Key Market Indicators
Bulgarian insurance spending is projected to reach approximately €293 million by 2028, up from around €259 million in 2023. This represents a modest annual growth rate of 2% over the forecast period. However, historical data indicates that the demand for insurance in Bulgaria has been on a slight decline, decreasing by an average of 1.3% per year since 2000. In terms of gross written premium, Bulgaria saw a slight increase in 2020, reaching $1.68 billion, up from $1.67 billion in 2019. This marginal growth highlights the challenges and slow pace of expansion in the Bulgarian insurance market.
