Bulgarian insurers' assets grow 4.5% y/y at end-March

Compared to the end of 2023, assets managed by Bulgarian insurers declined by 0.5% or 53.4 million levs, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.

The assets of general insurance companies grew by 2.3% on the year to some 7.64 billion levs at the end of March. This represented a share of 71.1% of total insurance assets.

In parallel, the assets of life insurance companies leapt by 10.2% year-on-year to 3.1 billion levs and accounted for a share of 28.9% of overall assets.

Securities other than shares made up 48.3% of all insurance companies' assets as of end-March, compared to 45% a year earlier. Shares and other equity took up 24.2%, up from 21% at end-March 2023, while the share of receivables from insurance operations declined by four percentage points to 6.9%.

There were 45 insurance companies active in Bulgaria at the end of March, 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)