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

Published: Oct, 2016 | Pages: 101 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

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.

 Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook
4.1 Regional Comparison
4.2 Industry Indicators
4.2.1 Direct written premium
4.2.2 Claims

5 Life Insurance
5.1 Individual Life Insurance
5.1.1 Direct written premium
5.1.2 Penetration

6 Non-Life Insurance
6.1 Property Insurance
6.1.1 Direct written premium
6.1.2 Penetration
6.1.3 Claims
6.2 Motor Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Claims
6.3 Liability Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Claims
6.4 Marine, Aviation and Transit Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Claims

7 Personal Accident and Health Insurance Outlook
7.1 Personal Accident Insurance
7.1.1 Direct written premium
7.1.2 Penetration
7.1.3 Claims
7.2 Health Insurance
7.2.1 Direct written premium
7.2.2 Penetration
7.2.3 Claims

8 Reinsurance Outlook
8.1 Reinsurance Accepted

9 Distribution Channel Outlook

10 Natural Hazards
10.1 Extreme Temperature
10.2 Flooding
10.3 Storm
10.4 Exposure

11 Competitive Landscape
11.1 Company Profiles
11.1.1 Belgosstrakh - company overview
11.1.2 Task Insurance Co. - company overview
11.1.3 Promtransinvest - company overview
11.1.4 Belneftestrakh - company overview
11.1.5 Beleximgarant - company overview

12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life insurance
12.3.2 Property insurance
12.3.3 Motor insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third party liability insurance
12.4.2 Health insurance for foreigners
12.4.3 Workmen's compensation
12.4.4 Aviation liability insurance
12.4.5 Insurance for crops, livestock and poultry
12.5 Supervision and Control
12.5.1 International Association of Insurance Supervisors
12.5.2 Ministry of Finance
12.6 Non-Admitted Insurance Regulation
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.9 Legal System
12.9.1 Introduction
12.9.2 Access to court
12.9.3 Alternative dispute resolution (ADR)

13 Databook
13.1 Life Insurance
13.1.1 Policies and premium
13.1.2 Claims and expenses
13.1.3 Individual life insurance
13.1.4 Individual life insurance by product
13.2 Non-Life Insurance
13.2.1 Policies and premium
13.2.2 Claims and expenses
13.2.3 Property insurance
13.2.4 Property insurance by product
13.2.5 Motor insurance
13.2.6 Motor insurance by product
13.2.7 Liability insurance
13.2.8 Marine, aviation and transit insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and premium
13.3.2 Claims and expenses
13.3.3 Personal accident insurance
13.3.4 Health insurance

