Bulgarian insurance market reported Q1 2026 GWP worth EUR 1.42 billion, which is 1.74% more y-o-y, according to the official quarterly figures published on Financial Supervisory Commission.

Life insurers' GWP increased by 37.9% to EUR 293.93 million, while non-life insurers' GWP fell by 4.77% to EUR 1.12 billion, mostly driven by the 23.7% drop in MTPL insurance GWP. The reported contraction of the MTPL segment in H1 2026 primarily reflects a change in the reporting perimeter following the exclusion of DallBogg from the official market statistics, rather than a deterioration in underlying market demand. Consequently, y-o-y comparisons should be treated as non-comparable. Moreover, it seems the y-o-y fall is decreasing from quarter to quarter, the market recovering after last year’s shock.

The same goes for the “claims chapter”, where apparently the value of paid claims by insurers decreased by 6.86% y-o-y, to EUR 567.4 million. While indemnities paid for life insurance increased by 18.3%, claims paid for non-life insurance decreased by 12%.

Since 1 January 2026 the euro replaced the Bulgarian lev (BGN) as the country's official currency For the Bulgarian insurance market, euro adoption represented more of an operational milestone than an economic turning point. Thanks to the long-standing currency board and the lev's fixed exchange rate against the euro, insurers faced limited financial disruption, while benefiting from greater operational efficiency, easier cross-border business and deeper integration into the European insurance market.

In GWP terms, DZI Life Insurance claimed the top rank on the life insurance market (38% market share), followed by BULSTRAD Life VIG and ALLIANZ Bulgaria Life.

Euroins (15.7% market share), BULSTRAD Vienna Insurance Group (12.21%) and DZI - General insurance (11.74%) are the Top 3 non-life insurers.

Access xprimm.com and download the latest Bulgarian insurance market statistics.