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Reinsurance in Bulgaria, Key Trends and Opportunities to 2020

  • June 2017
  • 34 pages
  • Timetric
Report ID: 2063581

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Synopsis
Timetric’s ’Reinsurance in Bulgaria, Key Trends and Opportunities to 2020’ report provides detailed analysis of the market trends, drivers and challenges in the Bulgarian reinsurance segment.

It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2011–2015) and forecast period (2015–2020).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Bulgarian economy and demographics, and provides detailed analysis of natural hazards and their impact on the Bulgarian insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary
Timetric’s ’Reinsurance in Bulgaria, Key Trends and Opportunities to 2020’ report provides in-depth market analysis, information and insights into the Bulgarian reinsurance segment, including:
- An outlook of the Bulgarian reinsurance segment
- A comprehensive overview of the Bulgarian economy and demographics
- Detailed analysis of natural hazards and their impact on the Bulgarian insurance industry
- The competitive landscape in the Bulgarian reinsurance segment

Scope
This report provides a comprehensive analysis of the reinsurance segment in Bulgaria:
- It provides historical values for the Bulgarian reinsurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
- It offers a detailed analysis of the key categories in the Bulgarian reinsurance segment, and market forecasts to 2020.
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Bulgaria, and the reinsurance segment’s growth prospects.
- It analyzes various natural hazards and their impact on the Bulgaria insurance industry

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bulgarian reinsurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Bulgarian reinsurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Bulgarian insurance industry, and their impact on companies and the industry’s future.

Key Highlights
- In February 2016, the Insurance Distributive Directive (IDD) replaced the Insurance Mediation Directive (IMD). It regulates all European Union (EU) insurance brokers, agents and other intermediaries. All EU member states, including Bulgaria, are required to adopt the changes before March 23, 2018.
- Solvency II came into effect on January 1, 2016, and is expected to have a considerable effect on the Bulgarian reinsurance segment. It is a reform of risk-management and capital-adequacy requirements to ensure a more accurate allocation of capital to risk. However, this may pose a challenge in terms of an increase in capital pressure on insurers operating in Bulgaria, which as a result may seek financial assistance from reinsurers.
- On April 1, 2015, EIOPA issued guidelines on the application of outwards reinsurance arrangements to the non-life catastrophe risk sub-module.

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