Страховой рынок Республики Беларусь
The Insurance market of the Republic of Belarus
March 2014
25 insurance companies State controlled 100%
1. Belgosstrakh, 2. Beleximgarant, 3. Stravita 4. Belarussian national reinsurance company (BNRC) 1. TASK, 2. Promtransinvest, 3. Belneftestrah, 4.Belkoopstrakh
State controlled 50% и >
1. PPF Insurance и 2. Zepter Insurance
100 % foreign ownership
LIFE
NONLIFE
Reinsurance
TOTAL
State controlled
1
6
1
8
Local capital
3
3
0
6
Foreign capital
0
11
0
11
The role of the insurance sector in the economy 1,07%
Доля страхового сектора в ВВП Market share in GDP in USD millions 2009
Premiums GDP
2010
2011
2012
9 мес. 2013
415
481
501
556
610
49 231
55 203
59 413
63 614
51 697
Premiums per head, in USD 42,05
2009
Premiums per head, USD
49,97
47,51
2010
2011
58,40
54,97
2012
9 мес. 2013
2009
2010
2011
2012
9 mo. 2013
42
47
49
54
58
The dynamics of insurance premiums, in USD millions 700 556
600
501
481
500 415 400
610 537
503
458 436
378 300 200 100
22
26
22
25
2011
2012
28
0
2009 NON LIFE
2010 LIFE
9 мес. 2013
Gross premiums Всего, премии-брутто
Investments of the insurance sector of the Republic of Belarus 10%
11%
Государственные ценные бумаги Ценные бумаг юридических лиц, в том числе банков
78%
Недвижимое имущество Счета Bankбанков balances
in USD millions
INVESTMENTS
2009
2010
2011
2012
9 mo. 2013
306
344
345
320
400
250
256
219
312
Government securities Corporate securities Real estate
Bank balances
194
Authorized capital
Equity capital * in USD millions
2009
593 204,7
669 848,8
2010
571 597,8
664 238,1
2011
357 933,4
540 142,1
2012
1 126 133,1
1 302 158,7
9 mo.2013
1 098 122,3
1 293 822,6
The structure of the equity capital 15,13% The share of УСТАВНЫЙ КАПИТАЛ в Authorized capital in Собственном капитале Equity capital
84,87%
Прочие компоненты The other components of Собственного капитала the Equity capital
* Equity capital = Authorized capital Additional capital Reserve capital Net profit (loss) of the reporting period Retained earnings
Market share of TOP 10 NON LIFE insurers Market share in percentage of the state controlled insurers
40%
60%
Insurance company
1 2 3 4 5 6 7 8 9 10
Belgosstrakh TASK Beleximgarant Promtransinvest Belneftestrakh B&B Insurance Company Belrosstrakh Belkoopstarkh Kupala Belingosstrakh
Государственные страховые компании Негосударственные страховые компании
Market share in percentage of the whole insurance sector in terms of premium 47,09 7,94 7,12 6,67 5,66 4,46 3,45 2,99 1,95 1,70
Market share in percentage of the nonlife insurance sector in terms of premium 49,97 8,42 7,56 7,08 6,01 4,73 3,66 3,17 2,07 1,80
Market share of top ten NONLIFE insurers
7,13 8,24
81,56%
7,18
Stravita (state controlled) РДУСП «Стравита»
Mega Police ОАСО «МЕГА ПОЛИС" Pensionnyie Garantii ОАСО «Пенсионные гарантии» Sedmaya Liniya УСП «Седьмая линия»
Life Insurer
Market share in percentage of the whole insurance sector in terms of assets
Market share in percentage of the life insurance sector in terms of assets
1
Stravita (state controlled)
5,86
81,56
2
Pensionnyie Garantii
0,59
8,24
3
Sedmaya Liniya
0,51
7,13
4
Mega Police
0,22
3,07
Voluntary and Compulsory insurance 54%
50%
52%
51%
46%
50%
48%
49%
2009
2010
2011
Voluntary types of insurance Добровольные виды
43% 57% 9 мес. 2013
2012
Compulsory types ofвиды insurance Обязательные
2 060
2 214
Compulsory types Обязательные of insurance виды
1 223 597
673
518 2009
669
2010
2 124
1 143 2011
2012
2009
2010
Voluntary types of insurance
518
Compulsory types of insurance
597
2 775
Voluntary types Добровольные of insurance виды
9 мес. 2013
2011
2012
9 mo.2013
669
1 143
2 124
2 775
673
1 223
2 214
2 060
Premiums
Compulsory types of insurance There are 9 classes of mandatory insurance in the Republic of Belarus: 1. Property insurance Belgosstrakh);
for
privately
owned
buildings
(monopoly
by
2. Agricultural insurance for crops, livestock and poultry (monopoly by Belgosstrakh). 3. Work injury and occupational diseases insurance (effectively a state scheme administered by Belgosstrakh)
4. Life, health and personal accident for certain state employees (government funded state scheme) 5. Professional indemnity for real estate agents (monopoly by Belgosstrakh) 6. Medical expenses insurance for foreign citizens (monopoly by majority state-owned insurers) (monopoly by Belgosstrakh and Beleximgarant) 7. Liability cover for passengers in buses, airplanes, trains and river craft (monopoly by Belgosstrakh and Beleximgarant); 8. Motor third party liability (monopoly by majority state-owned insurers – Belgosstrakh, Beleximgarant, TASK, Promtrasinvest, Belneftestrakh, Belkoopstrakh) 9. Professional indemnity for company liquidators.
