Bulgaria Insurance Report - Business Monitor International - Industry Reports

Bulgaria Insurance Report

Bulgaria Insurance Report - Business Monitor International - Industry Reports
Bulgaria Insurance Report
Published Sep 24, 2016
62 pages — Published Sep 24, 2016
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Abstract:

� Business Monitor International Ltd Page - average annual growth of -.- in US dollar terms to reach USD---mn. While this represents a relatively robust growth trend compared with the wider region, it is also modest for a country whose economy is expected to be among the fastest growing in the EU and where the life insurance market remains immature even with respect to other Central and Eastern European (CEE) states. ...� Business Monitor International Ltd Page - average annual growth of -.- in US dollar terms to reach USD---mn. While this represents a relatively robust growth trend compared with the wider region, it is also modest for a country whose economy is expected to be among the fastest growing in the EU and where the life insurance market remains immature even with respect to other Central and Eastern European (CEE) states. This relatively lacklustre outlook reflects the traditional constraints that have held back Bulgaria s life insurance market, namely lack of disposable income, the overall size of the middle class and a general lack of understanding regarding the benefits of life policies. ...That said, our projections for household income growth in Bulgaria suggest that the expansion of the country s middle class will serve as a longer-term driver of discretionary items such as life insurance. The numbers of households earning between USD--,--- and USD--,--- are set to rise during the forecast period, though we note at the same time that the total number of households in Bulgaria will fall to a low birth rate and high rates of emigration.

...< ALACRA META ABSTRACT>BMI View: Bulgaria s insurance market is among the least developed of the EU states we monitor and is also less mature than most other markets in the Central and Eastern Europe (CEE) region. Low household incomes and discretionary spending have constrained the growth of the sector, resulting in the dominance of compulsory lines such as motor vehicle insurance in place of life insurance and other discretionary lines. ...< ALACRA META ABSTRACT>BMI View: Bulgaria s insurance market is among the least developed of the EU states we monitor and is also less mature than most other markets in the Central and Eastern Europe (CEE) region. Low household incomes and discretionary spending have constrained the growth of the sector, resulting in the dominance of compulsory lines such as motor vehicle insurance in place of life insurance and other discretionary lines. While a favourable economic climate and rising household incomes should support growth in both the life and non-life sectors over, the expansion is likely to be at a moderate pace. Likewise, multinationals will continue to gradually increase their exposure to the market through the introduction of new product lines, as well as through the acquisition of smaller indigenous firms. Table: Headline Insurance Forecasts (Bulgaria ---------) ---- ---- ---- ----f ----f ----f ----f ----f Gross life premiums written, BGNbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.-- Gross life premiums written, BGN, y-o-y --.- --.- --.- -.- -.- -.- -.- -.- Gross life premiums written, USDbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.-- Gross life premiums written, USD, y-o-y --.- --.- --.- --.- -.- -.- -.- -.- Gross non-life premiums written, BGNbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.-- Gross non-life premiums written, BGN, y-o-y -.- -.- -.- --.- -.- -.- -.- -.- Gross non-life premiums written, USDbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.--

...In August ----, results from stress tests conducted on Bulgaria s banking system showed the country s banks to have stabilised since the ---- banking crisis, and are no longer in need of state support. The outcome has led us to improve our forecasts for credit/financial guarantee premiums and will also help to support growth in other lines. ...

  
Source:
Document ID
1752-7961
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Bulgaria Insurance Report" Sep 24, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Bulgaria-Insurance-Report-2026-237>
  
APA:
Business Monitor International - Industry Reports. (2016). Bulgaria Insurance Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Bulgaria-Insurance-Report-2026-237>
  
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