December 8 (SeeNews) - The assets managed by Bulgarian insurance companies increased to 7.47 billion levs ($4.47 bilion/3.7 billion euro) at the end of September, up 14.8% year-on-year, the country's central bank said on Friday.
The assets of life insurance companies grew by 8.4% on the year to 1.98 billion levs as of end-September, while the assets managed by general insurance companies increased by 17.3% to 5.49 billion levs, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.
Compared to the end of June, the insurance companies' total assets were 2.6% higher at the end of September, with life insurers' assets up 2.4% and general insurers' assets up 2.7%.
At the end of September, the assets of life insurance companies accounted for 26.5% of the total assets of Bulgarian insurers, down from 28.1% a year earlier.
The assets of general insurance companies made up 73.5% of all assets, up from 71.9% at end-September 2016.
The share of securities other than shares in the insurance companies' assets fell to 48.2% from 52% at end-September 2016, the share of deposits decreased to 9.5% from 11.6%, and the share of claims from insurance operations declined to 9.7% from 9.9%.
Assets invested in other EU member states grew by 27.5% on the year to reach 3.66 billion levs at end-September. Their share increased to 49% of total assets, up from 44.1%.
(1 euro=1.95583 levs)