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BELARUSIAN NATIONAL REINSURANCE ORGANIZATIONREPUBLICAN UNITARY ENTERPRISE
ACHIEVING SUCCESS TOGETHER
ABOUT US
Belarusian National Reinsurance Organization hereinafter referred to as Belarus Re
is the only reinsurance-specialized company in Belarus.
Belarus Re is 100% state-owned company which was established on 4 November 2006
by virtue of decree No 1463 issued by Council of Ministers of Belarus
BusinessPrinciples
Strategic
Goal
MissionStatement
To create an international reinsurance company, offering a full range of reinsurance services and
providing clients with comprehensive high-standard protection
Responsibility, confidence and transparency in
relation to clients and associates
To provide top-quality reinsurance services and
do business fairly
Our staff is a main resource allowing to achieve
high performance results, gain
competitive advantage and
encourage further development
To develop insurance infrastructure of Belarus
To create national reinsurance system
To improve the status of Belarus on the
international insurance
and reinsurance markets
INTRODUCTION
PARTNERS
Belarusian Insurance Companies Foreign Insurers and Reinsurers
Brokers
INTRODUCTION
BELARUS RE ACHIEVING SUCCESS TOGETHER3
BELARUSIAN INSURANCE MARKET STRUCTURE
BELARUSIAN INSURANCE MARKET
19 Operating Companies (1 Reinsurance-specialized)
16 Non-life Insurance
3
State-
owned
4
With 50%+
state-
participation
9
Private
3 Life Insurance
1
State-
owned
2
Private
30
Insurance
Brokers
Participants
Business
Specialization
Ownership
Form
DOMESTIC MARKET
BELARUS RE ACHIEVING SUCCESS TOGETHER4
BELARUSIAN INSURANCE MARKET PECULIARITIES
Insured
Belarusian
Insurer
(Reinsured)
Belarus Re
(Reinsurer /
Retrocedant)
Foreign Reinsurer
(Retrocessionaire)
□ All undertaken liabilities under each contract of voluntary non-life insurance, exceeding the
fixed limit (20% of its equity capital) shall be transferred to Belarus Re;
□ Belarus Re is the sole company which cooperates with foreign insurance and reinsurance
companies (brokers) on placing risks insured on the territory of the Republic of Belarus;
□ Insurance companies’ tariff policy and conditions upon obligatory reinsurance treaties are
coordinated with Belarus Re;
□ Life reinsurance is not permitted;
□ Fronting is forbidden.
Thus, the legislation system provides means for insurance market stability and optimal
risk distribution through reinsurance
DOMESTIC MARKET
BELARUS RE ACHIEVING SUCCESS TOGETHER5
CORE FIGURES
2012 2013 2014 2015
Quantity of contracts 8 955 8 617 9 154 9 737
Premium written 255 843 361 545 337 419 487 996
Premium received 232 711 322 748 345 517 510 389
Premium ceded 114 869 187 752 163 627 222 038
Indemnity paid 19 579 38 231 34 010 74 319
Liability accepted 251 532 899 240 292 074 364 133 400 528 134 120
Actuarial reserves 90 739 147 700 266 969 356 113
Authorized fund 1 189 703 1 226 841 1 307 001 1 416 963
Net worth 1 255 200 1 342 238 1 417 648 1 526 919
Net profit 74 239 118 682 76 792 109 892
Solvency Margin 1 220 700 1 300 589 1 380 274 1 482 989
Combined Ratio, % 29.0 26.0 26.7 30.2
BYR ‘000 000
PERFORMANCE in 2012 – 2015
BELARUS RE ACHIEVING SUCCESS TOGETHER6
