Банкеръ Weekly

Briefs

THE BULGARIAN INSURES HIS CAR FIRST OF ALL, AND HIS WIFE NEXT

GROWTH IN THE BRANCH EXCEEDED 20% WITHIN THE LAST SIX MONTHSThe main maxim on the Bulgarian insurance market is still The car first, and the wife second, judging from data for the first six months of 2004. Proceeds from life insurance within the period amounted to BGN41.48MN, a modest amount as compared to the BGN300MN, collected from the sale of property policies. Car insurances still hold the lion's share - 62% - of the insurance portfolio. The Casco polices alone account for 35% of the entire market, and the obligatory Civil Liability for vehicles - for another 26 per cent. Insurances against fire, natural disasters and damages of personal property follow, and all the other kinds of policies have a trifling share (less than 2%) in the insurance basket. Premium proceeds from property insurances for the first half of 2004 increased by 20.6% from the same period of 2003, and paid off compensations totalled BGN107,308,000. More than 63MN of that amount was paid under Casco policies, and Civil Liability compensations amounted to BGN28.6MN. Three companies share the leadership position in general insurance for the first six months of this yеar: Bulstrad insurance and reinsurance company (with 18.07% market share and proceeds of BGN59,810,000-plus), DZI-General Insurance (with 15.38% market share and proceeds of BGN50,887,000), and Allianz Bulgaria insurance and reinsurance company (with 15.19% market share and proceeds of BGN50,264,000). Premium proceeds from life insurance for the first half of 2004 amounted to BGN41,480,000, almost 28% up year-on-year. Paid compensations totalled BGN17,587,000. Life and Rent (65.45%) remain best-sellers in the package of such insurances.

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