The composition of compulsory types of insurance premiums (1 October 2013) Обязательное Compulsory страхование гражданской ответственнотси Motor Third Party Liability владельцев транспортных средств
3%
4%
4%
39%
50%
Обязательное страхование от Work injury and несчастных случаев на insurance occupational diseases производстве и профессиональных заболеваний
Agricultural insurance Обязательное страхование с государственной поддержкой урожая for crops, livestock and poultry сельскохозяйственных культур, скота и птицы
Property insurance for privately Обязательное страхование строений, owned buildings принадлежащих гражданам
Other types of compulsory insurance Прочие виды обязательного страхования
The composition of voluntary types of insurance premiums (1 October 2013) 6%
Имущественное Property insurance страхование
24%
70%
Personal insurance
Личное страхование
Liability insurance Страхование ответственности 2009
2010
2011
Property insurance
362
456
773
1452
1929
Personal insurance
122
169
274
534
668
34
45
96
139
178
Liability insurance
2012
9 mo. 2013
The composition of insurance premiums Personal Insurance
Property Insurance 2%
37%
12%
13%
31%
38%
25% 18%
15%
37%
страхование жизни
страхование имущества предприятий Property insurance for enterprises
страхование дополнительной пенсии Insurance of additional pension
страхование имущества граждан Property insurance for citizens
страхование от несчастных Accident insurance for случаев going abroad выезжающих за рубеж Medical expenses insurance страхование медицинских расходов
страхование предпринимательского риска Insurance business risk
Life insurance
Accident insurance
страхование от несчастных случаев и др.
страхование грузов Cargo insurance прочие Other(страхование строительно-монтажных рисков и др.)
Particularities of Belarusian insurance legislation 1. The minimum authorized capital is set at an amount equivalent to : 1 million euros - for insurer providing nonlife insurance; 2 million euros - for the insurer providing life insurance; 5 million euros - for the insurer providing only reinsurance 2. The amount of the contribution of each founder may not exceed 35 percent of the amount of the statutory fund, except for contribution (stake) of the Republic of Belarus and/or its administrative and territorial units into the statutory fund of the insurer
3. The mandatory insurance is only placed with state controlled insurers or the share of the government 50% and more 4. State enterprises or entities with the 50% and more share of the government are not allowed to carry insurance in private insurance companies 5. Any risk transfer must be coordinated with BNRC 6. There is a mandatory reinsurance cession of ninety percent of the risks that are above the limit of retention. Reinsurance is carried out by BNRC that provides reinsurance as the only local reinsurer 7. Allocation of assets backing up the reserves in bank accounts Размещение страховых резервов на специальных счетах; 8. The requirement of the level of expenses { 12% - for LIFE ; 35 % and 25 % - for NON LIFE business voluntary and compulsory accordingly }.
Main development priorities - Implementation of electronic policy - Development of a system of pre-arbitration procedure of disputes - Development of Actuaries' Institute - Improving financial literacy among the population and confidence to insurers - Creation of equal conditions for doing business in the insurance market