belarus Property Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 22: Belarus Property Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 23: Belarus Property Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 24: Belarus Motor Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 25: Belarus Motor Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 26: Belarus Motor Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 27: Belarus Motor Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 28: Belarus Liability Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 29: Belarus Liability Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 30: Belarus Liability Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 31: Belarus Liability Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 32: Belarus Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 33: Belarus Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 34: Belarus Marine, Aviation and Transit Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 35: Belarus Marine, Aviation and Transit Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 36: Belarus Personal Accident and Health Insurance - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 37: Belarus Personal Accident and Health Insurance - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 38: Belarus Personal Accident and Health Insurance - Paid Claims (BYR Million and US$ Million), 2013-
Table 39: Belarus Personal Accident and Health Insurance - Paid Claims (BYR Million and US$ Million), 2017-
Table 40: Belarus Miscellaneous - Direct Written Premium (BYR Million and US$ Million), 2013-
Table 41: Belarus Miscellaneous - Direct Written Premium (BYR Million and US$ Million), 2017-
Table 42: Belarus Miscellaneous - Paid Claims (BYR Million and US$ Million), 2013-
Table 43: Belarus Miscellaneous - Paid Claims (BYR Million and US$ Million), 2017-
Table 44: Belarus Insurance Industry - Market Share of Top Insurers (%),
Table 45: Belarus Life Insurance Segment - Market Share of Top Life Insurers (%),
Table 46: Belarus General Insurance Segment - Market Share of Top General Insurers (%),
Table 47: Belgosstrakh - Key Facts
Table 48: Eximgarant of Belarus - Key Facts
Table 49: Belneftestrakh - Key Facts
Table 50: Priorlife - Key Facts
Table 51: Stravita - Key Facts
Table 52: Belarus - Insurance Regulatory Framework Key Features
Table 53: Belarus - Life Insurance Regulatory Framework
Table 54: Belarus - Property Insurance Regulatory Framework
Table 55: Belarus - Motor Insurance Regulatory Framework
Table 56: Belarus - Bonus-malus System
Table 57: Belarus - Liability Insurance Regulatory Framework
Table 58: Belarus - Premium for Compulsory Civil Liability Insurance for Vehicle Owners
Table 59: Belarus - Premium Rates for Crops, Livestock and Poultry for
Table 60: Belarus - Corporate Tax Rates for the Financial Year
Table 61: Belarus Life Insurance - Policies and Premium, 2013-
Table 62: Belarus Life Insurance - Policies and Premium, 2017-
Table 63: Belarus Life Insurance - Claims and Expenses, 2013-
Table 64: Belarus Life Insurance - Claims and Expenses, 2017-
Table 65: Belarus General Insurance - Policies and Premium, 2013-
Table 66: Belarus General Insurance - Policies and Premium, 2017-
Table 67: Belarus General Insurance - Claims and Expenses, 2013-
Table 68: Belarus General Insurance - Claims and Expenses, 2017-
Table 69: Belarus General Insurance - Property Insurance, 2013-
Table 70: Belarus General Insurance - Property Insurance, 2017-
Table 71: Belarus General Insurance - Property Insurance by Category, 2013-
Table 72: Belarus General Insurance - Property Insurance by Category, 2017-
Table 73: Belarus General Insurance - Motor Insurance, 2013-
Table 74: Belarus General Insurance - Motor Insurance, 2017-
Table 75: Belarus General Insurance - Motor Insurance by Category, 2013-
Table 76: Belarus General Insurance - Motor Insurance by Category, 2017-
Table 77: Belarus General Insurance - Liability Insurance, 2013-
Table 78: Belarus General Insurance - Liability Insurance, 2017-
Table 79: Belarus General Insurance - Marine, Aviation and Transit Insurance, 2013-
Table 80: Belarus General Insurance - Marine, Aviation and Transit Insurance, 2017-
Table 81: Belarus General Insurance - Marine Aviation and Transit Insurance by Category, 2013-
Table 82: Belarus General Insurance - Marine Aviation and Transit Insurance by Category, 2017-
Table 83: Belarus General Insurance - Personal Accident and Health Insurance, 2013-
Table 84: Belarus General Insurance - Personal Accident and Health Insurance, 2017-
Table 85: Belarus General Insurance - Personal Accident and Health Insurance by Category, 2013-
Table 86: Belarus General Insurance - Personal Accident and Health Insurance by Category, 2017-
Table 87: Belarus General Insurance - Miscellaneous, 2013-
Table 88: Belarus General Insurance - Miscellaneous, 2017-
Table 89: Insurance Industry Definitions
List of Figures
Figure 1: Belarus Real GDP (US$ Billion), 2013-
Figure 2: Belarus Exchange Rate (BYR per US$), 2013-
Figure 3: Belarus Consumer Price Inflation (%), 2013-
Figure 4: Belarus Current Account Balance as Percentage of GDP (%), 2013-
Figure 5: Belarus Unemployment Rate, 2013-
Figure 6: Belarus Population by Age Group, 2013-
Figure 7: Belarus Insurance Industry - Direct Written Premium (BYR Billion), 2013-
Figure 8: Belarus Insurance Industry - Density (BYR), 2013-
Figure 9: Belarus Insurance Industry - Paid Claims (BYR Billion), 2013-
Figure 10: Belarus Life Insurance - Direct Written Premium (BYR Million), 2013-
Figure 11: Belarus Life Insurance - Paid Claims (BYR Million), 2013-
Figure 12: Belarus Life Insurance - Penetration (%), 2013-
Figure 13: Belarus Life Insurance - Penetration (%), 2017-
Figure 14: Belarus Pension - Direct Written Premium (BYR Million), 2013-
Figure 15: Belarus Pension - Penetration (%), 2013-
Figure 16: Belarus Pension - Penetration (%), 2017-
Figure 17: Belarus General Insurance - Direct Written Premium (BYR Billion), 2013-
Figure 18: Belarus General Insurance - Paid Claims (BYR Million), 2013-
Figure 19: Belarus General Insurance - Penetration (%), 2013-
Figure 20: Belarus General Insurance - Penetration (%), 2017-
Figure 21: Belarus Property Insurance - Direct Written Premium (BYR Million), 2013-
Figure 22: Belarus Property Insurance - Penetration (%), 2013-
Figure 23: Belarus Property Insurance - Penetration (%), 2017-
Figure 24: Belarus Property Insurance - Paid Claims (BYR Million), 2013-
Figure 25: Belarus Motor Insurance - Direct Written Premium (BYR Million), 2013-
Figure 26: Belarus Motor Insurance - Penetration (%), 2013-
Figure 27: Belarus Motor Insurance - Penetration (%), 2017-
Figure 28: Belarus Motor Insurance - Paid Claims (BYR Million), 2013-
Figure 29: Belarus Liability Insurance - Direct Written Premium (BYR Million), 2013-
Figure 30: Belarus Liability Insurance - Penetration (%), 2013-
Figure 31: Belarus Liability Insurance - Penetration (%), 2017-
Figure 32: Belarus Liability Insurance - Paid Claims (BYR Million), 2013-
Figure 33: Belarus Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Million), 2013-
Figure 34: Belarus Marine, Aviation and Transit Insurance - Penetration (%), 2013-
Figure 35: Belarus Marine, Aviation and Transit Insurance - Penetration (%), 2017-
Figure 36: Belarus Marine, Aviation and Transit Insurance - Paid Claims (BYR Million), 2013-
Figure 37: Belarus Personal Accident and Health Insurance - Direct Written Premium (BYR Million), 2013-
Figure 38: Belarus Personal Accident and Health Insurance - Penetration (%), 2013-
Figure 39: Belarus Personal Accident and Health Insurance - Penetration (%), 2017-
Figure 40: Belarus Personal Accident and Health Insurance - Paid Claims (BYR Million), 2013-
Figure 41: Belarus Miscellaneous - Direct Written Premium (BYR Million), 2013-
Figure 42: Belarus Miscellaneous - Penetration (%), 2013-
Figure 43: Belarus Miscellaneous - Penetration (%), 2017-
Figure 44: Belarus Miscellaneous - Paid Claims (BYR Million), 2013-
Figure 45: Belarus Insurance Industry - Market Share of Top Insurers (%),
Figure 46: Belarus Life Insurance Segment - Market Share of Top Life Insurers (%),
Figure 47: Belarus General Insurance Segment - Market Share of Top General Insurers (%),
Figure 48: Belarus - Insurance Supervision and Control at Various Levels
Figure 49: Belarus - Insurance Regulatory Frameworks for Company Registration and Operation

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