The Insurance Industry in Bulgaria - Key Trends and Opportunities to 2022

GlobalData
173 Pages - GLDATA66746
$1,450.00

Summary

GlobalData’s "The Insurance Industry in Bulgaria - Key Trends and Opportunities to 2022", report provides detailed analysis of the market trends, drivers and challenges in the Bulgarian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bulgarian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’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.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

This report provides in-depth market analysis, information and insights into the Bulgarian insurance industry, including -
- The Bulgarian insurance industry's growth prospects by segment and category
- A comprehensive overview of the Bulgarian economy and demographics
- Details of the competitive landscape in the Bulgarian insurance industry
- The various distribution channels in the Bulgarian insurance industry
- Details of regulatory policy applicable to the Bulgarian insurance industry
- Analysis of natural hazards in the Bulgarian insurance industry

Key Highlights

- In June 2018, the State Fund of Agriculture increased the funding for agricultural insurance.
- As of 2017, there were 38 insurance companies operating in Bulgaria, of which 26 were general insurers and 12 were life insurers.
- In September 2017, the European Commission (EC) adopted regulations related to the mis-selling of insurance products.
- In 2015, Uniqa launched a mobile application called myUNIQA for reporting claims online.

Scope

- This report provides a comprehensive analysis of the insurance industry in Bulgaria.
- It provides historical values for the Bulgarian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key segments in the Bulgarian insurance industry, with market forecasts to 2022.
- It covers an exhaustive list of parameters, including written premium and claims.
- It analyzes the various distribution channels in Bulgaria.
- It profiles the top 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 insurance industry and each segment and category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Bulgarian insurance industry.
- Assess the competitive dynamics in the Bulgarian insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Bulgarian insurance industry and their impact on companies and the industry's future.



Companies Mentioned
Bulstrad Vienna Insurance Group
Lev Ins
Armeec JSC
DZI General Insurance
Allianz Bulgaria
Generali Insurance - Bulgaria
Euroins AD
Bul Ins JSC
OZK Insurance
Allianz Bulgaria Life

'

