The untapped insurance markets of The Balkans – 69% of the Gross Premium Income of the Non-Life Insurance in Bulgaria Comes From Motor Insurance | Rainmaker - An International Defence & Security Network
The gross premium income of the non-life insurance companies reached BGN 403,109,672 at the end of February, according to the Financial Supervision Commission. A little over 69% of it comes from motor insurance, and 15% is under “Fire and natural disasters” and “other property damage”.
In the automobile “Civil liability” the companies have sold insurances for BGN 179 193 307, and by car – for 100 044 645 BGN, the business edition insmarket.bg reported, quoted by Econ.bg
Top 5 companies by market share based on gross premium income:
– 14.9% – Lev Ins
– 11.1% – Bulstrad Vienna Insurance Group
– 9.7% – DZI – General Insurance
– 8.7% – OZK – Insurance
– 7.8% – Euroins
The benefits paid at the end of February reached BGN 155 304 330. Of these, 85% are motorinsurance and 7% are insurances “Fire and natural disasters” and “other property damage”.
In the auto insurance companies the companies covered damages for BGN 82 432 808, and in the auto insurance – BGN 49 498 128
Top 5 companies by market share based on paid benefits: – 18.3% – Lev Ins – 12.0% – Bulstrad Vienna Insurance Group – 9.7% – Bul Ins – 9.6% – DZI – General Insurance – 9.4% – Armeec.