Bulgarian Insurers Export 3.89 Billion Levs
Tuesday, 04 July 2017
Bulgarian insurers have exported a total of 3.89 billion levs in a search for higher profits.
As of end-March 2013, they managed a total of 7,261 billion levs. This is an increase by 999 million levs, or 16% in a year's time.
Only 46.4% of this money has been invested in financial instruments in Bulgaria. The rest has been exported to foreign financial hubs or funds, most of them in the EU, who offer more lucrative interest and return rates.
One third of the assets of the insurers operating in Bulgaria are in currencies other than the Lev, a recent analysis of the central bank has shown.