Table of Contents
1 KEY FACTS AND HIGHLIGHTS 2
2 EXECUTIVE SUMMARY 3
3 ECONOMY AND DEMOGRAPHICS 13
4 INDUSTRY OUTLOOK 21
4.1 Industry Indicators 23
4.1.1 Gross written premium 23
4.1.2 Direct written premium 25
4.1.3 Insurance density 27
4.1.4 Paid claims 28
5 LIFE INSURANCE OUTLOOK 29
5.1 Segment Indicators 30
5.1.1 Gross written premium 30
5.1.2 Direct written premium 32
5.1.3 Paid claims 33
5.1.4 Penetration 34
5.1.5 Assets and investments 35
6 GENERAL INSURANCE OUTLOOK 39
6.1 Segment Indicators 41
6.1.1 Gross written premium 41
6.1.2 Direct written premium 43
6.1.3 Paid claims 44
6.1.4 Penetration 45
6.1.5 Loss ratio 46
6.1.6 Assets and investments 47
6.2 Property Insurance 51
6.2.1 Gross written premium 51
6.2.2 Penetration 53
6.2.3 Claims 54
6.3 Motor Insurance 55
6.3.1 Gross written premium 55
6.3.2 Penetration 57
6.3.3 Claims 58
6.4 Liability Insurance 59
6.4.1 Gross written premium 59
6.4.2 Penetration 61
6.4.3 Claims 62
6.5 Financial Lines Insurance 63
6.5.1 Gross written premium 63
6.5.2 Penetration 65
6.5.3 Claims 66
6.6 Marine, Aviation and Transit Insurance 67
6.6.1 Gross written premium 67
6.6.2 Penetration 69
6.6.3 Claims 70
6.7 Personal Accident and Health Insurance 71
6.7.1 Gross written premium 71
6.7.2 Penetration 73
6.7.3 Claims 74
7 REINSURANCE OUTLOOK 75
7.1 Premium Ceded 76
8 DISTRIBUTION CHANNEL OUTLOOK 79
9 NATURAL AND MAN-MADE HAZARDS 80
9.1 Flooding 80
9.2 Storms 80
9.3 Earthquakes 81
9.4 Exposure 81
10 COMPETITIVE LANDSCAPE 82
10.1 Company Profiles 86
10.1.1 Lev Ins AD - company overview 86
10.1.2 Bulstrad Vienna Insurance Group - company overview 86
10.1.3 Armeec Insurance JSC - company overview 87
10.1.4 DZI General Insurance - company overview 87
10.1.5 Allianz Bulgaria - company overview 88
11 GOVERNANCE, RISK AND COMPLIANCE 89
11.1 Legislation Overview and Historical Evolution 90
11.2 Latest Changes in Regulation 92
11.3 Legislation and Market Practice by Type of Insurance 109
11.3.1 Life Insurance 110
11.3.2 Property Insurance 112
11.3.3 Motor Insurance 115
11.3.4 Liability insurance 117
11.3.5 Marine, aviation and transit insurance 118
11.3.6 Personal accident and health insurance 119
11.4 Compulsory Insurance 121
11.4.1 Motor third-party liability insurance 122
11.4.2 Personal accident insurance for passengers on public transport 123
11.4.3 Workmen’s compensation 124
11.4.4 Air carriers and aircraft operators insurance 124
11.4.5 Professional indemnity insurance for alternative investment fund managers 125
11.4.6 Liability for ships with respect to oil pollution 126
11.4.7 Social insurance system 126
11.5 Supervision and Control 128
11.5.1 International Association of Insurance Supervisors 128
11.5.2 European Insurance and Occupational Pensions Authority 129
11.5.3 Financial Supervision Commission 129
11.5.4 Federation of European Risk Management Associations 130
11.6 Non-Admitted Insurance Regulation 131
11.6.1 Overview 131
11.6.2 Intermediaries 131
11.6.3 Market practices 132
11.6.4 Fines and Penalties 132
11.7 Company Registration and Operations 133
11.7.1 Type of insurance organization 134
11.7.2 Establishing a local company 134
11.7.3 Foreign ownership 136
11.7.4 Types of license 137
11.7.5 Capital requirements 138
11.7.6 Solvency margin 138
11.7.7 Reserve requirements 139
11.7.8 Investment regulations 140
11.7.9 Statutory return requirements 141
11.7.10 Fee structure 141
11.8 Taxation 145
11.8.1 Insurance premium or policy taxation 145
11.8.2 Withholding taxes on premium paid overseas 145
11.8.3 Corporate tax 145
11.8.4 VAT 146
11.8.5 Captives 146
11.9 Legal System 147
11.9.1 Introduction 147
11.9.2 Access to court 148
11.9.3 Alternative dispute resolution 148
12 DATABOOK 151
12.1 Life Insurance 151
12.1.1 Policies and premium 151
12.1.2 Claims and expenses 152
12.1.3 Assets and investments 153
12.2 General Insurance 154
12.2.1 Policies and premium 154
12.2.2 Claims and expenses 155
12.2.3 Assets and investments 156
12.2.4 Property insurance 157
12.2.5 Property insurance by category 158
12.2.6 Motor insurance 159
12.2.7 Motor insurance by category 160
12.2.8 Liability insurance 161
12.2.9 Financial lines insurance 162
12.2.10 Marine, aviation and transit insurance 163
12.2.11 Marine, aviation and transit insurance by category 164
12.2.12 Personal accident and health insurance 165
12.2.13 Personal accident and health insurance by category 166
13 DEFINITIONS AND METHODOLOGY 167
13.1 Definitions 167
13.2 Methodology 169
14 ABOUT GLOBALDATA 171
14.1 Contact GlobalData 171
14.2 About GlobalData 171
14.3 GlobalData’s Services 172
14.4 Disclaimer 173

