Boston, MA -- (ReleaseWire) -- 04/17/2014 -- The life segment is the second-largest in the Bulgarian insurance industry, accounting for 15.2% of its gross written premium in 2012. Life insurance penetration decreased from 0.4% in 2008 to 0.3% in 2012 and is expected to remain at 0.3% in 2017. The gross written premium registered by the segment is expected to increase at a CAGR of 3.0%.
- The life segment is the second-largest in the Bulgarian insurance industry, accounting for 15.2% of its gross written premium in 2012.
- The tax rate is expected to make bank deposits less popular among Bulgarians and make some of them divert a proportion of their savings to life insurance products.
- Bulgarian life insurers are heavily dependent upon agencies, which accounted for 47% of the total new business gross written premium collected in 2012.
- The Bulgarian life insurance segment is concentrated, with the five leading life insurers together accounting for 67.4% of the segment's written premiums in 2012.
- As of 2012, 16 companies had licenses to conduct life insurance business."
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This report provides a comprehensive analysis of the life insurance segment in Bulgaria:
- It provides historical values for the Bulgarian life insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key categories in the Bulgarian life insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Bulgaria.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Bulgaria for the life insurance business.
- It provides a detailed analysis of the reinsurance segment in Bulgaria and its growth prospects.
- It profiles the top life insurance companies in Bulgaria and outlines the key regulations affecting them."
Reasons to Get this Report
- Make strategic business decisions using in-depth historic and forecast market data related to the Bulgarian life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Bulgarian life insurance segment
- Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Bulgarian insurance industry and its impact on companies and the market's future"
Companies Mentioned in this Report: Allianz Bulgaria Life Insurance Company Ltd., Bulstrad Life Vienna Insurance Group, DZI Insurance, Uniqa Life, UBB-Alico Life Insurance Company, Grawe Bulgaria Life Insurance, Alico Bulgaria Life Insurance Company, Groupama Zhivotozastrahovane EAD, Syvzk, Generali Life Insurance AD
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