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Bulgaria Insurance Report Q1 2016

  • ID: 3554593
  • January 2016
  • Region: Bulgaria
  • 63 pages
  • Business Monitor International
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FEATURED COMPANIES

  • Allianz
  • Euroins
  • Generali
  • Groupama
  • UNIQA Group
  • MORE

We hold a modest outlook for the Bulgarian insurance industry as a whole. The life insurance sector is poised to grow faster than the non-life sector. Nevertheless, the overall size of the life sector combined with low household disposable income and a general lack of understanding of life insurance policies and their benefits is a serious constraint on the life insurance subsector outlook. Non-life insurance accounts for just under 80% of the premiums of the insurance industry with the motor vehicle sector having the lion's share of the non-life market. We believe growth will be slow but will track upwards in both sectors and all non-life lines over the course of our forecast period. Nevertheless, we retain our view that a sluggish economy coupled with low household spending powers will constrain the growth of the insurance industry over the course of our forecast period.

Key Updates & Forecasts
- Looking forward, both the life and non-life insurance subsectors are poised for modest positive growth over the course of our forecast period. In 2016, life insurance will post a dollar denominated growth rate of 0.9% with premiums amount to USD200mn and jumping to USD255mn by the end of 2019
- Growth in the non-life sector will be slower but the relative size of the non-life sector will ensure higher absolute premiums. The non-life sector premiums will amount to USD773mn in 2016, reducing by 3.1%
in dollar terms due to currency weakness. We expect dollar growth to resume from 2017 onwards as the currency stabilizes with premiums growing to over USD840mn by 2019.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Allianz
  • Euroins
  • Generali
  • Groupama
  • UNIQA Group
  • MORE

Table: Headline Insurance Forecasts (Bulgaria 2012-2019)

SWOT

Insurance

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (Bulgaria 2012-2019)
Table: Life Insurance Claims (Bulgaria 2007-2014)

Non-Life Premiums Forecast
Table: Non-Life Premiums (Bulgaria 2012-2019)
Table: Non-Life Insurance Claims (Bulgaria 2008-2014)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Bulgaria 2012-2019)

Insurance Risk/Reward Index

Emerging Europe Risk/Reward Index
Table: Emerging Europe Insurance Risk/Reward Index

Market Overview

Life Market Overview

The Product Offering

The Competitive Landscape
Table: Life Insurance Market (USDmn) 2008-2014
Table: Life Insurance Market (%) 2008-2014

Non-Life Market Overview

The Product Offering

The Competitive Landscape
Table: Non-Life Insurance Market (USDmn) 2008-2014
Table: Non-Life Insurance Market (%) 2007-2014

Company Profile

Allianz

Euroins

Generali

Groupama

UNIQA Group

Vienna Insurance Group (VIG)

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Note: Product cover images may vary from those shown
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Allianz
Euroins
Generali
Groupama
UNIQA Group
Vienna Insurance Group (VIG)

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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Our Clients

  • Transatlantic Holdings, Inc.
  • Aon Plc.
  • Swiss Reinsurance Company Ltd.
  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group