State Unitary Enterprise

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State Unitary EnterpriseBelarusian National
Reinsurance Organization
WORKING WITH US YOU WORK WITH ENTIRE COUNTRY
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FEATURES OF BELARUSIAN INSURANCE MARKET
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
Insurance market participants are 24 operating
companies (20 of which perform non-life
insurance, including 1 organization - reinsurance
only), 4 - life insurance and 4 insurance brokers.
There are four state-owned companies in the
market (BELGOSSTRAKH, BELARUSIAN NATIONAL
REINSURANCE ORGANIZATION, EXIMGARANT OF BELARUS,
STRAVITA) and four companies have effective state
participation of more than 50 (BELKOOPSTRAKH,
BELNEFTESTRAKH, PROMTRANSINVEST,TASK). The
total net worth of Belarusian insurance companies
as at 1 October 2009 made EUR 454,9 m.
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ORGANIZATION ESTABLISHMENT
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
State Unitary Enterprise Belarusian National
Reinsurance Organization was established by the
resolution of the Council of Ministers of the
Republic of Belarus as of 4 November 2006 No.1463
On Establishment of Belarusian National
Reinsurance Organization in accordance with the
Decree of President of the Republic of Belarus
dated as of 25 August 2006 No.530 On Insurance
Operations and is subordinated to the Ministry
of Finance.
The founder of Belarusian National Reinsurance
Organization is the Council of Ministers of the
Republic of Belarus. As at 1 January 2010, the
organizations authorized fund and net worth
made EUR 112,2 m and EUR 114,9 m respectively.

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PLACE AND ROLE on Belarusian Insurance Market
BELARUSIAN NATIONAL REINSURANCE ORGANIIZATION

• Legislation of the Republic of Belarus provides a
  number of actions aimed at regulation of
  reinsurance activity in the country
• Since 1 January 2010, transfer 50 of the
  undertaken liabilities under each contract of
  voluntary non-life insurance, exceeding
  legislative standard of liability, to SUE
  Belarusian National Reinsurance Organization
• SUE Belarusian National Reinsurance
  Organization is the sole company which
  cooperates with foreign insurance and reinsurance
  organizations on placing risks insured on the
  territory of the Republic of Belarus
• The implementation of coordinated with SUE
  Belarusian National Reinsurance Organization
  tariff policy upon conclusion of large risks
  insurance contracts, where liability exceeds net
  retention of insurance companies.

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STRATEGY
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION

• Strategic goal creation of an international
  reinsurance company, offering a full range of
  reinsurance services and providing its clients
  with comprehensive protection according to
  international standards.
• Activities to achieve the goal
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• further development of cooperation with
  insurance companies of the Republic of Belarus,
  including assumption of risk not requiring
  obligatory reinsurance
• development of cooperation with insurance and
  reinsurance companies in the CIS and Western
  Europe market
• improvement of the organizational structure, as
  well as implementation of advanced technologies
  and methods in the field of Underwriting
• international financial rating assignment
•  implementation of effective investment policy
•  creation of favourable conditions for
  professional growth and creativity of employees.

