Bulgaria

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe, bordering the Black Sea;
- Neighbours: Turkey, Greece, Macedonia, Serbia, Romania.

Climate:
- temperate;
- cold, damp winters;
- hot, dry summers coast.

Natural hazards:
- earthquakes;
- landslides.

Macro indicators
* 2018 estimates
Surface:110,994km2
Population*:7.0million
Pop. density*:63.2people/km2
GDP*:55.0EUR billion
GDP/capita*:7,844.0EUR

European Union:
EU member, since 2007

Currency: Lev
Code: BGN
Since: 1999

Exchange rates:
1 EUR = 1.95583 BGN (fixed)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:18%
TOTAL NON-LIFE*:82%
Overall Property*:11%
Overall Motor*:61%


Sources:



 


Statistics

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Bulgaria 3Q2020 Market Portfolio

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Bulgaria 3Q2020 Insurance Companies Rankings


See all statistics

Latest news

BULGARIA: FSC postpones European Single Electronic Format (ESEF) reporting by one year

In 2013, the European Directive 2013/50/EC pushed all annual financial statements of issuers whose securities are admitted to trading on regulated markets in the EU to be drawn up in a single electronic reporting format (ESEF), starting from 1 January 2020. Because of the COVID-19 pandemic, the Financial Supervision Commission of Bulgaria (FSC) decided to postpone for one more year the implementation, allowing the companies to focus on the management of the pandemic crisis.





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

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.






BULGARIA: about 21,000 drivers will pay four times more for civil liability

According to the Chairman of the Financial Supervision Commission (FSC), Boyko ATANASOV, the proposed new Bonus-Malus system was well-balanced for drivers. About 21,000 drivers will pay more (about 4 times) for their civil liability insurance, as the data of the Insurers Association show.



Former SOGELIFE Bulgaria to be held again by a French group

Bulgarian Commission for Protection of Competition announced this week that it approved the fully aquisition of EXPRESS Life Insurance (former SOGELIFE Bulgaria) by the local subsidiary of French insurer GROUPAMA, after about two weeks before the transaction received the "green light" from the Bulgaria's Financial Supervision Commission.