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Bulgarian insurers' assets grow 10.3% y/y in H1

Bulgarian insurers' assets grow 10.3% y/y in H1 Photo by Dennis Jarvis.

SOFIA (Bulgaria), September 11 (SeeNews) - The assets managed by Bulgarian insurance companies increased to 7.28 billion levs ($4.47 bilion/3.7 billion euro) at the end of June, up 10.3% year-on-year, the country's central bank said on Monday.

The assets of life insurance companies grew by 10.8% on the year to 1.94 billion levs as of end-June, while the assets managed by general insurance companies increased by 10.1% to 5.35 billion levs, the Bulgarian National Bank (BNB) said on its website.

Compared to the end of March, the insurance companies' total assets were 0.3% higher at the end of June, with life insurers' assets up 1.5% and general insurers' assets down 0.2%.

At the end of June, the assets of life insurance companies accounted for 26.6% of the total assets of Bulgarian insurers, up from 26.5% a year earlier.

The assets of general insurance companies made up 73.4% of all assets, down from 73.5% at end-June 2016.

The share of securities other than shares in the insurance companies' assets fell to 48% from 49.3% at end-June 2016, the share of deposits decreased to 9.8% from 11.4%, and the share of claims from insurance operations declined to 10.1% from 11.6%.

Assets invested in other EU member states jumped by 18.9% on the year to reach 3.5 billion levs at end-June. Their share increased to 48.3% of  total assets, up from 44.8%.

(1 euro=1.95583 levs)