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CORE FIGURES
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
POSITION 2007 2008 2009
Number of contracts 2 047 4 503 4 741
Premium written, EUR 000 1 886,9 7 682,8 12 513,3
Premium received, EUR 000 1 074,9 7 239,1 11 075,5
Premium ceded, EUR 000 296,1 4 000,9 6 920,1
Payments, EUR 000 376,4 1 854,7 2 576,5
Liability accepted, EUR 000 000 1 997,6 9 307,3 17 984,1
Actuarial reserves, EUR 000 458,5 1 345,1 1 578,1
Authorized fund, EUR 000 17 254,9 110 042,6 112 245,5
Net worth, EUR 000 18 200,0 111 325,5 114 966,8
Net profit, EUR 000 974,7 1 329,8 2 712,5
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PERFORMANCE for 2007- 2009Number of Contracts
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2007 2009Reinsurance Premium
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2007 2009 Amount of
Liability
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2009Inwards Reinsurance
Portfolio Lines of Business
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2009Inwards Reinsurance
Portfolio Classes Forms of Reinsurance
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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INWARDS REINSURANCE TREATIES 2009
BERLARUSIAN NATIONAL REINSURANCE ORGANIZATION
Moscow Re (property, CAR/EAR) Ingosstrakh
(aviation hull, liability) M.S. Pritchard
Esquire (catastrophe) Avicos (aviation hull,
liability) Profile Re (property, CAR/EAR,
cargo) Afes (aviation hull, liability) Transsib
Re (liability, accidents) Leader Re (property,
CAR/EAR, liability)
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PERFORMANCE for 2009 Outwards Reinsurance
Portfolio Lines of Business
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2009 Outwards Reinsurance
Portfolio Participants
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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PERFORMANCE for 2009Outwards Reinsurance
Portfolio Financial Strength Rating
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
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GREEN CARD
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
Since 1 June 2007, the Republic of Belarus is a
full member of the international Green Card
system. The insurance companies of the Republic
of Belarus, that are entitled to enter into
Green Card Belarusian Certificates Insurance
Contracts, signed liability reinsurance treaty
agreement under these contracts with SUE
Belarusian National Reinsurance
Organization. Since 2010, net retention of the
national insurance market under the Green Card
Belarusian Certificates Reinsurance Contract has
been increased from EURO 260 000 to 500 000. The
Leading Reinsurer of Green Card Belarusian
Certificates is Partner Re with the cooperation
of such companies as Munich Re, Hannover Re,
SCOR, Polish Re, Sava Re, Aspen Insurance UK,
Everest Reinsurance, QBE Insurance and Lloyds
syndicates. The placing broker of Belarusian
Green Card programme is Beauchamp Savrassov
Limited. SUE Belarusian National Reinsurance
Organization participates in reinsurance of
Green Card Belarusian Certificates on the first
and the second layers of the reinsurance
treaty. Estimated premium income of Belarusian
insurance companies in 2010 under the Green
Card Belarusian Certificates Insurance Contracts
is EURO 15 300 000.
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REINSURANCE within TIR CONVENTION 1975
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
Quota Share Reinsurance and Retrocession
Contract was signed between Belarusian Insurance
and Reinsurance Companies and R.L. Davison
Co. Ltd. under which State Unitary Enterprise
Belarusian National Reinsurance Organization
reinsures 65 of liability under the contract
having 15 of net retention and placing 50 in
Lloyds syndicates.
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Property and Engineering RisksExcess of Loss
Reinsurance
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
The limit of the treaty is USD 15 m The Leader
is SCOR The placing broker is Cooper Gay
(Eastern Europe) Ltd. The net retention of SUE
Belarusian National Reinsurance Organization is
USD 1,5 m The coverage is provided on three
layers 1 layer USD 2,0 m in excess
of USD 1,5 m
2 layer
USD 5 m in excess of USD 3,5 m

3 layer USD 6,5 m in excess of USD
8,5 m The territorial scope is the Republic of
Belarus and Belarusian interests abroad, other
areas under Leaders special acceptance.
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MAJOR LOSSES
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
Trans Pacific" General Average - 30 January
2008 The shipowners announcement about the
general average related to vessel grounding to
the east of Samso Island, Denmark, conducting the
voyage from the port of Ventspils, Latvia, to the
port of New Orleans, USA. The amount of
Indemnity paid by SUE Belarusian National
Reinsurance Organization USD 245
376. CRJ-100LR Aircraft Accident 14 February
2008 An accident, while taking off on February
14, 2008 at 00.19 (time UTC) of CRJ-100LR EW-101
PJ aircraft in Zvarnots, Yerevan airport, en
route Yerevan-Minsk. There was a total loss of
the aircraft. The amount of Indemnity paid by SUE
Belarusian National Reinsurance Organization
USD 1 960 000. Pipeline breaking while
transporting oil products LPDSN9N-3P 14
February 2008 On 14 February, 2008, there
occurred a rupture and leakage of the oil
product, that got in flood-plain basin of the
river Dnieper, at 422 km of the main oil pipeline
LPDSN9N-3P Unecha-Rovno, operated by PUE
Zapad-Transnefteprodukt The damage to the
environment was caused. The amount of Indemnity
paid by SUE Belarusian National Reinsurance
Organization USD 156 698. Export- import
risks July-August 2009 SUE Minsk Tractor
Works and Belavto Ltd concluded an export
contract for delivery of tractors to the Republic
of Kazakhstan. The contractors insolvency led to
the failure to comply with terms and conditions
of the export contract in respect of payment. The
amount of Indemnity paid by SUE Belarusian
National Reinsurance Organization under
short-,medium- and long-term export contracts
against political and commercial risks made USD
1 039 230. .
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MAXIMUM RETENTION LIMITS
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
Type of Reinsurance Facultative reinsurance, Gross retention, USD, up to Treaty reinsurance, Gross retention, USD, up to
Property Property Property
Commercial Property 15 000 000 1 500 000
CAR/EAR 15 000 000 1 500 000
Non-commercial Property 15 000 000 1 500 000
Title Insurance 100 000 -
Aviation, Marine and Cargo Aviation, Marine and Cargo Aviation, Marine and Cargo
Aviation Hull 1 000 000 500 000
Aviation Liability 5 000 000 1 000 000
Marine Hull 1 000 000 500 000
Marine Liability 1 000 000 500 000
Cargo 1 500 000 500 000
Type of Reinsurance Facultative reinsurance, Gross retention, USD, up to Treaty reinsurance, Gross retention, USD, up to
Motor Transport Motor Transport Motor Transport
Motor (per each vehicle)
Hull 300 000 150 000
TPL 100 000 50 000
Accident Reinsurance Accident Reinsurance Accident Reinsurance
Accident Insurance (sum insured per each the insured person) 250 000 100 000
Financial risks, Professional Indemnity Insurance Financial risks, Professional Indemnity Insurance Financial risks, Professional Indemnity Insurance
including
Professional Liability 500 000 250 000
General Liability 500 000 250 000
Products Liability 500 000 250 000
FINANCIAL RISKS 500 000 250 000
Limits of liability on each and every contract
may vary from the above-mentioned subject to risk
exposure
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BELARUSIAN NUCLEAR INSURANCE POOL
BELARUSIAN NATIONAL REINSURANCE
ORGANIZATION

