Bulgaria
EIG divested its interest in the insurance companies in Russia and Belarus
Euroins Insurance Group (EIG), part of Eurohold Bulgaria, announced it has signed an agreement to sell its subsidiary in Belarus and the group's stake in a company in Russia. The new owner of the two insurers is a Russian company.
9 January 2023World Bank Group member IFC acquires stake in VIG's Bulgarian pension fund Doverie
International Finance Corporation (IFC), a member of the World Bank Group, takes a stake of around 10% in Doverie, the pension fund in Bulgaria in which the Vienna Insurance Group (VIG) holds a majority stake. The cooperation aims to strengthen and jointly further expand the Bulgarian pension insurance market.
9 January 2023Eurohold's 9 months revenue tripled to EUR 2.4 billion
Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, reported strong results in the third quarter of 2022 consolidating its very positive performance since the beginning of the year, according to the company's consolidated interim financial statement for the period.
7 December 2022BULGARIA: ABZ: by the end of June the insurance market maintained stability and a positive direction of development
According to the market regulator, in the first six months the insurance market maintained stability and a positive direction of development, which is a good result in view of the serious challenges such as political instability, economic difficulties and inflation, problems with the entire chain of supplies caused by the pandemic and the war in Ukraine, Association of Bulgarian Insurers (ABZ) wrote.
20 October 2022BULGARIA: ABZ organized an anniversary conference "140 years of insurance in Bulgaria" on October 5, 2022
The Bulgarian insurance sector celebrates 140 years of insurance in Bulgaria and 30 years since establishment of the Association of Bulgarian Insurers (ABZ) in 2022. In honor of these anniversaries, ABZ organized an anniversary conference "140 years of insurance in Bulgaria" on October 5, 2022 at the Hyatt Hotel, the Association said.
13 October 2022STATISTICS: BULGARIA, 1H2022: 7% y-o-y increase in the market aggregate profit
Bulgarian insurance market totaled almost BGN 1.8 billion (EUR 918 million) at the end of June 2022, up by 9.8% y-o-y, according to the official data provided by Financial Supervision Commission - FSC. The number of insurance companies active in Bulgaria decreased to 44 at the end of June from 51 a year earlier.
13 October 2022BULGARIA: ABZ: most of the owners still do not insure their property
Most of the owners in Bulgaria still do not insure their property as either because people hope that nothing terrible will happen, or because they rely on government assistance in the event of a serious damage, said Nina KOLCHAKOVA, ABZ (Association of Bulgarian Insurers) General Secretary.
22 September 2022BULGARIA: at the end of June the insurance sector's assets decreased by 3.8% y-o-y
A the end of June 2022, the assets of the Bulgarian insurance companies reached BGN 9.17 billion (EUR 4.7 billion), which is 3.8% less y-o-y, SeeNews reports according to the quarterly insurance sector report of the Bulgarian National Bank.
16 September 2022BULGARIA: ABZ: Only 6-7% of the properties of individuals are insured
In the last 10 years there has been no change in home property insurance - only 6-7% of the properties of individuals are insured in Bulgaria. This is an extremely low percentage, especially considering that the majority of people live in their own homes, said Konstantin VELEV, Chairman of the Board of the Association of Bulgarian Insurers (ABZ) in his interview on September 09.
13 September 2022Bulgaria: September flooding emphasizes once again the insurance gap
A torrential rain caused rivers and streams to overflow flooding several villages in Bulgarian Plovdiv Province on 02 September 2022, leaving over 500 people in need of safe housing by damaging several hundred houses, as well as infrastructure.
8 September 2022BULGARIA: ABZ: the share of agroinsurance in non-life premiums dropped four times by March
According to data from the Association of Bulgarian Insurers (ABZ), the share of agricultural insurance in the non-life segment, which is already very small, has dropped four times - from 0.74% in March 2021 to only 0.19 % in March 2022.
9 August 2022BULGARIA: ABZ: the market continues its positive development trend in the first three months of 2022
The insurance market continued to grow steadily in the first quarter of 2022. Considering that the data also covers the first month of the war in Ukraine (March), it can be said that the market demonstrates its solid foundation and resilience, the Association of Bulgarian Insurers (ABZ) wrote.
22 July 2022STATISTICS: BULGARIA, 1Q202: insurers end-March profits decreased to EUR 30.3 million
Bulgarian insurance market totaled BGN 885.4 million (EUR 452.7 million) at the end of March 2022, up by 9.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
12 July 2022KBC completes acquisition of RBI's Bulgarian operations
Belgian financial group KBC announced that KBC Bank and Raiffeisen Bank International (RBI) completed the deal announced in November 2021 concerning the acquisition of 100% of the shares of Raiffeisen bank (Bulgaria) EAD, comprising RBI's Bulgarian banking operations.
11 July 2022BULGARIA: Despite the crises, the insurance market is performing steadily
"Despite the crises, the insurance market is performing steadily. During the pandemic, the sector managed to adapt very quickly to new conditions of doing business in a digital environment, transform processes, maintain and further develop communication with customers", said Nina KOLCHAKOVA, Secretary General of the Association of Bulgarian Insurers (ABZ).
30 June 2022Balkan Insurance Brokers' annual meeting gathered over 100 professionals in Nis, Serbia
The annual meeting of Balkan Insurance Brokers took place in the city of Nis, Serbia on 3-5 June. Over 100 attendees from Balkan Insurance Brokers network in Bulgaria and Romania attended the reunion, as well as representatives of insurers Euroins and Uniqa from Bulgaria, and Euroins and Grawe from Romania.
27 June 2022BULGARIA: Yuri KOPACH, Deputy Chairman of the Board of ABZ, wins the prize "For overall contribution to the development of Bulgarian insurance"
Yuri KOPACH, Deputy Chairman of the Management Board of ABZ (Association of Bulgarian Insurers) and Member of the Management Board and Executive Director of Generali Zastrahovane was awarded the national prize "For overall contribution to the development of Bulgarian insurance" of the Foundation "Prof. Dr. Veleslav GAVRIYSKI", ABZ said.
24 May 2022BULGARIA: Leading experts joined the discussion "Life Insurance - Protection and Investment", organized by ABZ and Bulgaria ON AIR on April 10
Life insurance in Bulgaria is experiencing an impressive rise. The development and potential of life insurance, its benefits to consumers and mechanisms for managing the funds invested by clients were among the topics commented during the discussion "Life Insurance - Protection and Investment" organized by the Association of Bulgarian Insurers and Bulgaria ON AIR on April 10, 2022.
12 April 2022Eurohold seeks to acquire the remaining shares of the minority in CEZ Distribution and CEZ Electro
Bulgarian holding Eurohold announced that its energy subholding - Eastern European Electric Company (EEEC) and majority shareholder in CEZ Distribution Bulgaria and CEZ Electro Bulgaria, has registered with the Financial Supervision Commission (FSC) tender offers for the purchase of the shares of the minority shareholders in both companies.
11 April 2022STATISTICS: Bulgarian insurers' YE2021 net profits expanded by 65% y-o-y to EUR 145 m
Bulgarian insurance market ended 2021 with a total GWP of BGN 3.24 billion (EUR 1.66 billion), up by 12.73% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC).
6 April 2022
