2013-09-15 09:31:14 - New Financial Services market report from Business Monitor International: "Bulgaria Insurance Report Q4 2013"
Key Insights And Key Risks
As of mid-2013, the latest statistics from the Financial Supervision Commission (FSC) and comments from leading companies active in Bulgaria indicate that the insurance sector is, and will remain, underdeveloped through the forecast period. Motor related premiums, which account for nearly threequarters of the non-life segment, have been constrained by the general softness of the economy (and, we suspect, competition in what is a fragmented market place). Fire and property cover accounts for about onefifth of the premiums in the non-life segment.
Full Report Details at
- www.fastmr.com/prod/673158_bulgaria_insurance_report_q4_2013.asp ..
Life insurance continues to develop - if from a low base. At a little over US$20 per capita, density is at a level which indicates that many households are
too poor (and/or lack the understanding of the benefits) to use the offerings of life insurers in organised savings.
Over the last two years or so, several of the leading players have taken steps to boost profitability. KBC moved to full control of DZI so that the Belgian group could extend its proven bancassurance business model to Bulgaria. VIG has merged two subsidiaries in the country - Bulstrad and Bulgarski Imoti - in order to realise synergy benefits. The very dominant position of multi-nationals in both major segments of Bulgaria's insurance sector should be considered a major strength.
Report Table of Contents:
BMI Industry View
- Table: Total Premiums, 2010-2017
- Business Environment
- Table: Life Premiums, 2010-2017
- Non Life
- Table: Non Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Central and Eastern European Risk/Reward Ratings
- Table: Europe Risk/Reward Ratings
- Bulgaria Insurance Risk/Reward Ratings
- Table: Bulgaria's Insurance Risk/Reward Ratings
- Life Sector Update
- Non Life Sector Update
Industry Trends And Developments
- Life Growth Drivers And Risk Management Projections
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non Life Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Political Stability Outlook
- Table: Europe Regional Security Ratings (scores out of 100, with 100 the best)
- Healthcare Sector
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
- Table: Insurance Key Drivers, Autos 2010-2017
- Bulgaria Competitive Landscape
- Central And Eastern Europe Competitive Landscape
- Vienna Insurance Group (VIG)
- Central And Eastern Europe Non Life Sector Overview
- Table: Central And Eastern European Non-Life Premiums, 2010-2017 (US$mn)
- Central And Eastern Europe Life Sector Overview
- Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn)
- Demographic Outlook
- Table: Bulgaria's Population By Age Group, 1990-2020 ('000)
- Table: Bulgaria's Population By Age Group, 1990-2020 (% of total)
- Table: Bulgaria's Key Population Ratios, 1990-2020
- Table: Bulgaria's Rural And Urban Population, 1990-2020
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Ratings Indicators And Rationale
- Table: Weighting Of Indicators
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