Boston, MA -- (SBWIRE) -- 08/27/2012 -- Key Insights And Key Risks
The Bulgaria Insurance Report considers the prospects for both life and non-life insurers in that country. The latest statistics from the Financial Supervision Commission (FSC) and comments from leading companies active in Bulgaria indicate that in both the main segments, premiums tracked sideways during 2011. The benefits of growth in compulsory motorist third-party liability (CMTPL) premiums have been offset by a decrease in voluntary auto insurance (CASCO) premiums, which suffered as a result of the general softness of the economy.
Various developments that have occurred through H112 indicate that the major companies are boosting profitability through measures to improve efficiency and reduce costs. Allianz's non-life business in Bulgaria improved its profitability in 2011. In early October 2011, Vienna Insurance Group announced that it would be merging Bulstrad with Bulgarski Imoti, in order to realise synergy benefits for a combined group that accounts for about 16% of the non-life market (and which is a major player in the life segment as well). Another key development, in late 2011, was the announcement from KBC that it hopes to extend its bancassurance business model to Bulgaria. For this reason, the Belgian financial services group is moving to full control of DZI. However, overall BMI stresses that the life segment will still be very underdeveloped at the end of the forecast period.
View Full Report Details and Table of Contents
Over the last quarter, BMI has made the following changes:
- The regulator's statistics for 2011 have been incorporated into the analysis.
- There is a discussion on the results from last year that were released by insurers during H112.
- The analysis takes into account BMI's latest assessment of an economic environment that remains challenging.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- United States Insurance Report Q4 2012
- Argentina Insurance Report Q4 2012
- New Zealand Insurance Report Q4 2012
- Russia Insurance Report Q4 2012
- Greece Insurance Report Q4 2012
- Mexico Insurance Report Q4 2012
- Canada Insurance Report Q4 2012
- Monthly Insurance Deals Roundup - February 2012
- QBE Insurance Group Limited - Strategy and SWOT Report
- Monthly Insurance Deals Round-up-March 2012