Bulgarian non-life insurers grow 2020 net profit, GWP flattish

Bulgarian non-life insurers grow 2020 net profit, GWP flattish

Bulgarian non-life insurance companies increased their combined net profit to 165.2 million levs (99.3 million/84.5 million euro) in 2020 from 112.2 million levs in 2019, according to data released by the financial regulator on Monday.

Non-life insurers' gross written premiums (GWP) remained roughly unchanged year-on-year at 2.4 billion levs, Financial Supervision Commission data showed.

Lev Ins was the biggest player on the non-life insurance market with gross premiums of 306.5 million levs last year, equal to a market share of 12.57%. Euroins and Bulstrad Vienna Insurance Group followed with market shares of 12.24% and 11.72%, respectively.

The total assets of non-life insurers in the country grew to 4.89 billion levs at the end of 2020 from 4.44 billion levs a year earlier.


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