BULGARIA: Insurers' aggregated assets, at market level, up by 7.7%

10 September 2020 — Daniela GHETU
Bulgarian insurers' total assets increased by 7.7% y-o-y, data provided by the Bulgarian Central Bank as of June 30, show. At the same time, the number of market players decreased by 1 unit, to 51 companies. The scope of the statistics also includes the data for the branches of insurers headquartered outside Bulgaria.

In the life insurance sector, the number of companies decreased by 1 unit, to 14, while the assets volume increased by 8.6% y-o-y, to BGN 2.54 billion (EUR 1.3 billion). The number of non-life insurers remained constant (37), while the total value of their assets went up by 7.3%, to BGN 6.2 billion (EUR 3.18 billion). This figure includes the BGN 2.7 billion assets of the single player operating in the reinsurance field.

In currency terms, 41.6% of the total assets are held in local currency (Bulgarian Leva), while 33.67% are placed in European currency. The remaining 24.7% of the total assets are held in USD or other foreign currencies.

Securities other than shares (47%), Shares and other forms of ownership (14.64%) and receivables from insurance operations (11.53%) are the main classes of instruments in the insurance market's assets portfolio. The placements in shares have increased y-o-y by 18%, to BGN 1.28 billion, while placements in securities increased by 4%m to BGN 4.1 billion. The entire volume of investments is placed in almost equal parts in Bulgaria and other EU countries.

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