List of Tables
Table 1: Bulgarian Insurance Industry - Key Facts, 2017 2
Table 2: Bulgarian Insurance Industry - Industry Shares of the Top Insurers, 2017 2
Table 3: Bulgarian Government Credit Ratings 15
Table 4: Bulgarian Insurance Industry - Gross Written Premium (BGN Billion and US$ Billion), 2013-2017 23
Table 5: Bulgarian Insurance Industry - Gross Written Premium (BGN Billion and US$ Billion), 2017-2022 23
Table 6: Bulgarian Insurance Industry - Direct Written Premium (BGN Billion and US$ Billion), 2013-2017 25
Table 7: Bulgarian Insurance Industry - Direct Written Premium (BGN Billion and US$ Billion), 2017-2022 25
Table 8: Bulgarian Insurance Industry - Density (BGN), 2013-2017 27
Table 9: Bulgarian Insurance Industry - Density (BGN), 2017-2022 27
Table 10: Bulgarian Insurance Industry - Paid Claims (BGN Million and US$ Million), 2013-2017 28
Table 11: Bulgarian Insurance Industry - Paid Claims (BGN Million and US$ Million), 2017-2022 28
Table 12: Bulgarian Life Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 30
Table 13: Bulgarian Life Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 30
Table 14: Bulgarian Life Insurance - Direct Written Premium (BGN Million and US$ Million), 2013-2017 32
Table 15: Bulgarian Life Insurance - Direct Written Premium (BGN Million and US$ Million), 2017-2022 32
Table 16: Bulgarian Life Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 33
Table 17: Bulgarian Life Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 33
Table 18: Bulgarian Life Insurance - Total Assets (BGN Billion and US$ Billion), 2013-2017 35
Table 19: Bulgarian Life Insurance - Total Assets (BGN Billion and US$ Billion), 2017-2022 35
Table 20: Bulgarian Life Insurance - Total Investment Income (BGN Million and US$ Million), 2013-2017 36
Table 21: Bulgarian Life Insurance - Total Investment Income (BGN Million and US$ Million), 2017-2022 36
Table 22: Bulgarian Life Insurance - Investment Portfolio (BGN Million), 2013-2017 37
Table 23: Bulgarian Life Insurance - Investment Portfolio (BGN Million), 2017-2022 37
Table 24: Bulgarian General Insurance - Gross Written Premium (BGN Billion and US$ Billion), 2013-2017 41
Table 25: Bulgarian General Insurance - Gross Written Premium (BGN Billion and US$ Billion), 2017-2022 41
Table 26: Bulgarian General Insurance - Direct Written Premium (BGN Billion and US$ Billion), 2013-2017 43
Table 27: Bulgarian General Insurance - Direct Written Premium (BGN Billion and US$ Billion), 2017-2022 43
Table 28: Bulgarian General Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 44
Table 29: Bulgarian General Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 44
Table 30: Bulgarian General Insurance - Total Assets (BGN Billion and US$ Billion), 2013-2017 47
Table 31: Bulgarian General Insurance - Total Assets (BGN Billion and US$ Billion), 2017-2022 47
Table 32: Bulgarian General Insurance - Total Investment Income (BGN Million and US$ Million), 2013-2017 48
Table 33: Bulgarian General Insurance - Total Investment Income (BGN Million and US$ Million), 2017-2022 48
Table 34: Bulgarian General Insurance - Investment Portfolio (BGN Million), 2013-2017 49
Table 35: Bulgarian General Insurance - Investment Portfolio (BGN Million), 2017-2022 49
Table 36: Bulgarian Property Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 51
Table 37: Bulgarian Property Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 51
Table 38: Bulgarian Property Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 54
Table 39: Bulgarian Property Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 54
Table 40: Bulgarian Motor Insurance - Gross Written Premium (BGN Billion and US$ Million), 2013-2017 55
Table 41: Bulgarian Motor Insurance - Gross Written Premium (BGN Billion and US$ Million), 2017-2022 55
Table 42: Bulgarian Motor Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 58
Table 43: Bulgarian Motor Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 58
Table 44: Bulgarian Liability Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 59
Table 45: Bulgarian Liability Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 59
Table 46: Bulgarian Liability Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 62
Table 47: Bulgarian Liability Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 62
Table 48: Bulgarian Financial Lines Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 63
Table 49: Bulgarian Financial Lines Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 63
Table 50: Bulgarian Financial Lines Insurance - Paid Claims (BGN Million and US$ Million013-2017 66
Table 51: Bulgarian Financial Lines Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 66
