Bulgaria
EUROHOLD Bulgaria, H1 2020 results: insurance revenues offset the reduced incomes from leasing and sales sales due pandemic
Bulgarian financial group EUROHOLD, increased its H1 2020 revenues by the insurance business line in the context of the COVID-19 pandemic, according to the holding's consolidated financial statement for the period January-June 2020.
29 September 2020BULGARIA: Insurers' aggregated assets, at market level, up by 7.7%
Bulgarian insurers' total assets increased by 7.7% y-o-y, data provided by the Bulgarian Central Bank as of June 30, show. At the same time, the number of market players decreased by 1 unit, to 51 companies. The scope of the statistics also includes the data for the branches of insurers headquartered outside Bulgaria.
10 September 2020STATISTICS: BULGARIA, 1Q2020: Life insurers turned on loss while non-life insurers' net profit expanded by one third
Bulgarian insurance market totaled about BGN 760 million (EUR 389 million*) at the end of March 2020, up by 1.58% y-o-y, according to data from the Financial Supervision Commission - FSC.
2 July 2020BULGARIA: GROUPAMA Life Insurance gets regulatory nod to absorb GROUPAMA EXPRESS Life
Bulgaria's Financial Supervision Commission announced that it approved that local life insurer GROUPAMA Life Insurance to absorb its other life unit: GROUPAMA EXPRESS Life.
18 May 2020STATISTICS: BULGARIA, FY2019: insurers reported impressive growth-rates in GWP and profitability
Bulgarian insurers reported FY2019 GWP of BGN 2.9 billion (~EUR 1.5 billion), about 15% more y-o-y, according to year-end market statistics published by FSC. During the period, Bulgarian insurers paid claims worth of EUR 620.2 million, 8.4% more y-o-y, of which about EUR 530 million being related to non-life LoBs.
12 March 2020Fitch Ratings affirms Russia, Kazakhstan, Georgia, Turkey, Bulgaria and Hungary
During February 2020, Fitch Ratings, the leading provider of credit ratings, affirmed the ratings of Russia ('BBB'), Kazakhstan ('BBB'), Georgia ('BB'), Turkey ('BB-'), Bulgaria ('BBB') and Hungary ('BBB').
3 March 2020Two CEOs of VIG Group companies honoured as managers of the year
VIENNA Insurance Group announced two of the top women managers in the Group - Svetla NESTOROVA (Bulgaria) and Sabina MUJANOVIC (Bosnia-Herzegovina), recently received major awards for their performance in 2019.
21 January 2020BULGARIA: about 21,000 drivers will pay four times more for civil liability
According to the Chairman of the Financial Supervision Commission (FSC), Boyko ATANASOV, the proposed new Bonus-Malus system was well-balanced for drivers. About 21,000 drivers will pay more (about 4 times) for their civil liability insurance, as the data of the Insurers Association show.
7 January 2020STATISTICS: BULGARIA, 3Q2019: Non-life units of DZI, GENERALI and ALLIANZ were the most profitable Bulgarian insurers at the end of third quarter
Bulgarian insurers reported nine months aggregate GWP of BGN 2.18 billion (EUR 1.11 billion), 17.17% more y-o-y, according to quarterly market statistics published by FSC.
28 November 2019BULGARIA: The CPC has prohibited the acquisition of CEZ's undertakings by EUROHOLD
The Bulgarian Commission on Protection of Competition - CPC decided to prohibit the acquisition of CEZ's undertakings in Bulgaria by financial group EUROHOLD Bulgaria
7 November 2019Former SOGELIFE Bulgaria to be held again by a French group
Bulgarian Commission for Protection of Competition announced this week that it approved the fully aquisition of EXPRESS Life Insurance (former SOGELIFE Bulgaria) by the local subsidiary of French insurer GROUPAMA, after about two weeks before the transaction received the "green light" from the Bulgaria's Financial Supervision Commission.
24 October 2019STATISTICS: BULGARIA, 1H2019: MTPL and the sickness insurance line were the main growth drivers
Bulgarian insurers have achieved GWP worth EUR 755.6 million in 1H2019, 20.4% up y-o-y. Paid claims increased, at the same time by 10.8%, to EUR 295.76 million. The MTPL insurance line was the main growth driver, providing for almost 60% of the extra premiums volume.
10 October 2019Bulgaria's EIG Re planning to offer insurance services in Greece
28 August 2019Bulgaria's Saglasie Insurance gets shareholders nod for cap hike
20 August 2019Bulgaria's Euroins increases stake in Synthetica to 5.57%
20 August 2019BULGARIA: The Guarantee Fund publishes draft determining pecuniary and non-pecuniary damage for injured
On August 9th, 2019, the Bulgarian Guarantee Fund published a draft of guidelines for determining compensation for property and bodily damage of injured people, introducing new elements to current law and clarifying aspects of the amount of compensation.
19 August 2019Bulgarian pension insurer Toplina gets shareholder nod for cap hike
7 August 2019BULGARIA: Groupama to acquire OTP's Express Life Insurance
OTP's Express Life Insurance of Bulgaria agreed to sell 100% of shares to Groupama's subsidiary in Bulgaria, strengthening Groupama's position in the local market.
18 July 2019FITCH placed EUROHOLD's rating under observation
With reference to the agreement that EUROHOLD Bulgaria AD signed to acquire CEZ's assets in Bulgaria, the international credit rating agency FITCH Ratings placed EUROHOLD Bulgaria AD's Rating under observation.
15 July 2019BULGARIA: EIG to expand its services in Malta under FoS
Sofia-based EUROINS Insurance Group announced its Bulgarian subsidiary Insurance Company EUROINS AD intends to offer legal expenses insurance on the territory of the Republic of Malta under the terms of the freedom of provision of services, according to a statement by Bulgaria's Financial Supervision Commission (FSC).
15 July 2019
