Motor Insurance Is Still On Top In The Field Of Non-life Insurance

Life Insurance Generated Some BGN 102 Million And Health Insurance - BGN 14 Million For The First Half Of 2007

Gross Premia In The Field Of Non-life Insurance Amounted To Approximately BGN 600 Million
Non-life insurance gross premia for the second three-month period of 2007 came to BGN 595 786 thousand, having realised growth of 17.97% on an annual basis, announced FSC. The average payments made amounted BGN 204 919 thousand, registering 21.11% increase on an annual basis. The gross technical reserves amount - the resources available for future average payments - increased by 31.57% on an annual basis and amount BGN 797 670 thousand. The technical results from non-life insurance transactions came to BGN 592 thousand as compared to BGN 35 551 thousand for the second three-month period of 2006.
The assets of the non-life insurance companies for the same period came to BGN 1 203 232 thousand as the growth on annual basis came to BGN 27.32%.
The five leading companies in the field hold 62.88% of the market and the first three leading companies - 43.72%. The greatest premium for the first 6 months was realised by Bulstrad Insurance and Reinsurance Company, with a market share of 16.54%. The company was placed first for the first three-month period as well with a market share of 19.49% (as compared to its 14.02% market share in the end of 2006).
The 2006 leader - DZI General Insurance - is now placed second with a market share of 14.01%. And the number two for the first three-month period - Allianz Bulgaria - is now placed third with a market share of 13.17%. The results once again confirm the tendency for the smaller companies to increase their market shares on account of the major companies. The fourth and fifth on the market are, respectively, Bul Ins and Lev Ins. The premium realised by the Bulgarian Agency for Export Insurance came to BGN 669 057.
The analysis of the first six months of the year show that the market is still dominated by Autocasco motor insurance sales an MTPL insurance sales, including the sales of Green Card insurance, which make 64.4%. The relative portion of the average payments made in the field of motor insurance came to 88.9%. Autocasco realised greater premium incomes by 38.8%, General Liability insurance - up by 34.9% and insurance against fire and natural disasters - 8%.

Life Insurance Achieved Growth Of Approximately 24%
Life insurance gross premia for the second three-month period of 2007 came to BGN 101 722 thousand, having realised growth of 23.69% on an annual basis. The average payments made amounted BGN 26 388 thousand, registering 19.12% increase on an annual basis. The gross technical reserves increase by 36.19% to the amount of BGN 309 766 thousand. The technical results from life insurance transactions came to BGN 7 282 thousand as compared to BGN 2 438 thousand in 2006. The assets of the life insurance products came to BGN 681 850 thousand realising growth of 75.37% on an annual basis.
The analysis confirms the tendency for concentration of the market- the three leading companies hold 60.61% of the market. The top three positions are held by the same companies as during the first three months of 2007. First comes Allianz Bulgaria Life with a market share of 26.88%, followed by DZI, with a market share of 19.13% and third comes Uniqa Life with its market share of 15.82%. The top two positions in the life insurance chart are quite stable but the runner-ups are pretty changeable, AIG Life Bulgaria, for instance, was third in 2006 and dropped to position number five during the first three months of 2007 to come fourth in the second three months. Uniqa Life, however, was positioned fifth in the end of 2006 and is placed third for the first three months and held it for the next three months as well. Generali Life Insurance was placed fourth in the end of 2006 and for the first 3 months of 2007 and dropped one position for the second three-month period.
Life&Annuities realised the greatest premium incomes and made the most average payments with the respective 73.6% and 67%. Life insurance achieved greater growth by 47.80%, Accident insurance realise increase of 44.16%, Unit-linked life insurance products - 24.46%.

The Smaller Companies Continue To Augment Their Market Shares In The Field Of Health Insurance
The premium incomes for the second third-month period in the field of supplementary health insurance came to BGN 14 366 thousand, i.e. have registered growth of 5.09% on an annual basis. The average payments made amounted BGN 6 983 thousand, having registered increase of 16.57% on an annual basis. The technical results of the supplementary health insurance activities came to BGN (-311) thousand as compared to BGN 679 thousand for the second three months of 2006. By the end of the second three-month period the assets of the health insurance companies came to BGN 42 875 thousand, registering 61.46% increase on an annual basis.
The three leading companies hold 70% of the market. The indisputablenumber one in the field of health insurance in Zakrila Generali with a market share of 41%, followed by Mediko-21 and HOME-Zdrave with the respective, significantly less 16% and 13%. The first two companies in the field, however, lost some market share percentage points in favour of the smaller companies; Zakrila Generali lost 6 percentage points and Medico-21 - 4 percentage points.
The "Other Health Insurance Products" set of services made the most of the premia and the average payments with the respective 33.05% and 25.95%. As far as premium incomes are concerned the set of services mentioned above realised growth of 81.27% on an annual basis as compared to Non-hospital Medical Care set of services which realised growth of 12.18% and Dental Medical Care - 0.97%.