Table 52: Bulgarian Marine, Aviation and Transit Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 67
Table 53: Bulgarian Marine, Aviation and Transit Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 67
Table 54: Bulgarian Marine, Aviation and Transit Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 70
Table 55: Bulgarian Marine, Aviation and Transit Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 70
Table 56: Bulgarian Personal Accident and Health Insurance - Gross Written Premium (BGN Million and US$ Million), 2013-2017 71
Table 57: Bulgarian Personal Accident and Health Insurance - Gross Written Premium (BGN Million and US$ Million), 2017-2022 71
Table 58: Bulgarian Personal Accident and Health Insurance - Paid Claims (BGN Million and US$ Million), 2013-2017 74
Table 59: Bulgarian Personal Accident and Health Insurance - Paid Claims (BGN Million and US$ Million), 2017-2022 74
Table 60: Bulgarian Reinsurance - Premium Ceded by Insurance Segment (BGN Million), 2013-2017 76
Table 61: Bulgarian Reinsurance - Premium Ceded by Insurance Segment (BGN Million), 2017-2022 76
Table 62: Bulgarian Insurance Industry - Market Shares of Leading Insurers (%), 2017 83
Table 63: Bulgarian Insurance Industry - Market Shares of Leading Life Insurers (%), 2017 84
Table 64: Bulgarian Insurance Industry - Market Shares of Leading General Insurers (%), 2017 85
Table 65: Lev Ins AD - Key Facts 86
Table 66: Bulstrad Vienna Insurance Group - Key Facts 86
Table 67: Armeec Insurance JSC - Key Facts 87
Table 68: DZI General Insurance - Key Facts 87
Table 69: Allianz Bulgaria - Key Facts 88
Table 70: Bulgaria - Insurance Regulatory Framework Key Features 89
Table 71: Bulgaria - Life Insurance Regulatory Framework 110
Table 72: Bulgaria - Property Insurance Regulatory Framework 112
Table 73: Bulgaria - Motor Insurance Regulatory Framework 115
Table 74: Bulgaria - Liability Insurance Regulatory Framework 117
Table 75: Bulgaria - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft 125
Table 76: Bulgaria - Corporate Tax Rates for the Financial Year 2018 146
Table 77: Bulgarian Life Insurance - Policies and Premium, 2013-2017 151
Table 78: Bulgarian Life Insurance - Policies and Premium, 2017-2022 151
Table 79: Bulgarian Life Insurance - Claims and Expenses, 2013-2017 152
Table 80: Bulgarian Life Insurance - Claims and Expenses, 2017-2022 152
Table 81: Bulgarian Life Insurance - Assets and Investments, 2013-2017 153
Table 82: Bulgarian Life Insurance - Assets and Investments, 2017-2022 153
Table 83: Bulgarian General Insurance - Policies and Premium, 2013-2017 154
Table 84: Bulgarian General Insurance - Policies and Premium, 2017-2022 154
Table 85: Bulgarian General Insurance - Claims and Expenses, 2013-2017 155
Table 86: Bulgarian General Insurance - Claims and Expenses, 2017-2022 155
Table 87: Bulgarian General Insurance - Assets and Investments, 2013-2017 156
Table 88: Bulgarian General Insurance - Assets and Investments, 2017-2022 156
Table 89: Bulgarian General Insurance - Property Insurance, 2013-2017 157
Table 90: Bulgarian General Insurance - Property Insurance, 2017-2022 157
Table 91: Bulgarian General Insurance - Property Insurance by Category, 2013-2017 158
Table 92: Bulgarian General Insurance - Property Insurance by Category, 2017-2022 158
Table 93: Bulgarian General Insurance - Motor Insurance, 2013-2017 159
Table 94: Bulgarian General Insurance - Motor Insurance, 2017-2022 159
Table 95: Bulgarian General Insurance - Motor Insurance by Category, 2013-2017 160
Table 96: Bulgarian General Insurance - Motor Insurance by Category, 2017-2022 160
Table 97: Bulgarian General Insurance - Liability Insurance, 2013-2017 161
Table 98: Bulgarian General Insurance - Liability Insurance, 2017-2022 161
Table 99: Bulgarian General Insurance - Financial Lines Insurance, 2013-2017 162
Table 100: Bulgarian General Insurance - Financial Lines Insurance, 2017-2022 162
Table 101: Bulgarian General Insurance - Marine, Aviation and Transit Insurance, 2013-2017 163
Table 102: Bulgarian General Insurance - Marine, Aviation and Transit Insurance, 2017-2022 163
Table 103: Bulgarian General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017 164
Table 104: Bulgarian General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022 164
Table 105: Bulgarian General Insurance - Personal Accident and Health Insurance, 2013-2017 165
Table 106: Bulgarian General Insurance - Personal Accident and Health Insurance, 2017-2022 165
Table 107: Bulgarian General Insurance - Personal Accident and Health Insurance by Category, 2013-2017 166
Table 108: Bulgarian General Insurance - Personal Accident and Health Insurance by Category, 2017-2022 166
Table 109: Insurance Industry Definitions 167

