STATISTICS: BULGARIA: A property insurer - the most profitable market player at the end of September 2016

At the end of September 2016, the Bulgarian insurance market totaled about EUR 781 million, 8% more y-o-y, statistical data published by the FSC - Financial Supervision Commission show. Life insurers ended the first three quarters with an aggregate profit of EUR 16.9 million (vs. EUR 12.3 million in 3Q2015), while the non-life insurers reported an aggregated after tax result of EUR 33.1 million (vs. EUR 29.6 million).

Eleven life insurers (of 15) ended the period "in black", the most profitable being DZI LIFE (EUR 6.1 million), followed by ALLIANZ Bulgaria Life (EUR 3.2 million) and UBB-METLIFE (EUR 2.7 million). At the same time, the largest loss was reported by EUROINS Life Insurance (EUR 325.7 thousand).

Of 29 non-life insurers, 20 reported profits, while the remaining 9 ended the period "in red". The most profitable insurers were ENERGIA (EUR 9.0 million). ENERGIA is a "property specialised insurer". In the analysed period the company reported GWP of about EUR 20 milion (ranked 12th with 3.3% market share), of which more than 97% was generated by the "fire and other perlis" subclass.

"Top 3 profitable insurers" was completed by ALLIANZ Bulgaria (EUR 5.5 million) and DZI - General Insurance (EUR 5.2 million), while the largest loss was reported by UNIQA Insurance (EUR 890.2 thousand).

In terms of GWP, on the life segment the market leader was ALLIANZ Bulgaria Life (26.3% market share), while the non-life ranking was lead by BULSTRAD VIG with a market share of 12.4%.

Access www.xprimm.com and download the 3Q2016 Bulgarian insurance market statistics (in EUR and BGN).
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Life and non-life rankings
  • Market shares

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

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