Bulgarian insurance market reported FY2024 GWP worth BGN 4.68 billion (EUR 2.39 billion), up 6.5% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 5.9% to BGN 774 million, while non-life insurers' GWP rose by 6.67% to BGN 3.9 billion. Overall, the portfolio structure remained almost unchanged.

At the “claims chapter”, the value of paid claims by insurers went up y-o-y by 9.8% to BGN 2.08 billion (~EUR 1.06 billion) driven mainly by the motor insurance lines which saw a 12.7% increase, mostly owed to increasing claims costs on MoD line.

In terms of premiums, DZI Life was the biggest player on the life insurance market with GWP of BGN 229.8 million (market share 29.7%), while LEV INS , the former largest insurer on the non-life insurer, lost its position to DallBogg, who reported a 62% increase in GWP, to BGN 527 million and currently holds a 13.5% market share.

Access xprimm.com and download the FY2024 Bulgarian insurance market statistics (in EUR and BGN).