Bulgarian insurers' assets up 7.9% y/y at end-March

Bulgarian insurers' assets up 7.9% y/y at end-March

The assets managed by Bulgarian insurance companies totalled 9.5 billion levs ($5.9 billion/4.9 billion euro) at the end of March, up 7.9% year-on-year, the country's central bank said.

On a quarterly comparison basis, the assets managed by Bulgarian insurers were 3% higher at the end of March, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.

The assets of general insurance companies went up 6.6% year-on-year to 6.7 billion levs as at the end of March, while the assets managed by life insurance companies grew 11.3% to 2.7 billion levs. The assets of general insurance companies made up 71% of the sector's total.

Securities other than shares formed 47.3% of the insurance companies' assets as at end-March, little changed from 47.4% a year earlier.

Shares accounted for 16.3% of insurers' total assets at the end of March, while claims from insurance operations constituted 12.8%.

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

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