The assets managed by Bulgarian insurance companies totalled 9.83 billion levs

The assets managed by Bulgarian insurance companies totalled 9.83 billion levs

The assets managed by Bulgarian insurance companies totalled 9.83 billion levs ($5.4 billion/5 billion euro) as of the end of March, up 3.8% year-on-year, the central bank said on Thursday.

Compared to the end of 2021, the assets managed by Bulgarian insurers were 2.8% lower at the end of the third month of 2022, the Bulgarian National Bank (BNB) said in a quarterly insurance sector report.

The assets of general insurance companies rose 5.2% year-on-year to 6.72 billion levs in the review period, while the assets managed by life insurance companies inched up 0.6% to 2.77 billion levs. The assets of general insurance companies accounted for 71.9% of the sector's total.

Securities other than shares represented 42.8% of all insurance companies' assets as of end-March, compared to a share of 47.3% a year earlier.

Shares and other equity registered an annual increase to19% from 16.3% of insurers' total assets, while claims from insurance operations constituted 16.2% as of end-March against 12.8% a year earlier.

The number of insurance companies active in Bulgaria fell to 45 at the end of March from 51 a year earlier.

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