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Bulgaria Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 64 pages

Includes 3 FREE quarterly updates

Key Updates & Forecasts

- In February 2016, Euroins announced the purchase of the Bulgarian and Ukrainian insurancesubsidiaries of Germany's Talanx Group. As part of the deal, Euroins acquired HDI Zastrahovane AD,a non-life insurer with EUR13mn of written premiums in 2013. The deal gives Romania-based Euroinsadditional market share in what is an important market for the company.

- We maintain a relatively positive outlook for life insurance spending in Bulgaria over the forecast period,with premiums set to rise at a steady rate from their current low base. Gross premiums written by thesector will grow by 5.4% a year on average over 2016-2020 to reach USD264mn. Growth will be slightlyweaker in local currency terms at around 3.5% y-o-y.

- In contrast, growth in non-life premiums will be quite muted, reflecting the relative maturity of themarket and a high degree of local competition. Premiums will grow by 0.8% a year on average through2020 in USD terms, reaching USD828mn at the end of the period.

- Economic sluggishness and disposable income remain key economic obstacles hindering the growth ofthe insurance sector in the country. Over the next decade, if the Bulgarian macroeconomic outlook turnsrobust, we expect a positive revision to take place with stronger growth in both insurance sectors,particularly the life insurance segment.

Table Of Contents

Bulgaria Insurance Report Q2 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Bulgaria 2013-2020) 7
SWOT 9
Insurance 9
Industry Forecast 11
Life Premiums Forecast 11
Table: Life Premiums (Bulgaria 2013-2020) 14
Table: Life Insurance Claims (Bulgaria 2008-2015) 14
Non-Life Premiums Forecast 15
Table: Non-Life Premiums (Bulgaria 2013-2020) 18
Table: Non-Life Insurance Claims (Bulgaria 2009-2015) 19
Non-Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Bulgaria 2013-2020) 30
Insurance Risk/Reward Index 31
Emerging Europe Risk/Reward Index 31
Table: Emerging Europe Insurance Risk/Reward Index - Q216 32
Market Overview 33
Life Market Overview 33
The Product Offering 33
The Competitive Landscape 34
Table: Life Insurance Market (USDmn) 2008-2014 35
Table: Life Insurance Market (%) 2008-2014 36
Non-Life Market Overview 36
The Product Offering 37
The Competitive Landscape 37
Table: Non-Life Insurance Market (USDmn) 2008-2014 38
Table: Non-Life Insurance Market (%) 2007-2014 39
Company Profile 42
Allianz 42
Euroins 44
Generali 47
Groupama 50
UNIQA Group 52
Vienna Insurance Group (VIG) 55
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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