STATISTICS: Bulgarian market increased to ~EUR 1.7 billion during Q1-Q3 2023

10 January 2024 — Andrei VICTOR
STATISTICS: Bulgarian market increased to ~EUR 1.7 billion during Q1-Q3 2023

Bulgarian insurance market reported January-September 2023 GWP worth BGN 3.29 billion (EUR 1.68 billion), up by 24.21% y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website. Life insurers' GWP increased by 20.63% to BGN 533.99 million, while non-life insurers' GWP rose by 24.93% to BGN 2.75 billion.

At the “claims chapter”, the value of paid claims by insurers increased by 42.20% y-o-y to BGN 1.49 billion (~EUR 764.35 million) due to the almost 50% growth rate posted on the non-life segment (to BGN 1.28 billion).

In terms of premiums, DZI Life was the biggest player on the life insurance market with GWP of BGN 201.38 million (market share of 37.71%), while LEV INS was the largest insurer on the non-life insurance market with GWP of BGN 350.52 million (12.72% market share).

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

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