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Bulgarian insurers' assets grow 9.3% y/y at end-Sept

Author Vasil Kolchev
Bulgarian insurers' assets grow 9.3% y/y at end-Sept Ken Teegardin/CC BY-SA 2.0

SOFIA (Bulgaria), December 10 (SeeNews) - The assets managed by Bulgarian insurance companies rose 9.3% on an annual comparison basis to some 9.9 billion levs ($5.72 billion/5.06 billion euro) at the end of September, the country's central bank said.

On a quarterly comparison basis, the assets managed by Bulgarian insurers were 3.7% higher at the end of September, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report on Thursday.

The assets managed by general insurance companies added 6.7% on the year to 6.86 billion levs as at the end of September, while the assets of life insurance companies grew 15.8% to 3.03 billion levs. The assets of general insurance companies made up 69.3% of the sector's total.

Securities other than shares comprised 43.4% of the insurance companies' assets as at end-September, down from 48% a year earlier.

Shares constituted 18.3% of insurers' total assets at the end of last year, while claims from insurance operations accounted for 14.3%.

The number of insurance companies active in Bulgaria inched up to 51 at the end of September from 50 at the same time of the previous year.

(1 euro = 1.95583 levs)

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