STATISTICS: Bulgaria FY2017: Insurers' profits decreased by 4.8% y-o-y to EUR 52.6 million
Non-life insurers ended the year with an aggregate net profit of BGN 74.17 million (EUR 37.92 million) vs. BGN 77.57 million (EUR 39.66 million) in 2016 (consolidated data). Of overall 26th non-life insurers, the largest profits were reported by ENERGIA (+EUR 7.76 million), DZI General Insurance (+EUR 6.38 million) and ALLIANZ Bulgaria (+EUR 5.66 million), while the largest loss was reported by UNIQA Insurance (EUR-1.21 million).
On the life insurance side, the Bulgarian insurance market closed the year with an aggregated profit after tax amounting to BGN 28.66 million (EUR 14.65 million) vs. BGN 30.45 million (EUR 15.57 million) a year before. Of 13th active life insurers, only one company ended the year "in red" (EUROINS Life Insurance, net loss of EUR -0.19 million), while the top 3 most profitable life insurers were DZI Life Insurance (+EUR 4.39 million), ALLIANZ Bulgaria Life (+EUR 3.69 million) and UBB-MetLife (+EUR 2.09 million).
In terms of GWP, life insurance market totalled BGN 449.21 million (EUR 229.68 million) or 4.93% more y-o-y due the increase of unit-linked segment by more than 19.74%. ALLIANZ Bulgaria Life, BULSTRAD Life VIG and UNIQA Life were the Top 3 life insurance market leaders, with an aggregate market share of 58.96% of the total life GWP.
The non-life insurance sector generated 79.59% of the total insurance market, the equivalent of BGN 1.75 billion (EUR 895.83 million), up by 8.18% y-o-y. BULSTRAD VIG, LEV INS and ARMEEC were the Top 3 non-life insurers in the country, accounting together 34.56% of this segment.
Access www.xprimm.com and download the FY2017 Bulgarian insurance market statistics (in EUR and BGN).
- Gross written premiums
- Paid claims
- Growth rates
- Life and non-life rankings