Did you know that ... about insurance

Publish date 06 October 2014
Did you know that ... about insurance image

Only for the first six months of 2014 the general insurance companies in the country have realized a gross premium income of BGN 720 million. The profits of the companies in the sector amount to nearly BGN 30 million.

Here are some facts that describe the business for the first six months:

1. Armeec, Bulstrad Vienna Insurance Group and Lev Ins are the leading three companies, according to data from the Financial Supervision Commission. Apart from them, only DZI General Insurance has more than 10% market share;

2. Lev Ins and Bull Ins remain the most preferred companies for concluding the compulsory Civil Liability policy, ahead of Armeec, OZK Insurance and DZI General Insurance, forming the top 5.

3. The market leader in terms of market share, according to the Financial Supervision Commission - Armeec, occupies the leading position in Casco insurance with a premium income of over BGN 50 million. The second Bulstrad Vienna Insurance Group has a premium income of BGN 28.5 million, outpacing Allianz Bulgaria, DZI General Insurance and Uniqa.

4. The preferred insurance companies for Fire and Natural Disasters policies are Bulstrad Vienna Insurance Group, Victoria, Allianz Bulgaria and DZI General Insurance.

5. Victoria is the most profitable company for the period January 1 - June 30 with a result of BGN 10.8 million. The positive financial result of Energia is BGN 7,998 million, of Lev Ins - BGN 7.4 million, and of Allianz Bulgaria - BGN 6.2 million

6. Armeec has the largest loss in the first half of the year - over BGN 8 million. The losses for Bulstrad Vienna Insurance Group and Unika are BGN 1,494 million and BGN 872 thousand.

7. A total of 84% of the indemnities paid in the general insurance are under policies related to the use of motor vehicles, it is clear from data of the Financial Supervision Commission. Compared to a year, a decrease was reported, as then the percentage was equal to 88.4.

8. Assets managed by non-life insurance companies increased by BGN 122.5 million (3%) - from BGN 4.052 billion at the end of June 2013 to BGN 4.174 billion at the end of the same month. 2014 They increased by BGN 159 million (4%) compared to the end of March 2014 (BGN 4.015 billion).

9. As of the end of June 2014, the instruments included in the assets of insurance companies are dominated by securities held, other than shares, which on an annual basis increase by BGN 75.6 million (3%) to BGN 2.611 billion. BGN

10. Compared to the end of June 2013, deposits decreased by BGN 41 million (4.5%) to BGN 877.7 million, and funds in insurance receivables increased by BGN 29.7 million (4.9%) to BGN 633.7 million. BGN

Source: profit.bg