Bulgarian insurance market reported FY2024 GWP worth BGN 4.68 billion (EUR 2.39 billion), up 6.5% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 5.9% to BGN 774 million, while non-life insurers' GWP rose by 6.67% to BGN 3.9 billion. Overall, the portfolio structure remained almost unchanged.

The assets managed by Bulgarian insurance companies rose by 6.6% y-o-y to BGN 11.5 billion (EUR 5.9 billion) at the end of 2024, SeeNews reports with reference to the central bank.

Bulgarian diversified group Doverie United Holding announced the completion of the sale of its subsidiary United Health Insurance Fund Doverie to Netherlands-based insurer Generali CEE Holding, part of Italian Generali Group, for BGN 22 million (EUR 11.2 million), SeeNews reports.

Bulgarian insurance market reported 3Q 2024 GWP worth BGN 3.49 billion (EUR 1.78 billion), up 6.05% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 9.5% to BGN 584.94 million, while non-life insurers' GWP rose by 5.37% to BGN 2.9 billion.

Euroins Bulgaria, one of the leading Bulgarian insurers in Eastern Europe, part of Euroins Insurance Group AD (EIG) and Eurohold, the largest Bulgarian publicly-listed holding, is in the process of increasing its capital through the issuance of 25 million new shares, which will raise a total of BGN 100 million (EUR 51.1 million) of its own funds.

Nikolay Stanchev, Chairman of the Board of the Association of Bulgarian Insurers (ABZ) and CEO of Generali Bulgaria, speaking about the main trends and prospects of the insurance market in Bulgaria, pointed out that in recent years the market has been developing steadily, and life insurance maintains a good growth rate (9% for the first six months of 2024).

According to Vesselin Angelov, member of the Board of Directors of the Association of Bulgarian Insurers (ABZ), about 85% of people in Bulgaria live in their own homes, but only about 8% of them are insured. However, in recent years, a positive trend has been observed - the share of insured homes is gradually increasing, ABZ writes.

The assets managed by insurance companies operating in Bulgaria amounted to nearly BGN 11.3 billion (EUR 5.8 billion) at the end of September, growing by 8.8% y-o-y, SeeNews writes with reference to the central bank.

Fitch Ratings has maintained at B+ the insurer financial strength (IFS) rating of Bulgaria's Insurance Company Euroins, the main operating subsidiary of Euroins Insurance Group (EIG), part of Eurohold Bulgaria, with a stable outlook, as SeeNews reports.

Bulgarian insurers wrote gross premiums worth EUR 1.19 billion in the first half of 2024, which is by 3.3% over the 1H2023 result. According to data provided by the market authority, life insurance GWP accounted for EUR 203.5 million, 9% up y-o-y, while non-life GWP reached EUR 989.9 million, 2.7% up y-o-y.

At the end of March 2024, the insurance market in Bulgaria totaled EUR 574.66 million, down by almost 1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.

The insurance market in Bulgaria can be characterized by positive dynamics and sustainable growth, as over the past 10 years, premium income has increased more than 2.5 times, reaching BGN 4.4 billion (EUR 5.49 billion) in 2023, with annual growth of 21%, according to Veselin Angelov, member of the Board of Directors of ABZ and executive director of Allianz Bulgaria, the Association wrote.

At the end of June, 2024, the assets managed by insurance companies operating in Bulgaria reached BGN10.82 billion (EUR 5.5 billion), which indicates a 6% increase y-o-y, SeeNews reports referring to the Central Bank’s statement.

The assets of Bulgarian insurance companies reached BGN 10.74 billion (EUR 5.49 billion) at the end of March, which indicates a y-o-y rise of 4.5%, SeeNews reports referring to the Central Bank’s statement.

Bulgarian insurance market reported January-December 2023 GWP worth BGN 4.38 billion (EUR 2.24 billion), up by 21.29% y-o-y, according to the official figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 16% to BGN 725.50 million, while non-life insurers' GWP rose by 22.39% to BGN 3.66 billion.

According to data from two consecutive surveys by MoitePari.bg and ABZ, within one year the share of people who purchased home insurance has increased by 7%, said Nina Kolchakova, General Secretary of the ABZ, Association of Bulgarian Insurers reports.

For the sixteenth consecutive year, the most prestigious annual awards in the insurance and pension insurance sector in Bulgaria will be presented - "Insurer of the Year", "Pension Insurance Company of the Year", "Insurance Broker of the Year", ABZ (Association of Bulgarian Insurers) announced.

Bulgaria's competition authority said it approved the takeover of local insurance broker SDI Group by Poland's Unilink, a subsidiary of US financial technology and insurance holding Acrisure, SeeNews wrote.

The insurance sector in Bulgaria experienced sustained growth in 2023, and as a result of the pandemic, people are increasingly thinking about protecting their health and life, not just their cars, Ivana Dimova, a member of the Board of Directors of the ABZ (Association of Bulgarian Insurers) believes.

Bulgarian insurance market reported January-September 2023 GWP worth BGN 3.29 billion (EUR 1.68 billion), up by 24.21% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 20.63% to BGN 533.99 million, while non-life insurers' GWP rose by 24.93% to BGN 2.75 billion.