Bulgaria's financial regulator (FSC - Financial Supervision Commisssion) announced it appointed external administrator to manage the assets of local specialised health insurer NADEJDA.

Bulgarian insurers ended 2016 with a 4.4% y-o-y growth in GWP, to BGN 2.05 billion (EUR 1.05 billion), while the aggregate value of net profit more than doubled, reaching EUR 61.68 million.

Bulgaria's insurance companies and pension funds are stable, though five small insurers will have to raise funds to meet capital requirements, an asset and a balance sheet review carried by the financial regulator showed on Friday, Reuters reports.

At the end of September 2016, the Bulgarian insurance market totaled about EUR 781 million, 8% more y-o-y, statistical data published by the FSC - Financial Supervision Commission show. Life insurers ended the first three quarters with an aggregate profit of EUR 16.9 million (vs. EUR 12.3 million in 3Q2015), while the non-life insurers reported an aggregated after tax result of EUR 33.1 million (vs. EUR 29.6 million).

Belgian-based KBC Group (KBC) and the National Bank of Greece (NBG), the Greek parent company of United Bulgarian Bank (UBB), reached agreement for KBC to acquire ownership of UBB (99.9%) - the fourth-largest bank in Bulgaria in terms of assets and INTERLEASE (100%), the third-largest provider of leasing services in the country, for a total consideration of EUR 610 million.

Hosted by NTT Data, Monday took place in Munich, Germany, the third edition of the International Insurance Forum series dedicated to the property insurance issues: "The Nat Cat challenge". Participants from 13 countries have attended the event produced by XPRIMM.

The 2017 edition of the XPRIMM Property insurance report has met its first readers on the occasion of IIF 2017 - The NatCat Challenge, the event which took place on 26 June, in Munich.