January 27 (SeeNews) - Bulgarian non-life insurance companies increased their combined net profit to 138.5 million levs ($78.1 million/70.8 million euro) in the January-November period of last year from 95.9 million levs in the same period of 2018, according to data from the Financial Supervision Commission.
The rise in profit was supported by an 15.8% increase in gross written premiums (GWP) to 2.2 billion levs in the first eleven months of 2019, financial regulator data, published on Friday, showed.
The rise in GWP was mostly driven by motor vehicle liability insurance premiums, which grew to 994.7 million levs in the January-November period of 2019 from 853.2 million levs in the comparable period of 2018.
Lev Ins was the biggest player on the non-life insurance market with gross premiums of 292.9 million levs in the first eleven months of the year, equal to a market share of 13.3%. Bulstrad Vienna Insurance Group and DZI - General Insurance followed with market shares of 11.7% and 10.5% in the review period.
The total assets of Bulgarian insurers amounted to 4.37 billion levs at the end of November, up from
(1 euro = 1.95583 levs)