Bulgarian non-life insurers grow Jan-Oct net profit, GWP flattish

Bulgarian non-life insurers grow Jan-Oct net profit, GWP flattish

Bulgarian non-life insurance companies increased their combined net profit to 171.1 million levs ($104.4 million/87.5 million euro) in the first ten months of 2020 from 133.5 million levs in the same period of 2019, according to data released by the financial regulator.

Non-life insurers' gross written premiums (GWP) edged up by an annual 0.4% to 2 billion levs in the January-October period of this year, Financial Supervision Commission data, published on Wednesday, showed.

Lev Ins was the biggest player on the non-life insurance market with gross premiums of 266.1 million levs in the review period, equal to a market share of 13.1%. Bulstrad Vienna Insurance Group and Euroins followed with market shares of 12% and 10.7%, respectively.

The total assets of non-life insurers in the country grew to 4.88 billion levs at the end of October from 4.36 billion levs a year earlier.

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