CORE FIGURES DYNAMICS
BELARUS RE ACHIEVING SUCCESS TOGETHER7
PERFORMANCE in 2012 – 2015
Ceded
Written
2012 2013 2014 2015
206725 736
153084 135
233 643 841
479 985 175
251701 929 240292 074
364 133 400
528 134 120
BYR
'00
0 00
0 Liability
Ceded
Written
2012 2013 2014 2015
114 869
187 752 163 627
222 038
255 843
361 545 337 419
487 996BYR
'000
000
Premium
WRITTEN PREMIUM STRUCTURE DYNAMICS
BELARUS RE ACHIEVING SUCCESS TOGETHER8
PERFORMANCE in 2012 – 2015
201 2 201 3 201 4 201 5
1 0.8% 6.40% 1 0.05% 1 1 .84%
89.2% 93.60% 89.95% 88.1 6%
Via Brokers Direct Cessions
201 2 201 3 201 4 201 5
32.55%20.1 3% 27.58% 22.45%
67.45%79.87% 72.42% 77.55%
Treaty Facultative
201 2 201 3 201 4 201 5
76.87%60.28%
76.53%64.28%
23.1 3%39.72%
23.47%35.72%
Voluntary Compulsory
INWARDS REINSURANCE PORTFOLIO BY LINES OF BUSINESS
GROSS PREMIUM LIABILITY WRITTEN*
BELARUS RE ACHIEVING SUCCESS TOGETHER9
PERFORMANCE in 2015
Property30.96%
Financial risks25.56%
Aviation14.76%
Green Card8.18%
EAR5.17%
Other4.77%
CAT XL3.23%
Cargo2.50%
Motor Hull2.05%
TIR Convention1 .55%
Space Risks1 .27%
Aviation70.17%
Property21 .98% Cargo
2.30%
EAR1.92%
Other1 .88%
Financial risks1 .13%
Motor Hull0.62%
* The following diagram doesn’t take into account the Green Card cover (the limit of liability under this program is unlimited).
OUTWARD REINSURANCE PORTFOLIO BY LINES OF BUSINESS
PREMIUM CEDED LIABILITY CEDED*
BELARUS RE ACHIEVING SUCCESS TOGETHER10
PERFORMANCE in 2015
Property33.21 %
Aviation31 .75%
Green Card1 3.35%
EAR7.72%
Other3.07%
Cargo2.75%
Financial risks2.73%
TIR Convention2.1 3%
CAT XL1 .76%
Space Risks1 .54%
Aviation88.46%
Property7.63%
EAR1.96%
Cargo0.88%
Other0.82%
Green Card0.14%
Financial risks0.10%
* The following diagram doesn’t take into account the Green Card cover (the limit of liability under this program is unlimited).
OUTWARD REINSURANCE PORTFOLIO
BELARUS RE ACHIEVING SUCCESS TOGETHER11
PERFORMANCE in 2015
SOGAZ28%
Lloyds syndicates20%
Insurers of Belarus10%
Foreing insurers and Reinsurers company
8%
SWISS RE7%
Other insurers and Reinsurers of Russia
5%
HANNOVER RUCKVERSICHER…
VIENNA INSURANCE
GROUP 3%
ALLIANZ GLOBAL CORPORATE & SPECIALTY AG
3%SCOR
3%
PARTNER REINSURANCE
EUROPE LIMITED2%
VTB INSURANCE LTD2%AMLIN
CORPORATE INSURANCE plc
2%
INSURANCE COMPANY EVRO-POLLICY
1%
UNITY RE1%
MUNICH RE 1%
MAX RETENTION LIMITS
Class of BusinessFacultative Reinsurance,
USD
Treaty Reinsurance,
USD
Property 20 000 000 2 000 000
CAR/EAR 20 000 000 2 000 000
Cargo 10 000 000 2 000 000
Aviation/Marine Hull (per each vessel/aircraft) 1 000 000 500 000
Launch of spacecraft 500 000 500 000
Orbital operation of spacecraft 500 000 500 000
Motor Hull (per each vehicle) 300 000 300 000
Third Party Liability:
• Civil liability of aircraft owners 6 000 000 6 000 000
• General liability for spacecraft launch 5 000 000 5 000 000
• Manufacturers civil liability insurance 1 000 000 1 000 000
• Civil liability of hazardous organizations 2 000 000 2 000 000
• Third party civil liability insurance 5 000 000 5 000 000
• Civil liability of carrier and forwarder 1 000 000 1 000 000
RETENTION POLICY
BELARUS RE ACHIEVING SUCCESS TOGETHER12
PREMIUMS/INDEMNITIES STRUCTURE
LOSSES
BELARUS RE ACHIEVING SUCCESS TOGETHER13
