BULGARIA, UNIQA: Impressive growth in the first ten months of 2011

24 January 2012 — Vlad BOLDIJAR
BULGARIA, UNIQA:  Impressive growth in the first ten months of 2011
uniqa5In the first ten months of 2011, UNIQA achieved excellent growth of 20.7% in Bulgaria, while, in the same period, the entire insurance market increased by 0.6%. Together, UNIQA Insurance and UNIQA Life Insurance improved the premium volume by around EUR 7.4 million (around BGN 14.5 million) to more than EUR 43 million (over BGN 84 million) compared to the same period of 2010 and thus secured 7th place.

"We are very satisfied with our above-average growth in all segments. As one of the top insurance companies, our more than 100 sales offices means we are very close to our customers - and this proximity and the associated levels of service strengthen customer confidence", declared Nikolai GENCHEV, CEO of UNIQA Insurance in Bulgaria.

According to Wolfgang KINDL, CEO of UNIQA International AG, "the positive development is proof that we are taking the right approach with our long-term strategy of sustainable growth, even in difficult market circumstances, and that UNIQA is well positioned. The quality of our products and services has enabled us to continuously expand our market position in Bulgaria and develop the trust of many new customers".

On the life insurance segment, UNIQA increased the premium volume more than 32%. This growth puts the company on 3rd place in the market, with a premium volume of EUR 11.6 million (BGN 22.6 million).

On the non-life segment, UNIQA Insurance achieved impressive growth of around 17%, despite sluggish development of the market (+0.5%). This enabled UNIQA to also overtake a competitor in the non-life segment to reach 7th place, with premium volume amounting to EUR 31.6 million (BGN 61.7 million).

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