Belarus: Foreign capital in insurance market on the rise

The footprint of foreign insurers in the Belarusian insurance market is increasing, with the Belarusian Association of Insurers saying the presence of foreign capital has increased by more than 60% over the last three years, Forinsurer reported.

Russian insurers – including OAO Rosgosstrakh – are among foreign insurers having the biggest presence in the Belarusian market, a market that is much smaller than the Russian insurance market. However, Belarusian authorities are not concerned over the increasing foreign presence and hope the foreign capital influx will boost competition.

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