Bulgarian Insurers' Q1 Gross Premiums Fall 1.9% Y/Y

Bulgarian Insurers' Q1 Gross Premiums Fall 1.9% Y/Y

The combined gross premium income of Bulgaria's insurance companies fell by 1.9% on the year to 387.4 million levs ($249.8 million/198.1 million euro) in the first quarter of 2012, the country's financial regulator said.

The gross premium income of the general insurers decreased by 3.7% to 323.2 million levs through March, data of the Financial Supervision Commission showed on Thursday.

Bulgaria's general insurance market is dominated by general motor insurance and mandatory third-party liability insurance policies for motor vehicles which jointly accounted for 75.3% of total premiums in the first three months of last year.

Life insurers posted a combined premium income of 64.2 million levs through March, up by 8.7% on the year.

The gross premium income from voluntary health insurance rose by 6.7% to 16.9 million levs in the January-March period.

A total of 208,629 Bulgarians had voluntary health insurance plans at the end of March, compared to 199,422 a year earlier.

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