Bulgarian insurers' assets rise 7.8% y/y at end-Sept

Bulgarian insurers' assets rise 7.8% y/y at end-Sept

The assets managed by Bulgarian insurance companies increased 7.8% year-on-year to 9.05 billion levs ($5.6 billion/4.6 billion euro) at the end of September, the country's central bank said on Wednesday.

On a quarterly comparison basis, the assets managed by Bulgarian insurers were 3.3% higher at the end of September, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.

The assets of general insurance companies added 7.7% year-on-year to 6.43 billion levs as at the end of September, while the assets managed by life insurance companies increased by 7.9% to 2.62 billion levs. The assets of general insurance companies made up 71% of the sector's total.

Securities other than shares formed 48% of the insurance companies' assets as at end-September, down from 49.5% a year earlier.

Shares accounted for 14.6% of insurers' total assets at the end of September, while claims from insurance operations constituted 12.1%.

The number of insurance companies active in Bulgaria fell to 50 at the end of September from 52 a year earlier.

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Bulgaria's construction output falls 4.7% y/y in Oct

The production of Bulgaria's construction sector fell by an annual 4.7% in October, following a 1.7% decline in September, the national statistical office (NSI) said on Wednesday, citing preliminary working-day adjusted data.

On a seasonally-adjusted monthly comparison basis, construction output decreased 1.5% in October after rising by 1.2% in the previous month, the NSI said in a statement.

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Bulgaria's industrial output falls 3.9% y/y in Oct

Bulgaria's industrial output decreased by 3.9% year-on-year in October, following an annual decline of 2.7% in the previous month, the National Statistical Institute (NSI) said on Wednesday, citing preliminary data.

On a seasonally-adjusted monthly comparison basis, industrial production edged up 0.2% in October after a 2.5% rise in September, the NSI said in a statement.

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Bulgaria's retail sales decrease 5.3% y/y in Oct - table

Bulgaria's retail sales at constant prices decreased by 5.3% year-on-year in October after falling by an annual 6.7% in the previous month, the country's statistical office, NSI, said on Wednesday, citing preliminary working-day adjusted data.

On a seasonally-adjusted monthly comparison basis, retail trade turnover at constant prices rose by 1.5% in October following a 3.2% increase in September, the NSI said in a statement.

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Bulgaria's maize output falls 9.4% in 2020

Bulgaria's agriculture ministry said on Wednesday that the country's maize output fell to some 2.83 million tonnes in 2020 from 3.12 million tonnes produced in 2019.

The average maize yield dropped to 4,940 kg per ha in 2020 from 6,840 kg per ha in 2019, the agriculture ministry said in a statement.

Sunflower output fell to 1.64 million tonnes in 2020 from 1.71 million tonnes in 2019, with the average yield decreasing to 2,030 kg per ha from 2,300 kg per ha.

The maize and sunflower output in 2020 was negatively affected by the drought in eastern Bulgaria, the ministry said.

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