14 Definitions and Methodology
14.1 Definitions
14.2 Methodology

15 About Timetric
15.1 Contact Timetric
15.2 About Timetric
15.3 Timetric's Services
15.4 Disclaimer

List of Tables

Table 1: Belarusian Insurance Industry - Key Facts, 2015
Table 2: Belarusian Insurance Industry - Segment Shares of the Top Insurers, 2015
Table 3: Belarusian Government Credit Ratings
Table 4: Belarusian Insurance Industry - Direct Written Premium by Segment (BYR Trillion), 2011-2015
Table 5: Belarusian Insurance Industry - Direct Written Premium by Segment (BYR Trillion), 2015-2020
Table 6: Belarusian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (BYR), 2011-2015
Table 7: Belarusian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (BYR), 2015-2020
Table 8: Belarusian Insurance Industry - Paid Claims by Segment (BYR Billion), 2011-2015
Table 9: Belarusian Insurance Industry - Paid Claims by Segment (BYR Billion), 2015-2020
Table 10: Belarusian Individual Life Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
Table 11: Belarusian Individual Life Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
Table 12: Belarusian Non-life Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
Table 13: Belarusian Non-life Insurance - Direct Written Premium (BYR Trillion and US$ Billion), 2015-2020
Table 14: Belarusian Property Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
Table 15: Belarusian Property Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
Table 16: Belarusian Property Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 17: Belarusian Property Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 18: Belarusian Motor Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
Table 19: Belarusian Motor Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
Table 20: Belarusian Motor Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 21: Belarusian Motor Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 22: Belarusian Liability Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2011-2015
Table 23: Belarusian Liability Insurance - Direct Written Premium (BYR Trillion and US$ Million), 2015-2020
Table 24: Belarusian Liability Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 25: Belarusian Liability Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 26: Belarusian Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
Table 27: Belarusian Marine, Aviation and Transit Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
Table 28: Belarusian Marine, Aviation and Transit Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 29: Belarusian Marine, Aviation and Transit Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 30: Belarusian Personal Accident and Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
Table 31: Belarusian Personal Accident and Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
Table 32: Belarusian Personal Accident Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
Table 33: Belarusian Personal Accident Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
Table 34: Belarusian Personal Accident Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 35: Belarusian Personal Accident Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 36: Belarusian Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2011-2015
Table 37: Belarusian Health Insurance - Direct Written Premium (BYR Billion and US$ Million), 2015-2020
Table 38: Belarusian Health Insurance - Paid Claims (BYR Billion and US$ Million), 2011-2015
Table 39: Belarusian Health Insurance - Paid Claims (BYR Billion and US$ Million), 2015-2020
Table 40: Belarusian Reinsurance - Premium Accepted by Category (BYR Billion), 2011-2015
Table 41: Belarusian Reinsurance - Premium Accepted by Category (BYR Billion), 2015-2020
Table 42: Belarusian Average Annual Loss by Hazard (US$ Million), 1990-2014
Table 43: Belarusian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 44: Belgosstrakh - Key Facts
Table 45: Task Insurance Co - Key Facts
Table 46: Promtransinvest - Key Facts
Table 47: Belneftestrakh - Key Facts
Table 48: Beleximgarant - Key Facts
Table 49: Belarus - Insurance Regulatory Framework Key Features
Table 50: Belarus - Life Insurance Regulatory Framework
Table 51: Belarus - Property Insurance Regulatory Framework
Table 52: Belarus - Motor Insurance Regulatory Framework
Table 53: Belarus - Liability Insurance Regulatory Framework
Table 54: Belarus - Premium for Compulsory Civil Liability Insurance for Vehicle Owners
Table 55: Belarus - Corporate Tax Rates for the Financial Year 2016
Table 56: Belarusian Life Insurance - Policies and Premium, 2011-2015
Table 57: Belarusian Life Insurance - Policies and Premium, 2015-2020
Table 58: Belarusian Life Insurance - Claims and Expenses, 2011-2015
Table 59: Belarusian Life Insurance - Claims and Expenses, 2015-2020
Table 60: Belarusian Life Insurance - Individual Life Insurance, 2011-2015
Table 61: Belarusian Life Insurance - Individual Life Insurance, 2015-2020
Table 62: Belarusian Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 63: Belarusian Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 64: Belarusian Non-Life Insurance - Policies and Premium, 2011-2015
Table 65: Belarusian Non-Life Insurance - Policies and Premium, 2015-2020
Table 66: Belarusian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 67: Belarusian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 68: Belarusian Non-Life Insurance - Property Insurance, 2011-2015
Table 69: Belarusian Non-Life Insurance - Property Insurance, 2015-2020
Table 70: Belarusian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 71: Belarusian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 72: Belarusian Non-Life Insurance - Motor Insurance, 2011-2015
Table 73: Belarusian Non-Life Insurance - Motor Insurance, 2015-2020
Table 74: Belarusian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 75: Belarusian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 76: Belarusian Non-Life Insurance - Liability Insurance, 2011-2015
Table 77: Belarusian Non-Life Insurance - Liability Insurance, 2015-2020
Table 78: Belarusian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 79: Belarusian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 80: Belarusian Personal Accident and Health Insurance - Policies and Premium, 2011-2015
Table 81: Belarusian Personal Accident and Health Insurance - Policies and Premium, 2015-2020
Table 82: Belarusian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 83: Belarusian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 84: Belarusian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 85: Belarusian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 86: Belarusian Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 87: Belarusian Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 88: Insurance Industry Definitions