January 14 (SeeNews) - Bulgarian non-life insurance companies increased their combined net profit to 217.6 million levs ($127.5 million/111.3 million euro) in the first ten months of 2021, from 171.1 million levs in the comparable period of 2020, the country's financial regulator said.
Non-life insurers' gross written premiums (GWP) rose by 8.1% year-on-year in the ten months through October, reaching 2.2 billion levs, the Financial Supervision Commission (FSC) said in a data release earlier this week.
Lev Ins was the biggest player on the non-life insurance market with gross premiums of 281.6 million levs in January-October, representing a market share of 12.8%. Euroins and Bulstrad Vienna Insurance Group followed with market shares of 12.5% and 11.8%, respectively.
The total assets of non-life insurers in Bulgaria rose to 5.31 billion levs at the end of October 2021 from 4.88 billion levs a year earlier.
There were 23 insurance companies active in the non-life sector in Bulgaria at the end of October.
(1 euro = 1.95583 levs)