August 16 (SeeNews) - Bulgarian life insurance companies booked a combined net profit of some 2.3 million levs ($1.19 million/1.17 million euro) in the first five months of 2022, compared to a net profit of 6.2 million levs a year earlier, data from the Financial Supervision Commission (FSC) showed.
Life insurers' gross written premiums (GWP) went up 9.2% year-on-year to 266.6 million levs in the five months through May, the Financial Supervision Commission (FSC) said in a data release last week.
The four biggest life insurers held an aggregate market share of 88.2% of GWP in the period under review. FSC data was available for a total of ten life insurance companies active in Bulgaria at the end of May.
DZI Life Insurance, with GWP of 77.8 million levs, and Bulstrad Life Vienna Insurance Group, with 68.3 million levs in GWP, were the two biggest players on the Bulgarian life insurance market in the first five months of the year. Their respective GWP market shares were 29.2% and 25.6%, the FSC data set showed.
Allianz Bulgaria Life, with gross premiums of 57.2 million levs, and UNIQA Life, with 31.7 million levs in GWP, followed. Their market shares were 21.5% and 11.9%, respectively.
As at end-May, the total assets of the life insurers in Bulgaria were slightly under 2.5 billion levs, up from 2.14 billion levs a year earlier.
(1 euro = 1.95583 levs)