Most profitable and most unprofitable insurance companies in Bulgaria

The hail in 2014 seriously reduced the profits of the insurance companies in general around the country, according to final data of the Financial Supervision Commission. For the full year, companies in the sector reported profits of 1.8 mln. Levs to 66 million levs positive financial result for the year earlier. The greatest losses in the sector reported Armeec and Bulstrad Vienna Insurance Group, respectively 10.879 million levs 10.2 million lev, while Generali closed the year with a loss of 9.177 million lev the loss of more than 1 million lev are still Unica (6.3 mln. Levs), Allianz Bulgaria (5.6 million lev), HDI Insurance (1.95 million lev) and Groupama Insurance (1.4 million lev). At the opposite pole are Energy and Victoria, reported profits of 22.6 million levs and 7.5 million lev and DZI General Insurance with a positive financial result of EUR 6.2 million lev profit of over 1 million lev are still Bul Ins BAEZ and UBB, AIG. At the end of 2014 the leaders in market share Lev Ins, Armeec and Bulstrad Vienna Insurance Group ahead of DZI General Insurance and Allianz Bulgaria. Leaders Lev Ins Bul Ins hold respectively 24.6 and 16.3 percent market share of insurance “liability”. Armeec and OZK Insurance are the other major players in the mandatory policy with 10.9 and 10.1 percent of the market, while DZI General Insurance is 8.5 per cent. Nearly 2/3 of Car Insurance policies are made in four companies. Leader here is Armeec 24.5%, followed by Allianz Bulgaria and Bulstrad Vienna Insurance Group with 13.71 and 13.69 percent, while DZI is 13.67%. The leader in civil liability – Lev Ins, occupies the fifth position with 6.4 per cent. Fire and natural distress Energy Allianz Bulgaria and Bulstrad Vienna Insurance Group hold over 54 percent of the market in the sector.