In Belarus, insurance contributions increased by 12.3% in 2021

Contributions of insurance organizations of Belarus for 2021 amounted to BYN1.696 billion (approximately $678 million). This is 12.3% more than in 2020, BELTA writes with reference to reports Ministry of Finance.

For voluntary types of insurance, premiums for 2021 increased by BYN167.8 million ($67 million). Insurance premiums for mandatory types amounted to BYN18.6 million ($7.4 million) more than in 2020. In the total amount of insurance premiums, the proportion of voluntary types was 65.3%. In 2020, it was 62.3%.

The level of insurance payments in the total amount of insurance premiums for 2021 amounted to 62.8%. In 2020, it was 53.9%. In total, BYN1.065 billion (approximately $420 million) was paid.

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