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Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021

Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021' 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.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income during the review period (2012–2016) and forecast period (2016–2021).

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.

The report brings together Timetric’s 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.

Summary

Timetric’s 'Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021' 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 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key categories in the Bulgarian non-life insurance segment, and market forecasts to 2021.
  • 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.
Reasons To Buy
  • 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
  • On February 16, 2017, the European Insurance and Occupational Pensions Authority (EIOPA) published a decision regarding the collaboration of insurance regulatory authorities from all European Union (EU) member states, in accordance with the requirements stipulated in the Solvency II directive.
  • On February 2, 2017, the European Parliament and Council published the new Insurance Distribution Directive 2016/97 in the official journal of the EU.
  • In April 2016, the European Council concluded the regulation of EU data protection reforms, applicable from May 24, 2018.
  • Solvency II came into effect on January 1, 2016, and is expected to have a considerable effect on the Bulgarian insurance industry.
  • In June 2016, CertAsig launched bond insurance in Bulgaria, which will cover the non-contractual risk between companies and project beneficiaries.


  • Key Facts and Highlights
    • Table Bulgarian Non-Life Insurance - Key Facts, 2016
    • Table Bulgarian Non-Life Insurance - Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Bulgarian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Bulgarian Non-Life Insurance - Gross Written Premium (BGN Billion and US$ Billion), 2012-2016
        • Table Bulgarian Non-Life Insurance - Penetration (%), 2012-2016
        • Table Bulgarian Non-Life Insurance - Gross Written Premium (BGN Billion and US$ Million), 2016-2021
        • Table Bulgarian Non-Life Insurance - Penetration (%), 2016-2021
        • Table Bulgarian Non-Life Insurance - Premium per Capita (BGN and US$), 2012-2016
        • Table Bulgarian Non-Life Insurance - Premium per Capita (BGN and US$), 2016-2021
      • Claims
        • Table Bulgarian Non-Life Insurance - Paid Claims (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Non-Life Insurance - Paid Claims (BGN Million and US$ Million), 2016-2021
      • Profitability
        • Table Bulgarian Non-Life Insurance - Profitability Ratio (%), 2012-2016
        • Table Bulgarian Non-Life Insurance - Profitability Ratio (%), 2016-2021
      • Assets and investments
        • Table Bulgarian Non-Life Insurance - Total Assets (BGN Billion and US$ Billion), 2012-2016
        • Table Bulgarian Non-Life Insurance - Total Assets (BGN Billion and US$ Billion), 2016-2021
        • Table Bulgarian Non-Life Insurance - Total Investment Income (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Non-Life Insurance - Total Investment Income (BGN Million and US$ Million), 2016-2021
        • Table Bulgarian Non-Life Insurance - Investment Portfolio (BGN Million), 2012-2016
        • Table Bulgarian Non-Life Insurance - Investment Portfolio (BGN Million), 2016-2021
  • Outlook by Category
    • Table Bulgarian Non-Life Insurance - Direct Written Premium by Category (BGN Million), 2012-2016
    • Table Bulgarian Non-Life Insurance - Direct Written Premium by Category (BGN Million), 2016-2021
    • Property Insurance
      • Product overview
      • Premium
        • Table Bulgarian Property Insurance - Direct Written Premium by Sub-Category (BGN Million), 2012-2016
        • Table Bulgarian Property Insurance - Direct Written Premium by Sub-Category (BGN Million), 2016-2021
      • Claims
        • Table Bulgarian Property Insurance - Paid Claims (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Property Insurance - Paid Claims (BGN Million and US$ Million), 2016-2021
    • Motor Insurance
      • Product overview
        • Table Bulgarian Motor Insurance - Number of Registered Vehicles by Type (Thousand), 2011-2016
      • Premium
        • Table Bulgarian Motor Insurance - Direct Written Premium by Sub-Category (BGN Million), 2012-2016
        • Table Bulgarian Motor Insurance - Direct Written Premium by Sub-Category (BGN Million), 2016-2021
      • Claims
        • Table Bulgarian Motor Insurance - Paid Claims (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Motor Insurance - Paid Claims (BGN Million and US$ Million), 2016-2021
    • Liability Insurance
      • Product overview
      • Premium
        • Table Bulgarian Liability Insurance - Direct Written Premium (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Liability Insurance - Direct Written Premium (BGN Million and US$ Million), 2016-2021
      • Claims
        • Table Bulgarian Liability Insurance - Paid Claims (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Liability Insurance - Paid Claims (BGN Million and US$ Million), 2016-2021
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Bulgarian Transport Network - Global Rankings
