Bulgaria
STATISTICS: BULGARIA, 1Q202: insurers end-March profits decreased to EUR 30.3 million
Bulgarian insurance market totaled BGN 885.4 million (EUR 452.7 million) at the end of March 2022, up by 9.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
12 July 2022KBC completes acquisition of RBI's Bulgarian operations
Belgian financial group KBC announced that KBC Bank and Raiffeisen Bank International (RBI) completed the deal announced in November 2021 concerning the acquisition of 100% of the shares of Raiffeisen bank (Bulgaria) EAD, comprising RBI's Bulgarian banking operations.
11 July 2022BULGARIA: Despite the crises, the insurance market is performing steadily
"Despite the crises, the insurance market is performing steadily. During the pandemic, the sector managed to adapt very quickly to new conditions of doing business in a digital environment, transform processes, maintain and further develop communication with customers", said Nina KOLCHAKOVA, Secretary General of the Association of Bulgarian Insurers (ABZ).
30 June 2022Balkan Insurance Brokers' annual meeting gathered over 100 professionals in Nis, Serbia
The annual meeting of Balkan Insurance Brokers took place in the city of Nis, Serbia on 3-5 June. Over 100 attendees from Balkan Insurance Brokers network in Bulgaria and Romania attended the reunion, as well as representatives of insurers Euroins and Uniqa from Bulgaria, and Euroins and Grawe from Romania.
27 June 2022BULGARIA: Yuri KOPACH, Deputy Chairman of the Board of ABZ, wins the prize "For overall contribution to the development of Bulgarian insurance"
Yuri KOPACH, Deputy Chairman of the Management Board of ABZ (Association of Bulgarian Insurers) and Member of the Management Board and Executive Director of Generali Zastrahovane was awarded the national prize "For overall contribution to the development of Bulgarian insurance" of the Foundation "Prof. Dr. Veleslav GAVRIYSKI", ABZ said.
24 May 2022BULGARIA: Leading experts joined the discussion "Life Insurance - Protection and Investment", organized by ABZ and Bulgaria ON AIR on April 10
Life insurance in Bulgaria is experiencing an impressive rise. The development and potential of life insurance, its benefits to consumers and mechanisms for managing the funds invested by clients were among the topics commented during the discussion "Life Insurance - Protection and Investment" organized by the Association of Bulgarian Insurers and Bulgaria ON AIR on April 10, 2022.
12 April 2022Eurohold seeks to acquire the remaining shares of the minority in CEZ Distribution and CEZ Electro
Bulgarian holding Eurohold announced that its energy subholding - Eastern European Electric Company (EEEC) and majority shareholder in CEZ Distribution Bulgaria and CEZ Electro Bulgaria, has registered with the Financial Supervision Commission (FSC) tender offers for the purchase of the shares of the minority shareholders in both companies.
11 April 2022STATISTICS: Bulgarian insurers' YE2021 net profits expanded by 65% y-o-y to EUR 145 m
Bulgarian insurance market ended 2021 with a total GWP of BGN 3.24 billion (EUR 1.66 billion), up by 12.73% y-o-y, according to the market figures from the Bulgarian Financial Supervision Commission (FSC).
6 April 2022BULGARIA: Life Insurance - Protection and Investment. Bulgaria ON AIR and ABZ bring together leading experts in a discussion on life insurance on April 10
The organizers of the debut project "Life Insurance - Protection and Investment" are ABZ (Association of Bulgarian Insurers) and Bulgaria ON AIR, the discussion will be broadcast on April 10 at 17:30, the Association said.
5 April 2022BULGARIA: Konstantin VELEV, Chairman of ABZ: Life insurance is booming
Life insurance is marked by a remarkable rise, the growth rate is ahead of the non-life insurance, which is a relatively rare situation for the Bulgarian market. As of October 2021, GWP in life insurance reached BGN 483 million (+34%) (~EUR 247 million), and paid claims increased by 23% to BGN 181 million, the Association said.
30 March 2022BULGARIA: MoitePari.bg and ABZ study: Lack of information is the main reason for lack of interest in life insurance
In Bulgaria, the lack of interest in life insurance is due to lack of information, according to the study conducted by the website MoitePari.bg and the Association of Bulgarian Insurers, aimed at establishing consumer attitudes towards life insurance products with a total of 371 participants, the Association said.
15 March 2022Eurohold announced the rebranding of CEZ Group's subsidiaries in Bulgaria
Eurohold -the largest public Bulgarian holding and one of the largest financial and energy groups in Southeast Europe announced the rebranding of the group's energy operations in Bulgaria.
14 March 2022BULGARIA: ABZ: MTPL prices has increased since the mid-2021 by about 10%
According to Konstantin VELEV, chairman of ABZ (Association of Bulgarian Insurers), "a gradual increase in MTPL prices has been observed since the mid-2021 - by about 10% compared to the beginning of last year", ABZ announced on its website.
8 February 2022Bulgaria: Insurers' Q3 net profits expanded by 37% y-o-y to EUR 124 m
Bulgarian insurance market posted aggregate 9 months 2021 net profit of BGN 242.2 million (EUR 123.8 million), 37% more as compared with the snapshot on 30 September 2020 (BGN 176.8 million/EUR 90.4 million), according to the market statistics published on FSC website.
17 January 2022BULGARIA: in 10M2021 the life insurers' business up 34% y-o-y, while the non-life went up 8.1%
In 10M2021 the combined net profit of life insurance companies in Bulgaria increased to BGN 52.5 million (EUR 26.8 million) from BGN 21.9 million in the like period of 2020, SeeNews reports with reference to the country's financial regulator.
17 January 2022STATISTICS: Bulgarian insurers posted double-digit increase in January-September business
Bulgarian insurance market totaled BGN 2.44 billion (EUR 1.24 billion) at the end of September 2021, up by 12.7% y-o-y, according to the official quarterly figures from the Financial Supervision Commission - FSC.
17 January 2022BULGARIA: in 9M2021 the insurers' assets rose to EUR 5.06 billion
For the first 9 months of 2021 the assets of Bulgarian insurers increased by 9.3% y-o-y to about BGN 9.9 billion (~EUR 5.06 billion*), SeeNews wrote according to the statement of the country's central bank said.
15 December 2021KBC acquires Bulgarian ops of Raiffeisen Bank International for EUR 1.02 bn
Belgium-based KBC Bank and Austria-based Raiffeisen Bank International ('RBI') reached an agreement for KBC to acquire 100% of the shares of Raiffeisen bank (Bulgaria) EAD, comprising RBI's Bulgarian banking operations.
22 November 2021Eurohold will hold over 88% of CEZ Distribution and more than 69% of CEZ Electro
The majority shareholder of CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD - Eastern European Electric Company B.V. (EEEC), part of urohold Bulgaria AD, will increase its interests in the two companies to 88.2% and 69.3% of the capital, respectively, as a result of the public tender offers carried out and following the completion of the deals with the shareholders that have accepted the offers.
15 November 2021FSC approved the EEEC tender offers for CEZ Distribution and CEZ Electro
Last week, Bulgaria's FSC (Financial Supervision Commission) has approved the EEEC revised public tender offers for the acquisition of the remaining 33% interests it does not own in power distributor CEZ Distribution Bulgaria and power supplier CEZ Electro Bulgaria.
18 October 2021
