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 3Q2021 I N S Companies Rankings

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Bulgaria 3Q2021 Market Portofolio


See all statistics

Latest news

Bulgaria: Insurers' Q3 net profits expanded by 37% y-o-y to EUR 124 m

Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.





Eurohold will hold over 88% of CEZ Distribution and more than 69% of CEZ Electro

The majority shareholder of CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD - Eastern European Electric Company B.V. (EEEC), part of urohold Bulgaria AD, will increase its interests in the two companies to 88.2% and 69.3% of the capital, respectively, as a result of the public tender offers carried out and following the completion of the deals with the shareholders that have accepted the offers.








STATISTICS: Bulgarian market posted 6% increase in Q1 GWP

Bulgarian insurance market totaled BGN 807 million (EUR 413 million) at the end of March 2021, up by 6.1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.

Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.


ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with
GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.

Bulgarian insurers posted Q1 profits of EUR 40 m

Bulgarian insurance market posted aggregate quarterly profit of BGN 78.2 million (EUR 40 million), about 63% more as compared with the snapshot at 31 March 2020 (BGN 47.9 million/EUR 24.5 million), according to the market statistics published on FSC website.