Bulgaria Insurance Report Q3 2012

Published : May 2012
No. of Pages : 74

Price:

The Bulgaria Insurance Report considers the prospects for both life and non-life insurers in that country. The latest statistics from the regulator and comments from leading companies that are active in Bulgaria indicate that, in both of the main segments, premiums tracked sideways during 2011. The benefits of growth in compulsory motorists third-party liability (CMTPL) premiums have been offset by shrinkage in voluntary auto insurance (CASCO) premiums which, in turn, have suffered as a result of the general softness of the economy.
Various developments that have occurred since Q411 indicate that the major companies are – with some success – boosting profitability through measures to improve efficiency and reduce costs. Allianz’s nonlife business in Bulgaria improved its profitability in 2011. In early October 2011, Vienna Insurance Group announced that it would be merging Bulstrad with Bulgarski Imoti, in order to realise synergy benefits for a combined group that accounts for about 16% of the non-life market (and which is a major player in the life segment as well). Another key development, made in October 2011, has been the announcement from KBC that it hopes to extend its bancassurance business model to Bulgaria: for this reason, the Belgian financial services group is moving to full control of DZI. Overall, though, BMI stresses that the life segment will still be very underdeveloped at the end of the forecast period.
Over the last quarter, BMI has made the following changes: 􀂃 The trade regulator’s statistics for the first 11 months of 2011, which were published in Q112, have been incorporated into the analysis.
􀂃 There is a discussion of the results for last year that were released by insurers during Q112. 􀂃 The analysis takes into account BMI’s latest assessment of an economic environment that remains challenging.

Executive Summary . 5
Table: Total Premiums, 2008-2016 5
Key Insights And Key Risks . 5
SWOT Analysis 7
Bulgaria Insurance Industry SWOT ... 7
Bulgaria Political SWOT ... 8
Bulgaria Economic SWOT . 8
Bulgaria Business Environment SWOT .. 9
Life Sector .. 10
Central And Eastern Europe Life Sector Overview ... 10
Table: Central And Eastern Europe Life Premiums, 2009-2016 .. 10
Bulgaria Life Sector Update . 13
Table: Breakdown Of Life Segment Premiums, January-July 2010 . 13
Life Industry Forecast Scenario 14
Table: Life Premiums, 2008-2016 14
Growth Drivers And Risk Management Projections . 15
Population ... 15
Table: Insurance Key Drivers – Demographics, 2008-2016 15
Non-Life Sector .. 17
Central And Eastern Europe Non-Life Sector Overview ... 17
Table: Central And Eastern Europe Non-Life Premiums, 2009-2016 .. 17
Bulgaria Non-Life Sector Update.. 20
Table: Breakdown Of Non-Life Segment Premiums, January-July 2010 . 21
Non-Life Industry Forecast Scenario 22
Table: Non-Life Premiums, 2008-2016 22
Growth Drivers And Risk Management Projections . 23
Macroeconomic Outlook .. 23
Table: Bulgaria Economic Activity, 2011-2016 ... 26
Political Stability Outlook . 26
Table: Europe Security Risk Ratings 28
Table: National Health Insurance Fund Budget .. 30
Epidemiology ... 30
Table: Main Causes Of Death In Bulgaria (per 100,000 population) .. 31
Table: Insurance Key Drivers – Disability-Adjusted Life Years, 2008-2016 32
Motor ... 34
Insurance Risk/Reward Ratings ... 35
Table: Bulgaria’s Insurance Risk/Reward Ratings .. 35
Table: Europe Risk/Reward Ratings 36
Competitive Landscape 37
Competitive Landscape Analysis ... 37
Major Players In Bulgaria’s Insurance Sector 38
Table: Non-Life– Ranking Of Companies By Premiums, January-July 2010 ... 39
Table: Life – Ranking Of Companies By Premiums, January-July 2010 .. 40
Company Profiles .. 41
Local Company Profiles 41
Armeec . 41
Bul Ins .. 42
Lev Ins . 43
Regional Company Profiles .. 44
AEGON 44
Allianz .. 45
Aviva 47
AXA .. 49
BNP Paribas Cardif . 50
ERGO .. 51
Achmea 53
Generali ... 54
GRAWE 55
Groupama 56
HDI-Gerling/Talanx 57
ING .. 59
KBC Group .. 60
MetLife ALICO 61
Prudential Financial 63
QBE . 64
RSA .. 65
UNIQA . 66
Vienna Insurance Group .. 67
Zurich .. 69
BMI Methodology ... 70
Insurance Risk/Reward Ratings 71
Table: Insurance Business Environment Indicators And Rationale . 72
Table: Weighting Of Indicators 73Table: Total Premiums, 2008-2016. 5

