Your personal data

We collect and process your personal data. To secure your rights under the General Data Protection Regulation, we ask for your consent. The IG Brokers website uses cookies to function properly and improve its efficiency. For more information: Cookie Policy

No Yes
No Yes
No Yes
I agree

TRENDS IN THE DEVELOPMENT OF THE INSURANCE MARKET

NEWS_PUBLISH_DATE 30 October 2017
TRENDS IN THE DEVELOPMENT OF THE INSURANCE MARKET image

The insurance market in Bulgaria has been growing for the 4th year in a row - by small steps, but it is confidently going up.

Gross premiums in the insurance industry are BGN 2.05 billion for 2016, with the total insurance / life distribution being 1.62 billion / 0.43 billion or a ratio of 80% -20%;

Growth in non-life insurance - 3.13% compared to 2015, and in life insurance - 9.5%; The market is dominated by motor insurance -70% share for 2016, followed by property insurance - 17%; Motor vehicle liability continues to make the largest contribution - 39% of premiums and 44% of damages. Growth in comprehensive insurance - 5.7% - more new cars;

The results for the first 8 months of 2017 apply for market growth, as the increase compared to the same period of 2016 is 10% - a distinctive growth in CI, Casco, General CI.

The increase in the insurance "Miscellaneous financial losses" is 100% due to the development of the bonds (Insurance Guarantee under the Public Procurement Act).