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The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Insurance Industry in Belarus, Key Trends and Opportunities to 2020' report provides a detailed analysis of Belarusian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Belarusian economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural hazards on the insurance industry.

The report brings together Timetric’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.

Summary

Timetric’s 'The Insurance Industry in Belarus, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Belarusian insurance industry, including:

  • An overview of the Belarusian insurance industry
  • The Belarusian insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Belarusian economy and demographics
  • The detailed competitive landscape in the Belarusian insurance industry
  • Overview of distribution channels in the Belarusian insurance industry
  • Details of regulatory policy applicable to the Belarusian insurance industry
  • An analysis of natural hazards and its impact on the Belarusian insurance industry
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 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key segments in the Belarusian insurance industry, with market forecasts to 2020.
  • 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.
  • It covers the economy and demographics structure of Belarus.
  • It analyzes the impact of natural hazards in the Belarusian insurance industry.
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 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.
Key Highlights
  • The real GDP of Belarus shrank due to the high energy and financial dependence on Russia in the presence of the ongoing regional crisis, a decline in industrial production and a decrease in exports.
  • The Belarusian insurance industry’s penetration stood at 0.1% in 2015, which was lower than neighboring countries such as Russia (3.18%), Poland (3.17%) and Ukraine (1.35%).
  • The industry is led by the non-life segment, which accounted for 82.3% of its direct written premium in 2015.
  • On July 1, 2014 the Ministry Of Finance (MoF) announced new procedures and conditions for obligatory medical insurance for foreign citizens and those with temporary residency.
  • Five insurance companies were terminated during the review period – Zepter Insurance; Bagach Insurance; Delta Insurance; Megapolis Insurance; and Rosgosstrakh – due to high operational losses.
  • Over the forecast period, increased foreign direct investment (FDI), low insurance penetration and rising outbound travel are likely to drive the industry, which is expected to register a forecast-period CAGR of 13.5% in terms of direct written premium.


  • Key Facts and Highlights
    • Table Belarusian Insurance Industry - Key Facts, 2015
    • Table Belarusian Insurance Industry - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Belarusian Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Direct written premium
        • Table Belarusian Insurance Industry - Direct Written Premium by Segment (BYR Trillion), 2011-2015
        • Table Belarusian Insurance Industry - Direct Written Premium by Segment (BYR Trillion), 2015-2020
        • Table Belarusian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (BYR), 2011-2015
        • Table Belarusian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (BYR), 2015-2020
      • Claims
        • Table Belarusian Insurance Industry - Paid Claims by Segment (BYR Billion), 2011-2015
        • Table Belarusian Insurance Industry - Paid Claims by Segment (BYR Billion), 2015-2020
  • Life Insurance
    • Individual Life Insurance
      • Direct written premium
        • Table Belarusian Individual Life Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Individual Life Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
      • Penetration
  • Non-Life Insurance
    • Table Belarusian Non-life Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
    • Table Belarusian Non-life Insurance - Direct Written Premium (BYR Trillion and US$ Billion), 2015-2020
    • Property Insurance
      • Direct written premium
        • Table Belarusian Property Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
        • Table Belarusian Property Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Property Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Property Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
    • Motor Insurance
      • Direct written premium
        • Table Belarusian Motor Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
        • Table Belarusian Motor Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Motor Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Motor Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
    • Liability Insurance
      • Direct written premium
        • Table Belarusian Liability Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
        • Table Belarusian Liability Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Liability Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Liability Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Direct written premium
        • Table Belarusian Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Marine, Aviation and Transit Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Marine, Aviation and Transit Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
  • Personal Accident and Health Insurance Outlook
    • Table Belarusian Personal Accident and Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
    • Table Belarusian Personal Accident and Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
    • Personal Accident Insurance
      • Direct written premium
        • Table Belarusian Personal Accident Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Personal Accident Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Personal Accident Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Personal Accident Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
    • Health Insurance
      • Direct written premium
        • Table Belarusian Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
      • Penetration
      • Claims
        • Table Belarusian Health Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
        • Table Belarusian Health Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
  • Reinsurance Outlook
    • Reinsurance Accepted
      • Table Belarusian Reinsurance - Premium Accepted by Category (BYR Billion), 2011-2015
      • Table Belarusian Reinsurance - Premium Accepted by Category (BYR Billion), 2015-2020
  • Distribution Channel Outlook
  • Natural Hazards
    • Table Belarusian Average Annual Loss by Hazard (US$ Million), 1990-2014
    • Extreme Temperature
    • Flooding
    • Storm
    • Exposure
  • Competitive Landscape
    • Table Belarusian Insurance Industry - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Belgosstrakh - company overview
        • Table Belgosstrakh - Key Facts
      • Task Insurance Co. - company overview
        • Table Task Insurance Co - Key Facts
      • Promtransinvest - company overview
        • Table Promtransinvest - Key Facts
      • Belneftestrakh - company overview
        • Table Belneftestrakh - Key Facts
      • Beleximgarant - company overview
        • Table Beleximgarant - Key Facts
  • Governance, Risk and Compliance
    • Table Belarus - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Belarus - Life Insurance Regulatory Framework
      • Property insurance
        • Table Belarus - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Belarus - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Belarus - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third party liability insurance
        • Table Belarus - Premium for Compulsory Civil Liability Insurance for Vehicle Owners
      • Health insurance for foreigners
      • Workmen's compensation
      • Aviation liability insurance
      • Insurance for crops, livestock and poultry
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Ministry of Finance
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Belarus - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Belarusian Life Insurance - Policies and Premium, 2011-2015
        • Table Belarusian Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Belarusian Life Insurance - Claims and Expenses, 2011-2015
        • Table Belarusian Life Insurance - Claims and Expenses, 2015-2020
      • Individual life insurance
        • Table Belarusian Life Insurance - Individual Life Insurance, 2011-2015
        • Table Belarusian Life Insurance - Individual Life Insurance, 2015-2020
      • Individual life insurance by product
        • Table Belarusian Life Insurance - Individual Life Insurance by Product, 2011-2015
        • Table Belarusian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Non-Life Insurance
      • Policies and premium
        • Table Belarusian Non-Life Insurance - Policies and Premium, 2011-2015
        • Table Belarusian Non-Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Belarusian Non-Life Insurance - Claims and Expenses, 2011-2015
        • Table Belarusian Non-Life Insurance - Claims and Expenses, 2015-2020
      • Property insurance
        • Table Belarusian Non-Life Insurance - Property Insurance, 2011-2015
        • Table Belarusian Non-Life Insurance - Property Insurance, 2015-2020
      • Property insurance by product
        • Table Belarusian Non-Life Insurance - Property Insurance by Product, 2011-2015
        • Table Belarusian Non-Life Insurance - Property Insurance by Product, 2015-2020
      • Motor insurance
        • Table Belarusian Non-Life Insurance - Motor Insurance, 2011-2015
        • Table Belarusian Non-Life Insurance - Motor Insurance, 2015-2020
      • Motor insurance by product
        • Table Belarusian Non-Life Insurance - Motor Insurance by Product, 2011-2015
        • Table Belarusian Non-Life Insurance - Motor Insurance by Product, 2015-2020
      • Liability insurance
        • Table Belarusian Non-Life Insurance - Liability Insurance, 2011-2015
        • Table Belarusian Non-Life Insurance - Liability Insurance, 2015-2020
      • Marine, aviation and transit insurance
        • Table Belarusian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
        • Table Belarusian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Belarusian Personal Accident and Health Insurance - Policies and Premium, 2011-2015
        • Table Belarusian Personal Accident and Health Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Belarusian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
        • Table Belarusian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
      • Personal accident insurance
        • Table Belarusian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
        • Table Belarusian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
      • Health insurance
        • Table Belarusian Personal Accident and Health Insurance - Health Insurance, 2011-2015
        • Table Belarusian Personal Accident and Health Insurance - Health Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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