Bulgarian insurance market totaled BGN 807 million (EUR 413 million) at the end of March 2021, up by 6.1% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
Life insurers' GWP increased by an annual 16% to BGN 150 million, mostly driven by the 77% increase reported by UL life policies, while non-life insurers' GWP rose by 4% to BGN 657 million.
ALLIANZ Bulgaria Life was the biggest player on the life insurance market with GWP of BGN 42.5 million, while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 81.3 million in the review period, equal to a market share of 12.4%.
Bulgarian insurance market posted aggregate quarterly profit of BGN 78.2 million (EUR 40 million), about 63% more as compared with the snapshot at 31 March 2020 (BGN 47.9 million/EUR 24.5 million), according to the market statistics published on FSC website.
"Agroinsurance is not standardized and there are various offers on the Bulgarian market", said Nina Kolchakova, Secretary General of ABZ (Association of Bulgarian Insurers). Therefore, farmers should be aware of all the terms of the offer in advance to determine if it suits their needs, according to the ABZ.
EUROHOLD Bulgaria AD, one of the leading independent financial and insurance groups in the SEE, raised EUR 80.5 million via a Public Offering of New Shares on the Bulgarian Stock Exchange (BSE).
Avto Union AD, part of Bulgarian Eurohold, signed a preliminary contract for the sale of its subsidiary N Auto Sofia EAD to Bulpharma OOD, a leading investor in healthcare services.
Bulgarian FSC (Financial Supervision Commission) announced that it granted approval to local insurer DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group.
In Q1 2021, EUROHOLD Bulgaria AD, the largest Bulgarian public holding and one of the leading independent financial and insurance groups in the CEE/SEE/CIS region, reported revenues of approximately BGN 421 million (EUR 225.2 million), close to the 1Q 2020 level, right before the pandemics.
Bulgaria's Commission for Protection of Competition (CPC) has granted approval to local DZI - Life Insurance (part of Belgian KBC) to acquire the Bulgarian pension and life insurance business of Dutch-based NN Group, wrote seenews.com here
Bulgaria's Financial Supervision Commission (FSC) approved urohold's capital increase prospectus, which will allow the Bulgarian holding to raise up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BSE).
Bulgarian insurance market totaled BGN 2.88 billion (~EUR 1.47 billion) at the end of December 2020, down by 0.88% y-o-y, according to data from the Financial Supervision Commission - FSC.
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group - announce it will increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), "which will allow the company to raise up to EUR 100 million.
The Bulgarian insurance brokerage market totaled BGN 1.72 billion (EUR 878 million) at the end of 2020, about 1.8% more y-o-y, as announced the local insurance market regulator FSC in a statement
published on its website.
The Bulgarian Financial Supervision Commission informed that on March 11,2021 it took the Decision on on initiating proceedings for compulsory liquidation of non-life insurer Euroamerican.
Bulgarian financial holding Eurohold, the owner of Euroins Insurance Group, announced stable revenues in 2020 compared to the financial results in 2019 when the economy was growing, according to the holding's preliminary consolidated unaudited financial report for the last year.
Bulgarian financial holding Eurohold has secured a EUR 26 million (USD 31 million) funding commitment from Gem Global Yield (GEM), a USD 3.4 billion Luxembourg-based alternative investment group focused on emerging markets. The two parties have already signed an agreement.
Eurohold Bulgaria, owner of Euroins, intends to increase its working capital up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BVB). The main shareholders of Eurohold, including Starcom Holding AD, confirm their participation in the future capital increase.
Belgian fiancial group KBC and the Netherlands-based NN Group announced they reached an agreement for KBC's Bulgarian subsidiary, DZI - Life Insurance, to acquire NN Bulgarian operations for a total consideration of EUR 77.7 million.
The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to EUROHOLD Bulgaria for the acquisition of the Czech energy company CEZ Group's subsidiaries in the country, as the financial holding announed in a statement
In 2013, the European Directive 2013/50/EC pushed all annual financial statements of issuers whose securities are admitted to trading on regulated markets in the EU to be drawn up in a single electronic reporting format (ESEF), starting from 1 January 2020. Because of the COVID-19 pandemic, the Financial Supervision Commission of Bulgaria (FSC) decided to postpone for one more year the implementation, allowing the companies to focus on the management of the pandemic crisis.
Rapid modernization, stability and consumer protection were the top priorities for the Bulgarian insurance market, as revealed during the latest international show of XPRIMM TIME for BUSINESS, aired on Wednesday, 16 December.