Банкеръ Weekly

Briefs

INSURERS HAVE SOLD 28,083 GREEN CARDS FOR THREE MONTHS

A total of 28,083 Green Card insurances have been sold within the three months since eight insurance companies began offering this service on the market, the Green Card National Bureau announced.The greatest number of sold insurances - 15,433 in all - are those with 15-day validity and only 3,995 have a one-year validity, according to the report of the Green Card National Bureau. From April till end-June the eight insurance companies also sold 1,536 one-month, 4,906 three-month, and 2,213 six-month policies.The premium proceeds of the eight insurers from the sale of Green Cards in the April - June 2002 period totaled BGN7.9MN.According to branch experts and as it becomes evident from statistical data, most of the insurance companies are most frequently selling short-term policies, used for holiday trips.A number of the big transport companies still prefer Bulstrad's services. With more than 18,000 sold Green Cards the company accounts for about 80% of this market.The State Insurance Institute (DZI) ranks among the most efficient sellers of Green Cards who recently started offering the service. From the beginning of April until mid-July the state-owned insurer sold 3,073 Green Card policies, realizing premium proceeds of BGN800,000, company insiders specified. One reason for the success is the fact that yet in the start of the summer holiday season the company offered attractive insurance packages, mainly intended for the holiday-makers. Following DZI is Allianz Bulgaria insurance and reinsurance company. It has sold 1,774 cards for the past three months. Vitosha insurance company sold 1,100 Green Cards within the same period and its premium income from this service amounted to BGN350,000, insiders announced. EuroIns ranks very close after it with 1,080 insurances sold and BGN383,000 premium income reported. About two months ago the company launched two service packages on the market: EuroIns-Greentour and EuroIns-Greentrans. Both of them are directed to transporters and individuals who travel abroad in the summer.Bul Ins managed to market 1,012 Green Card policies, which brought it about BGN260,000 in premium proceeds. We expect better results in end-July, the Executive Director Yordan Kifov commented for the BANKER weekly.Closely behind are Orel insurance company (910 Green Cards sold) and Jupiter insurance company (450). The difference in the amount of policies sold, despite the negotiated single lowest tariffs, is due to the fact that companies began to offer the service at a different time, experts comment. On April 1, 2002, when the Green Card National Bureau was officially set up, only Bulstrad and three other companies - Allianz Bulgaria, Orel and DZI - launched this service . Almost all of the other insurers began to offer the service in end-April and early-May.

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