VIG leads Bulgarian insurance market in H1 2017

According to data of the Bulgarian financial supervision authority, VIG's two Bulgarian companies, Bulstrad and Bulstrad Life, generated gross written premiums 84 million euro ($99.1 million) in the first half, VIG said in a statement.

“Its [VIG’s] leading position is primarily due to positive performance in the motor lines of business and health insurance,” Peter Hoefinger, member of the VIG managing board, responsible for Bulgaria, said in the statement. “Promoting the health insurance segment is part of our ‘Agenda 2020’ management programme.”

VIG’s property and casualty insurance unit in Bulgaria, Bulstrad, collected around 58 million euro in premiums in the first half of the year, and had a market share of 12.7% in the non-life insurance market.

VIG’s other Bulgarian unit, Bulstrad Life, held the top positions in both the life and health insurance segments, with market shares of 21.5% and 27.0%, respectively.

VIG is also majority shareholder of Bulgaria’s largest pension fund, PAC Doverie, which has more than 1.2 million members and holds a 26.6% market share, which also makes VIG leader, the group said.

($ = 0.8479 euro)