Bulgarian insurance market reported Q1 2026 GWP worth EUR 695.75 billion, which is 0.4% less y-o-y, according to the official quarterly figures published on Financial Supervisory Commission website.

Life insurers' GWP increased by 44.4% to EUR 155.5 million, while non-life insurers' GWP fell by 8.58% to EUR 540.27 billion, mostly driven by the 31.75% drop in MTPL insurance GWP.

The reported contraction of the MTPL segment in Q1 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. One year before, DallBogg accounted for about 15.4% of the non-life market, reporting GWP worth EUR 90.9 million in Q1 2025. Although the Financial Supervision Commission withdraw its license in June 2026 due to non-compliance with Solvency II capital requirements, the insurer's business was excluded from the official market data already in the Q1 report, particularly influencing the MTPL segment where it held a significant market share.

Consequently, y-o-y comparisons should be treated as non-comparable.

The same goes for the “claims chapter”, where apparently the value of paid claims by insurers decreased by 7.6% y-o-y, to EUR 271.22 million. While indemnities paid for life insurance increased by 28.3%, claims paid for non-life insurance decreased by 14.8%.

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 (41.6% market share), followed by BULSTRAD Life VIG and ALLIANZ Bulgaria Life.

Euroins (14.8% market share), BULSTRAD Vienna Insurance Group (12.31%) and DZI - General insurance (11.38%) are the Top 3 non-life insurers.

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