Speaking about the market results in the third quarter of 2025, he pointed out that the insurance market in Bulgaria continues to report stable growth, with premium income increasing by about 13% year-on-year. The main contribution to this is non-life insurance, while life insurance is developing at a more moderate pace, driven mainly by health insurance.
Motor insurance traditionally occupies the largest share in the non-life segment. In 2024, this share was about 71%, and in 2025 there was a slight decrease to below 70%, due to the faster growth of other segments - property insurance, health insurance and accident insurance. "This is a positive trend, because the penetration level of other types of insurances outside of motor is low and this potential should be developed”, he emphasized.
Despite the increased interest in property insurance, the share of insured homes in Bulgaria remains low – below 10%. “The process is slow because it is related to people’s awareness that this insurance helps them manage their risk well”, Nikolay Stanchev noted.
Interest in agricultural insurance is also increasing, stimulated by a European program that finances up to 70% of the insurance premium of agricultural producers. "Last year, there was a significant increase in interest in this type of insurance. However, about 25-30% of the funds under the program have not been utilized", Stanchev pointed out.
Health insurance also continues to grow, with the market growth reaching around 25% in 2025. This growth is largely due to the rising prices of medical services, i.e. medical inflation, explained Nikolay Stanchev. Currently, health insurance is the most common social benefit offered by employers – around 86% of large companies provide such protection to their employees. There is also growing interest from small and medium-sized enterprises. At the same time, individual health insurance has a very small share, according to the Chairman of the Association of Bulgarian Insurers.
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