List of Figures
Figure 1: Bulgarian Real GDP (BGN Billion), 2013-2022 14
Figure 2: Bulgarian Exchange Rate (BGN per US$), 2013-2022 16
Figure 3: Bulgarian Consumer Price Inflation (%), 2013-2022 17
Figure 4: Bulgarian Current Account Balance as Percentage of GDP (%), 2013-2022 18
Figure 5: Bulgarian Unemployment Rate, 2013-2022 19
Figure 6: Bulgarian Population by Age Group, 2013-2022 20
Figure 7: Bulgarian Insurance Industry - Gross Written Premium (BGN Billion), 2013-2022 24
Figure 8: Bulgarian Insurance Industry - Direct Written Premium (BGN Billion), 2013-2022 26
Figure 9: Bulgarian Insurance Industry - Density (BGN), 2013-2022 27
Figure 10: Bulgarian Insurance Industry - Paid Claims (BGN Million), 2013-2022 28
Figure 11: Bulgarian Life Insurance - Gross Written Premium (BGN Million), 2013-2022 31
Figure 12: Bulgarian Life Insurance - Direct Written Premium (BGN Million), 2013-2022 32
Figure 13: Bulgarian Life Insurance - Paid Claims (BGN Million), 2013-2022 33
Figure 14: Bulgarian Life Insurance - Penetration (%), 2013-2017 34
Figure 15: Bulgarian Life Insurance - Penetration (%), 2017-2022 34
Figure 16: Bulgarian Life Insurance - Total Assets (BGN Billion), 2013-2022 35
Figure 17: Bulgarian Life Insurance - Total Investment Income (BGN Million), 2013-2022 36
Figure 18: Bulgarian Life Insurance - Investment Portfolio (BGN Million), 2013-2022 38
Figure 19: Bulgarian Life Insurance - Investment Portfolio Dynamics (BGN Million), 2013-2022 38
Figure 20: Bulgarian General Insurance - Gross Written Premium (BGN Billion), 2013-2022 42
Figure 21: Bulgarian General Insurance - Direct Written Premium (BGN Billion), 2013-2022 43
Figure 22: Bulgarian General Insurance - Paid Claims (BGN Million), 2013-2022 44
Figure 23: Bulgarian General Insurance - Penetration (%), 2013-2017 45
Figure 24: Bulgarian General Insurance - Penetration (%), 2017-2022 45
Figure 25: Bulgarian General Insurance - Loss Ratio (%), 2013-2017 46
Figure 26: Bulgarian General Insurance - Loss Ratio (%), 2017-2022 46
Figure 27: Bulgarian General Insurance - Total Assets (BGN Billion), 2013-2022 47
Figure 28: Bulgarian General Insurance - Total Investment Income (BGN Million), 2013-2022 48
Figure 29: Bulgarian General Insurance - Investment Portfolio (BGN Million), 2013-2022 50
Figure 30: Bulgarian General Insurance - Investment Portfolio Dynamics (BGN Million), 2013-2022 50
Figure 31: Bulgarian Property Insurance - Gross Written Premium (BGN Million), 2013-2022 52
Figure 32: Bulgarian Property Insurance - Penetration (%), 2013-2017 53
Figure 33: Bulgarian Property Insurance - Penetration (%), 2017-2022 53
Figure 34: Bulgarian Property Insurance - Paid Claims (BGN Million), 2013-2022 54
Figure 35: Bulgarian Motor Insurance - Gross Written Premium (BGN Billion), 2013-2022 56
Figure 36: Bulgarian Motor Insurance - Penetration (%), 2013-2017 57
Figure 37: Bulgarian Motor Insurance - Penetration (%), 2017-2022 57
Figure 38: Bulgarian Motor Insurance - Paid Claims (BGN Million), 2013-2022 58
Figure 39: Bulgarian Liability Insurance - Gross Written Premium (BGN Million), 2013-2022 60
Figure 40: Bulgarian Liability Insurance - Penetration (%), 2013-2017 61
Figure 41: Bulgarian Liability Insurance - Penetration (%), 2017-2022 61
Figure 42: Bulgarian Liability Insurance - Paid Claims (BGN Million), 2013-2022 62
Figure 43: Bulgarian Financial Lines Insurance - Gross Written Premium (BGN Million), 2013-2022 64
Figure 44: Bulgarian Financial Lines Insurance - Penetration (%), 2013-2017 65
Figure 45: Bulgarian Financial Lines Insurance - Penetration (%), 2017-2022 65
Figure 46: Bulgarian Financial Lines Insurance - Paid Claims (BGN Million), 2013-2022 66
Figure 47: Bulgarian Marine, Aviation and Transit Insurance - Gross Written Premium (BGN Million), 2013-2022 68
Figure 48: Bulgarian Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017 69
Figure 49: Bulgarian Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022 69
Figure 50: Bulgarian Marine, Aviation and Transit Insurance - Paid Claims (BGN Million), 2013-2022 70
Figure 51: Bulgarian Personal Accident and Health Insurance - Gross Written Premium (BGN Million), 2013-2022 72
Figure 52: Bulgarian Personal Accident and Health Insurance - Penetration (%), 2013-2017 73
Figure 53: Bulgarian Personal Accident and Health Insurance - Penetration (%), 2017-2022 73
Figure 54: Bulgarian Personal Accident and Health Insurance - Paid Claims (BGN Million), 2013-2022 74
Figure 55: Bulgarian Reinsurance - Premium Ceded by Insurance Segment (BGN Million), 2013-2022 77
Figure 56: Bulgarian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022 78
Figure 57: Bulgarian General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022 78
Figure 58: Bulgarian Insurance Industry - Market Shares of Leading Insurers (%), 2017 83
Figure 59: Bulgarian Insurance Industry - Market Shares of Leading Life Insurers (%), 2017 84
Figure 60: Bulgarian Insurance Industry - Market Shares of Leading General Insurers (%), 2017 85
Figure 61: Bulgaria - The Three Pillars of Solvency II 100
Figure 62: Bulgaria - Insurance Supervision and Control at Various Levels 128
Figure 63: Bulgaria - Insurance Regulatory Frameworks for Company Registration and Operation 133

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