BYR ’000 000
487 996.0
22 961 .0
51 358.0
74 31 9.0
2015
Indemnity Premium received Share of Retrocessionaires Share of Belarus Re
337 41 9.0
7 1 05.0
26 905.034 01 0.0
2014
361 545.0
9 329.0
28 902.0
38 231 .0
2013
TOP LOSSES
BELARUS RE ACHIEVING SUCCESS TOGETHER14
Sum (USD) Date Details of the loss Reinsured Insured
1 960 000 14.02.2008Total loss of CRJ-100LR Aircraft while taking off. (Zvarnots
airport, Armenia)
PromtramsinvestBelavia
1 500 000 10.2011 Damage caused by flood (Thailand) Chaucer Syndicate 1084
1 309 545 19.09.2013The damage caused by the flooding at Zagorskaya PSP-
2 during construction (Russia)SOGAZ
OJSC Federal generating company
RusHydro
592 372 08.08.2008Liability Green Card. Damage to life and health caused as a
result of accident (Italy)Belgosstrakh «Pharvesttrans»
510 000 30.05.2013Business interruption caused by collapse of railway bridge
across the Abakan river due to landslipIngosstrakh RUSAL
500 437 22.04.2013 Total loss of spacecraft “SICh 2” due to loss of power supply Rosles Re SK Provita
500 000 18.08.2011 Express-AM4 Satellite insertion failure Ingosstrakh RSCC
AVIATION RISKS REINSURANCE
Since 2007 Belarus Re has been providing aviation risks reinsurance,including risks of national air carriers:
Belavia – Belarusian Airlines and Transaviaexport Airlines
National carriers’ air fleet:
Boeing 737-300/500 (15 Aircrafts)CRJ-100/200 LR (4 Aircrafts)
Embraer 175 (2 Aircrafts)Embraer 195 (2 Aircrafts)
Boeing 737-800 (2 Aircraft)
Boeing-767-300ER (1 Aircraft)Challenger - 850 CL-600-2819 (1 Aircraft)
Тu-154 (3 Aircrafts)IL-76 TD (5 Aircrafts)
Risks are placed on facultative quota share basisPlacing broker – JLT Specialty Limited/ AXIOM INRE Insurance Brokers
Limits of liability under reinsurance contracts:
Aviation hull – up to 43,0 m USD Airline liability – up to 750 m USD
Retrocessionaires:
Lloyd’s Syndicates Assicurazioni Generali S.p.A.
Allianz Global Corporate & Specialty AG Swiss Re
Partner Re Munich Re
Aviabel Aspen Insurance UK Limited
SOGAZ General Insurance Corporation of India
Korean Reinsurance Company VTB Insurance LTD
RETROCESSION
BELARUS RE ACHIEVING SUCCESS TOGETHER15
PROPERTY, ENGINEERING AND CARGO RISKS
RETROCESSION
BELARUS RE ACHIEVING SUCCESS TOGETHER16
*Basis of the treaty – excess of loss basis per risk/ per event
GREEN CARD CERTIFICATES REINSURANCE
* Basis of the treaty – excess of loss basis per risk/ per event
**Given Net Retention volume is for a whole Belarusian insurance market
RETROCESSION
BELARUS RE ACHIEVING SUCCESS TOGETHER17
REINSURANCE WITHIN T.I.R. CONVENTION
RETROCESSION
BELARUS RE ACHIEVING SUCCESS TOGETHER18
*Type of contract – quota share treaty
14-2, Chkalov Str., 220039 Minsk, Belarus
Web address www.belarus-re.com
Mail to [email protected]
Director General
Reinsurance Division
Actuarial Department
Loss Settlements Department
Analysis & Risk Management Dept.
Accounting Department
tel./fax: (+375 17) 256 07 11
tel.: (+375 17) 256 04 11
fax: (+375 17) 256 05 77
tel.: (+37517) 256 05 06
tel.: (+37517) 224 42 79
tel.: (+37517) 256 06 23
tel.: (+37517) 256 05 93
BELARUS RE
CONTACT INFORMATION
BELARUSIAN NATIONAL REINSURANCE ORGANIZATIONBELARUS RE ACHIEVING SUCCESS TOGETHER19