STATISTICS: BULGARIA, 3Q2019: Non-life units of DZI, GENERALI and ALLIANZ were the most profitable Bulgarian insurers at the end of third quarter

28 November 2019 — Andrei Victor
Bulgarian insurers reported nine months aggregate GWP of BGN 2.18 billion (EUR 1.11 billion), 17.17% more y-o-y, according to quarterly market statistics published by FSC.

Per business lines, about 82.71% represented non-life GWP (EUR 923.97, 17.38% more y-o-y), the remaining rest of 17.29% being accounted by life products GWP (EUR 193.13 million, up by 16.20% y-o-y).

During the analysed period, Bulgarian insurers paid claims worth of EUR 449.62 million, 10.44% more y-o-y, of which about EUR 354 million being related to non-life LoBs.

As of September 30th 2019, data from Financial Supervision Commision show that, in terms of GWP, the largest life insurers in the country were BULSTRAD Life Vienna Insurance Group (30.73 % market share), followed by DZI Life Insurance (22.25% ) and ALLIANZ Bulgaria Life (18.17 %). On non-life segment, there were only three insurers with a market share of more than 10%: Lev Ins (13.65%), followed by BULSTRAD (11.75%) and DZI with a share of 10.47%.

The twelwe active life insures reported aggregate market profit of BGN 33.46 million (EUR 17.11 million), while in case of non-life insurers the mentioned indicator totaled BGN 119.17 million (EUR 55.82 million).

UNIQA Life (EUR 6.43 million), DZI Life Insurance (EUR 3.08 million) and ALLIANZ Bulgaria Life (EUR 3.00 million) were the most profitable life insurers, while in case of non-life segment, the most profitable insurers were DZI - General Insurance (EUR 11.05 million), GENERALI Insurance (EUR 9.52) and ALLIANZ Bulgaria (EUR 7.03 million).

Access and download the 3Q2019 Bulgarian insurance market statistics (in EUR and BGN).
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