Table: Central And Eastern Europe Life Premiums, 2009-2016 . 10

Table: Breakdown Of Life Segment Premiums, January-July 2010 . 13

Table: Life Premiums, 2008-2016 . 14

Table: Insurance Key Drivers – Demographics, 2008-2016 . 15

Table: Central And Eastern Europe Non-Life Premiums, 2009-2016 . 17

Table: Breakdown Of Non-Life Segment Premiums, January-July 2010 . 21

Table: Non-Life Premiums, 2008-2016 . 22

Table: Bulgaria Economic Activity, 2011-2016 . 26

Table: Europe Security Risk Ratings . 28

Table: National Health Insurance Fund Budget . 30

Table: Main Causes Of Death In Bulgaria (per 100,000 population) . 31

Table: Insurance Key Drivers – Disability-Adjusted Life Years, 2008-2016. 32

Table: Bulgaria's Insurance Risk/Reward Ratings . 35

Table: Europe Risk/Reward Ratings . 36

Table: Non-Life– Ranking Of Companies By Premiums, January-July 2010 . 39

Table: Life – Ranking Of Companies By Premiums, January-July 2010 . 40

Table: Insurance Business Environment Indicators And Rationale . 72

Table: Weighting Of Indicators. 73"

Bulgaria Insurance Report Q3 2012

Published By: Business Monitor International

Price:

How to Purchase

Purchase products from our site in 5 easy steps. Please follow the description given below to complete your purchase process.

Step 1:

Select the report title of your interest, and Click on Buy Now button next to the Price option.

Step 2:

You will arrive at the Purchase page, where you will be requested to Signup (New User) or Login (Registered User). Please note that in-keeping with the security check on the website, you must submit your full details to avoid any inconvenience arising from incorrectly entered data or counterfeit information.

Step 3:

After SignUp/Login, you will arrive at the Online Invoice Page. Select a Payment option via various methods: Debit Card / Credit Card / by Invoice. MarketReportOnline accepts Visa, MasterCard, American Express and all major credit cards. MarketReportOnline uses ICICI, HDFC, Citibank, American Express & Paypal as our Online Payment Gateway Partners. Clicking on a payment option will take you to the corresponding Payment Gateway page.

Step 4:

Once at the Payment Gateway, please complete the Payment Process to purchase your desired report.

Step 5:

Once you have successfully completed the purchase process, you will receive a confirmation email. You will then either be able to download your report immediately (in PDF Format) from the Account Login button, or the report will be emailed to you directly, depending upon the agreement we have with the publisher. For Orders that are deliverable via email and placed after working hours, the delivery of the reports will be made on the next business day. Please note, if you select purchase by invoice, you will receive your report only once the payment has been received. If you have any queries about how to order, please Contact Us .

sales@marketreportsonline.com + 1 888 391 5441

Using our subscription option, you get access to market research reports and industry data of Industry Profiles market as per your needs. Get the best of Industry Profiles research reports by utilizing your research budgets in an optimum way.
More about our Subscription option

Get Email alerts about market research reports from industries and publishers of your interest: