Bulgarian Insurers' Jan-Nov Gross Premiums Flattish

Bulgarian Insurers' Jan-Nov Gross Premiums Flattish

The combined gross premium income of Bulgarian insurers edged down 1.2% to some 1.4 billion levs ($957 million/716 million euro) in the first eleven months of 2012, the financial regulator said.

The gross premium income of general insurers decreased by 2.5% to 1.17 billion levs through November, the Financial Supervision Commission said.

Bulgaria's general insurance market is dominated by general motor vehicles insurance and mandatory third-party liability insurance policies for motor vehicles, which together accounted for 70.6% of total premiums in the first eleven months of the year.

Life insurers posted a combined premium income of 231.1 million levs through November, up 6.2%.

The gross premium income from voluntary health insurance rose by 14.3% to 41.2 million levs in the January-November period.

A total of 194,055 Bulgarians had voluntary health insurance plans at the end of November, down from 204,948 a year earlier.

Eighteen general insurers and 16 life insurers operated in Bulgaria in the period under review.

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