LIFE INSURANCE IN BULGARIA GOES UP WITH 50%

Business | December 3, 2001, Monday // 00:00

Life insurance in Bulgaria increased with 50% in the January-October 2001 period, Allianz Bulgaria Life Insurance Co. AD, GRAWE-Bulgaria AD and the EUROLIFE Bulgaria EOOD insurance broker announced at a joint press conference. The insurance companies performed better than expected which proves that people in Bulgaria gradually accept the idea of life insurance, according to Siegbert Schutzenhofer, principal shareholder in OC Occident Holding AG of Zug, Switzerland, which owns EUROLIFE Bulgaria. In Europe, life insurance accounts for 50-60% of the entire insurance industry. In Bulgaria, this share was just 11 % in 2000.
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