STATISTICS: BULGARIA 1Q 2018: GWP up to more than EUR 300 million

The total GWP by Bulgarian insurers in 1Q 2018 was BGN 608.07 million (EUR 310.90 million), up by 6.28% y-o-y, according to the quarterly statistics published on the FSC's website.

The value of paid claims decreased by 8.1% to BGN 253.52 million (EUR 129.62 million).

Bulgaria's non-life insurance sector accounted for more than 80% of total market. In absolute values, the non-life GWP increased by an annual rate of 8.38% to BGN 487.34 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 more than two third of the total GWP (~69.77%).

LEV INS was the largest non-life insurer in the country with GWP of about BN 64 million (13.11% market share), while the life insurance segment was led by BULSTRAD Life VIG - GWP of BGN 29.56 million, the equivalent of 24.48% market share.

Access www.xprimm.com and download the 1Q2018 Bulgarian insurance market statistics (in EUR and BGN).

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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