Bulgaria Insurance Report Q3 2009

Bulgaria Insurance Report Q3 2009

Published By: Business Monitor International
June 2009
R302-6647
Online Download $495.00

Description

This report was written in late May 2009. Relative to the Q209 report, the main changes pertain to theprofiles of companies - both regional and predominantly local - which have been updated considerably.We have also included a brief overview of conditions - and development of premium income - throughQ109. This is based on comments made by major (mainly listed) companies which became available (forthe most part) from mid-May. We hope to build on this section in terms of detail.

As we explain, Q109 was in many ways a challenging but far from disastrous quarter for the majorprotagonists in most markets. Notwithstanding the fact that particular non-life markets suffered as a resultof a slump in the number of cars registered, and correspondingly lower demand for compulsory thirdparty motor (CTPM) insurance and voluntary motor insurance, global non-life premiums generally heldup well in spite of the global economic downturn. In contrast, life premiums were, in most markets, lowerin Q109 than they had been in Q108. This was largely the result of the past volatility in global equitymarkets, although there were also other problems. Conditions remain fair in the global reinsurancemarket.

In terms of the major regions whose insurance markets are covered by BMI’s reports, Latin America andthe Middle East and North Africa stood out in terms of growth in premiums (in non-life insurance inparticular, but also in life insurance). Conditions were far more mixed in Central and Eastern Europe(particularly in non-life insurance, where the downturn in car registrations hit hard) and Asia Pacific(where various factors caused slippage in life premiums in many markets).

Revision Of Data And Forecasts

We have updated the insurance data for 2008 - and our forecasts for the next five years. In many cases,preliminary or final figures for last year have been published by the regulator or the trade association. Insome cases, we have estimated figures for 2008, but on the basis of information that has been published inrelation to a significant portion of the year. In some cases though, we have based our 2008 estimate onresults disclosed by individual companies operating in the market in question.

Table of Contents

Executive Summary: The Sector At A Glance
Table: Overview Of Bulgaria’s Insurance Sector: Key Insights On Bulgaria’s Insurance Sector; SWOT Analysis; Bulgaria Insurance Industry SWOT; Bulgaria Political SWOT; Bulgaria Economic SWOT; Bulgaria Business Environment SWOT; Global Overview; Global Review Of Q109; The Global Financial Crisis
Table: Selected European Countries: Budget And Current Account, 2008 (as % of GDP): Projections And Forecasts
Table: Insurance Data And Projections, 2006-2013: Projections And Drivers Of Growth
Table: Growth Drivers, 2006-2013: Country Update; Macroeconomic Activity
Table: Bulgaria - Economic Activity, 2006 - 2013: Domestic Politics; Insurance Business Environment Rating
Table: Bulgaria - Insurance Business Environment Indicators
Table: Central And Eastern Europe Insurance Business Environment Rankings: Regional Context
Table: Non-Life Premiums In A Regional Context, 2008
Table: Life Premiums In A Regional Context, 2008
Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006: Bulgaria’s Insurance Market Protagonists; Analysis Of Competitive Conditions; Regional Overview; Local Company Profiles; Bulstrad Vienna Insurance Group; Lev Ins AD Insurance Company; Regional Company Profiles; AEGON; AIG; Allianz; Aviva; AXA; Cardif; Ergo; Erste Group; Eureko; Fortis; Generali; Grawe; Groupama; HDI-Gerling; HSBC Insurance; ING; KBC Group; MetLife; Prudential Financial; QBE; RSA; UNIQA; Vienna Insurance Group; Zurich; Country Snapshot: Bulgaria Demographic Data; Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030: Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030: Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Wages, 2000-2012: Methodology; Basis Of Projections; Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators

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