• On 5 March 2009, under the guidance of Belarusian
  National Reinsurance Organization there was
  created Belarusian Nuclear Insurance Pool, the
  aim of which is the insurance of risks in
  relation to engineering, construction and
  operation of NPP, as well as reinsurance of
  Belarusian and foreign nuclear risks.
• Risks insurance is provided by 6 companies and
  out of these 2 state companies (Belgosstrakh,
  Eximgarant of Belarus), 4 with state
  participation of more than 50 (Belkoopsrakh,
  Belneftestrakh, PromtransInvest, TASK). The
  Leader is Belgosstrakh. Belarus Re provides
  reinsurance protection.
• By now there have been concluded reinsurance
  contracts with Ukrainian Nuclear Insurance Pool
  on risks of NAEC ENERGOATOM, and with Russian
  Nuclear Insurance Pool on risks of OJSC
  Energoatom Concern.

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RATING
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
In August 2007, an international rating agency
Standard Poors assigned long-term credit
rating to the Republic of Belarus which is B.
In January 2009, this rating was
confirmed. Standard Poors also emphasizes the
economy of the Republic of Belarus is one of the
wealthiest and most developed among countries of
the B category with stable budget tax and trade
position of the country. At present, State
Unitary Enterprise Belarusian National
Reinsurance Organization in cooperation with the
international rating agency Standard Poors is
carrying out all necessary work on the issue of
financial strength rating assignment. Financial
strength rating is planned to be assigned in the
first half-year of 2010.
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BELARUSIAN NATIONAL REINSURANCE ORGANIZATION

• OUR PARTNERS

The Republic of Belarus Belgosstrakh,
PromTransInvest, Eximgarant of Belarus,
Belneftestrakh, TASK, Belkoopstrakh, BB
Insurance Co, Belvneshstrakh, Belingostrakh,
Belrosstrakh, Victoria, Garantia, Generali, Delta
Insurance, KENTAVR, Kupala, BAGACH, ZEPTER
INSURANCE, ERGO. FOREIGN COMPANIES Russian
Federation Ingosstrakh, SOGAZ, Kapital
Reinsurance, Moscow Reinsurance Company and other
companies. Other countries Lloyds syndicates
(UK), Munich Re (Germany), Hannover Re (Germany),
Amlin Corporate Insurance (UK), SCOR (France),
Partner Re (Switzerland), Polish Re (Poland),
Allianz Group, Vienna Insurance Group (Austria),
Eurasia (Kazakhstan). Broker companies Willis
Limited (UK), Beauchamp Savrassov Ltd (UK),
R.L.Davison Co Ltd (UK), Cooper Gay (Eastern
Europe) Ltd (UK), Filhet- Allard Maritime
(France), MALAKUT (Russia) and others.
Belarus Re cooperates with more than 70
companies from 17 countries.
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CONTACT INFORMATION
BELARUSIAN NATIONAL REINSURANCE ORGANIZATION
STATE UNITARY ENTERPRISE BELARUSIAN NATIONAL
REINSURANCE ORGANIZATION Minsk, Republic of
Belarus 14, Chkalov St. 220039 E-mail
info_at_belarus-re.com Web www.belarus-re.com Dire
ctor General tel./fax [phone]
11 Reinsurance Department
tel. [phone] fax [phone]
77 Business Development, International
Cooperation Advertising Department
tel. [phone]
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