Bulgarian life insurers' GWPs rise 16% in 2023

Life insurance premiums tied to index-linked or investment fund shareholding amounted to 296.1 million levs at the end of last year, the Financial Supervision Commission (FSC) said in a data release on Tuesday.

DZI Life Insurance, part of Hungarian financial services group OTP, with GWPs of 271.4 million levs, and Bulstrad Life Vienna Insurance Group, with GWPs of 179.9 million levs, were the biggest players on the Bulgarian life insurance market as of end-December. Together, they held the largest market shares, at 37.4% and 24.8%, respectively.

There were ten life insurance companies active in Bulgaria at the end of last year. Their total assets went up to some 2.6 billion levs at the end of 2023 from 2.49 billion levs a year earlier.

(1 euro = 1.95583 levs)