August 16 (SeeNews) - Bulgarian non-life insurance companies slightly increased their combined net profit to 121.7 million levs ($63 million/62.2 million euro) in the five months to end-May, from 120.8 million levs in the comparable period of 2021, the country's financial regulator said.
Non-life insurers' gross written premiums (GWP) rose by 7.3% on the year in the period under review, reaching roughly 1.17 billion levs, the Financial Supervision Commission (FSC) said in a data release last week.
Lev Ins was the biggest player on the non-life insurance market, with gross premiums of 170.1 million levs in the January-May period, which gave it a GWP market share of 14.6%, reflecting an increase of 2 percentage points (pp) from a year earlier.
Bulstrad Vienna Insurance Group, with in 145.6 million levs in GWP and a market share of 12.5%, was the second-largest Bulgarian non-insurer out of the 23 companies in the sector, closely followed by Euroins, which had 141.2 million levs in GWP, corresponding to a market share of 12.1%.
The total assets of non-life insurers in Bulgaria rose to 5.44 billion levs at the end of May 2022 from 5.12 billion levs a year earlier.
(1 euro = 1.95583 levs)