Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Black Sea;
- Neighbours: Turkey, Greece, Macedonia, Serbia, Romania.

- temperate;
- cold, damp winters;
- hot, dry summers coast.

Natural hazards:
- earthquakes;
- landslides.

Macro indicators
* 2018 estimates
Pop. density*:63.2people/km2
GDP*:55.0EUR billion

European Union:
EU member, since 2007

Currency: Lev
Code: BGN
Since: 1999

Exchange rates:
1 EUR = 1.95583 BGN (fixed)

Insurance market portfolio
* 2018 estimates
Overall Property*:11%
Overall Motor*:61%




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Bulgaria 3Q2022 Market Portofolio

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Bulgaria 3Q2022 Companies Rankings

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Latest news

World 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.

Eurohold'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.

BULGARIA: 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.

STATISTICS: 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.

KBC 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.

BULGARIA: 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).

BULGARIA: 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.