Financial Services & Insurance Research News

Non-life insurance in Bulgaria's key trends and opportunities to 2020 just published

Non-life insurance in Bulgaria's key trends and opportunities to 2020 just published

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

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WiseGuyReports published new report, titled “Non-Life Insurance in Bulgaria, Key Trends and Opportunities”.

Synopsis 

'Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Bulgarian non-life insurance segment, and a comparison of the Bulgarian insurance industry with its regional counterparts.

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bulgarian economy and demographics, explains the various types of natural hazard and their impact on the Bulgarian insurance industry, and provides detailed information on the competitive landscape in the country.

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The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

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Summary 

'Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Bulgarian non-life insurance segment, including:

  • The Bulgarian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Bulgarian economy and demographics
  • A comparison of the Bulgarian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Bulgarian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Bulgarian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Bulgaria
  • Details of regulatory policy applicable to the Bulgarian insurance industry

Scope 

This report provides a comprehensive analysis of the non-life insurance segment in Bulgaria:

  • It provides historical values for the Bulgarian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Bulgarian non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Bulgarian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Bulgaria.
  • It analyzes various natural hazards and their impact on the Bulgarian insurance industry
  • It profiles the top non-life insurance companies in Bulgaria, and outlines the key regulations affecting them.

Key points to access

  • Make strategic business decisions using in-depth historic and forecast market data related to the Bulgarian non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Bulgarian non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Bulgarian insurance industry, and their impact on companies and the industry's future.

Key Highlights 

  • Motor insurance was the largest non-life insurance category, accounting for 74.2% of the segment’s gross written premium in 2015.
  • Standard property insurance in Bulgaria covers burglary, theft and natural hazards.
  • The Bulgarian non-life segment is highly concentrated, with the 10 leading companies accounting for 87.2% of the gross written premium in 2015.
  • Solvency II came into effect on January 1, 2016, and is expected to have a considerable effect on the Bulgarian insurance industry. It is a reform of risk-management and capital-adequacy requirements to ensure a more accurate allocation of capital to risk.

Table of Contents 

1 Key Facts and Highlights 
2 Executive Summary 
3 Economy and Demographics 
4 Segment Outlook 
    4.1 Regional Comparison 
    4.2 Segment Indicators 
    4.2.1 Gross written premium and penetration 
    4.2.2 Claims 
    4.2.3 Profitability 
    4.2.4 Assets and investments 

..CONTINUED

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