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Sep 11, 2023 17:36 EEST
September 11 (SeeNews) - The assets managed by Bulgarian insurance companies amounted to 10.2 billion levs ($5.6 billion/5.2 billion euro) at the end of June, which was an annual increase of 11.2%, the central bank said on Monday.
Compared to the first quarter, assets managed by Bulgarian insurers inched down by 0.8% or 82.2 million levs, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.
The assets of general insurance companies inched down by an annual 0.4% to roughly 6.98 billion levs as of end-2022, while the assets managed by life insurance companies dropped 14.5% to 2.66 billion levs over the same period.
The assets of general insurance companies jumped by 14.9% on the year to 7.42 billion levs at end-June. This represented a share of 27.3% out of total insurance assets.
At the same time, the assets of life insurance companies went up 2.5% to 2.78 billion levs, and accounted for a share of 72.7% of overall assets.
Securities other than shares made up 45.9% of all insurance companies' assets as of end-June, compared to 45.4% a year ago. Shares and other equity took up 22.2%, up from 19.0% on the year, while receivables from insurance operations declined by 2 percentage points to 11.6%.
There were 45 insurance companies active in Bulgaria as of end-June, one more than at the same time last year. Of those, there were 12 life insurers and 33 general insurance companies.
(1 euro = 1.95583 levs)
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