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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
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