Bulgarian insurers' assets up 12% y/y at end-Sept

Compared to the end of June, assets managed by Bulgarian insurers rose by 1.7% or 177.3 million levs, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.

The assets of general insurance companies jumped by 14.9% on the year to some 7.6 billion levs at the end of September. This represented a share of 73.2% of total insurance assets.

In parallel, the assets of life insurance companies grew by 6% to 2.78 billion levs and accounted for a share of 26.8% of overall assets.

Securities other than shares made up 45.4% of all insurance companies' assets as of end-September, compared to 44.2% a year earlier. Shares and other equity took up 24.2%, up from 19.8% at end-September 2022, while receivables from insurance operations declined by 2.7 percentage points to 10.3%.

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