32 LICENSED INSURANCE COMPANIES ON BG MARKET

Views on BG | March 3, 2002, Sunday // 00:00

A total of 32 insurance companies and 103 insurance brokers, licensed according to international requirements, operate on the Bulgarian insurance market, Yordan Choukov, Insurance Supervision Agency Chief Secretary, said. Foreigners participate in half of the insurance companies. In 2000 alone, the share of foreign capital in the equities of Bulgarian insurers increased to 22.9 %, Choukov said.

Choukov specified that insurance companies with a foreign participating interest accounted for 65.32% of the gross premium income of all insurers in 2000. In general insurance, motor and property insurance account for some 80% of the premium income and this share keeps rising. Bulgarians tend to insure their property rather than their health and life, he added. The share of financial loss insurance, credit insurance, and legal expenses insurance, which are new to the Bulgarian market, has been increasing over the last two years.

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