News - Insurance

STATISTICS: Bulgarian market posted 6% increase in Q1 GWP

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%.

LHV Kindlustus unaudited results for 1H 2021

LHV Kindlustus, Estonian LHV Group's recently established non-life insurance unit, ended the first half of the year with a net loss of EUR 388,000. The consolidated net profit of AS LHV Group, including banking, asset management and insurance businesses, reached EUR 24.3 million.

UNIQA raises its YE forecasts following H1 preliminary figures

Following preliminary H1 2021 statements, Austrian insurance group UNIQA announced is raising its FY2021 forecast. At the same time, for the first half of 2021, UNIQA estimates that earnings before taxes will exceed EUR 200 million.

HANFA green lighted Zeljko Lovrincevic's appointment as CO's SB member

Croatia osiguranje, the largest Croatian insurer and one of the largest insurance group in the Adriatic Region announced in a statement published on the Zagreb Stock Exchange website that HANFA (Croatian Financial Services Supervisory Agency) authorized Zeljko Lovrincevic as member of the Supervisory Board of CROATIA osiguranje.

Bulgarian insurers posted Q1 profits of EUR 40 m

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.