        • Table Bulgarian Aviation Insurance - Passenger Traffic (Million), 2011-2015
      • Premium
        • Table Bulgarian Marine, Aviation and Transit Insurance - Direct Written Premium (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Marine, Aviation and Transit Insurance - Direct Written Premium (BGN Million and US$ Million), 2016-2021
      • Claims
        • Table Bulgarian Marine, Aviation and Transit Insurance - Paid Claims (BGN Million and US$ Million), 2012-2016
        • Table Bulgarian Marine, Aviation and Transit Insurance - Paid Claims (BGN Million and US$ Million), 2016-2021
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Bulgarian Non-Life Insurance - Direct Written Premium by Distribution Channel (BGN Million), 2012-2016
      • Table Bulgarian Non-Life Insurance - Direct Written Premium by Distribution Channel (BGN Million), 2016-2021
      • Table Bulgarian Non-Life Insurance - Percentage of Direct Written Premium by Channel, 2012-2021
      • Brokers
      • Agencies
      • Direct marketing
      • Bancassurance
      • E-commerce
  • Natural and Man-Made Hazards
    • Table Bulgaria Average Annual Loss by Hazard, 1990-2014
    • Flooding
    • Storms
    • Earthquakes
    • Man-Made Hazards
    • Exposure
  • Competitive Landscape
    • Table Bulgarian Non-Life Insurance - Segment Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Armeec Insurance JSC - company overview
        • Table Armeec Insurance JSC - Key Facts
        • Table Armeec Insurance JSC - Key Financials (BGN Million), 2012-2016
      • LEV INS AD Insurance Company - company overview
        • Table LEV INS AD Insurance Company - Key Facts
        • Table LEV INS AD - Key Financials (BGN Million), 2012-2016
      • Bulstrad Vienna Insurance Group - company overview
        • Table Bulstrad Vienna Insurance Group - Key Facts
        • Table Bulstrad Vienna Insurance Group - Key Financials (BGN Million), 2012-2016
      • Allianz Bulgaria - company overview
        • Table Allianz Bulgaria - Key Facts
        • Table Allianz Bulgaria - Key Financials (BGN Million), 2012-2016
      • DZI - General Insurance - company overview
        • Table DZI - General Insurance - Key Facts
        • Table DZI - General Insurance - Key Financials (US$ Million), 2012-2016
  • Governance, Risk and Compliance
    • Table Bulgaria - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table Bulgaria - Life Insurance Regulatory Framework
      • Property Insurance
        • Table Bulgaria - Property Insurance Regulatory Framework
      • Motor Insurance
        • Table Bulgaria - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Bulgaria - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Personal accident insurance for passengers on public transport
      • Workmen's compensation
      • Air carriers and aircraft operators insurance
        • Table Bulgaria - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Liability for ships with respect to oil pollution
      • Social insurance system
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Financial Supervision Commission
      • Federation of European Risk Management Associations
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Bulgaria - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Bulgarian Insurance Industry - Policies and Premium, 2012-2016
      • Table Bulgarian Insurance Industry - Policies and Premium, 2016-2021
    • Claims and Expenses
      • Table Bulgarian Non-Life Insurance - Claims and Expenses, 2012-2016
      • Table Bulgarian Non-Life Insurance - Claims and Expenses, 2016-2021
    • Assets and Investments
      • Table Bulgarian Non-Life Insurance - Assets and Investments, 2012-2016
      • Table Bulgarian Non-Life Insurance - Assets and Investments, 2016-2021
    • Direct Marketing and E-Commerce
      • Table Bulgarian Non-Life Insurance - Direct Marketing and E-Commerce, 2012-2016
      • Table Bulgarian Non-Life Insurance - Direct Marketing and E-Commerce, 2016-2021
    • Insurance Brokers and Agencies
      • Table Bulgarian Non-Life Insurance - Insurance Brokers and Agencies, 2012-2016
      • Table Bulgarian Non-Life Insurance - Insurance Brokers and Agencies, 2016-2021
    • Property Insurance
      • Table Bulgarian Non-Life Insurance - Property Insurance, 2012-2016
      • Table Bulgarian Non-Life Insurance - Property Insurance, 2016-2021
    • Property Insurance by Product
      • Table Bulgarian Non-Life Insurance - Property Insurance by Product, 2012-2016
      • Table Bulgarian Non-Life Insurance - Property Insurance by Product, 2016-2021
    • Motor Insurance
      • Table Bulgarian Non-Life Insurance - Motor Insurance, 2012-2016
      • Table Bulgarian Non-Life Insurance - Motor Insurance, 2016-2021
    • Motor Insurance by Product
      • Table Bulgarian Non-Life Insurance - Motor Insurance by Product, 2012-2016
      • Table Bulgarian Non-Life Insurance - Motor Insurance by Product, 2016-2021
    • Liability Insurance
      • Table Bulgarian Non-Life Insurance - Liability Insurance, 2012-2016
      • Table Bulgarian Non-Life Insurance - Liability Insurance, 2016-2021
    • Marine, Aviation and Transit Insurance
      • Table Bulgarian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
      • Table Bulgarian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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