Bulgarian life insurers lift Jan-Oct GWP 15.4%, sickness insurance GWP soar

The rise was mostly driven by sickness insurance premiums, which nearly doubled to 89.8 million levs in the January-October period of 2019 from 50.2 million levs in the comparable period of 2018, financial regulator data, published on Tuesday, showed.

The four biggest life insurers had a combined market share of 86.1% in the review period.

Bulstrad Life Vienna Insurance Group was the biggest player on the life insurance market with gross premiums of 127 million levs in the first nine months of the year, equal to a market share of 30.8%.

DZI Life Insurance and Allianz Bulgaria Life followed with market shares of 22.2% and 18.2%, respectively.

The other company with a double-digit market share was UNIQA Life, which recorded a market share of 14.9%.

(1 euro = 1.95583 levs)