STATISTICS: BULGARIA 1Q 2017: GWP up by 9.7%

The total GWP by Bulgarian insurers in 1Q 2017 was BGN 572 million (EUR 293 million), up by 9.7% y-o-y, according to the quarterly statistics published on the country's financial regulator website.

The value of paid claims was up by 8.1% to BGN 257 million (EUR 131 million).

Bulgaria's non-life insurerance sector accounted for 78.6% of total market. In absolute values, the non-life GWP increased by an annual rate of 10.2% to BGN 450 million. In terms of GWP, the main non-life sub-segments were the two motor insurance classes (MTPL and motor hull) and the property insurance line (fire, allied perils and damages to property, summed). The three mentioned business lines generated two third of the total GWP (~66.3%).

In case of life insurers, the reported value of GWP was BGN 122 million, which represents a growth of 7.8% from a year earlier. Of this total, the largest shares were accounted by the unit-linked products (BGN 14.5 million) and traditional policies (BGN 82 million), respectively.

Access www.xprimm.com and download the 1Q2017 Bulgarian insurance market statistics (in EUR and BGN).

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