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Apr 03, 2023 12:32 EEST
April 3 (SeeNews) - The net profit of non-life insurance companies in Bulgaria dropped to some 178.1 million levs ($99 million/91.1 million euro) last year from 227.2 million levs in 2021, the country's financial regulator said.
Non-life insurers' gross written premiums (GWPs) rose to 2.99 billion levs in 2022 from 2.64 billion levs a year earlier, the Financial Supervision Commission said in a data release on Friday.
At the end of 2022, there were 23 non-life insurance companies active in Bulgaria. The biggest sector player was Euroins, with gross premiums of 455.3 million levs, followed by Lev Ins with 446.3 million levs in GWPs.
The two companies had market shares of 15.24% and 14.94%, respectively, at the end of last year, compared to 12.91% and 12.76% in 2021.
Total assets of the non-life insurers in Bulgaria went up to 5.65 billion levs in 2022 from 5.37 billion levs a year earlier, the data showed.
(1 euro = 1.95583 levs)
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