October 2 (SeeNews) - Bulgaria-based non-life insurance companies increased their gross written premiums to 1.40 billion levs ($781 million/716 million euro) in the first seven months of 2019 from 1.17 billion levs in the same period of last year, according to data from the Financial Supervision Commission.
The rise was mostly driven by motor vehicle liability insurance premiums, which grew to 647.4 million levs in the January-July period of 2019 from 501.7 million levs in the comparable period of 2018, financial regulator data, published on Tuesday, showed.
Motor insurance premiums formed 73.6% of the total gross premiums in the review period, followed by fire, natural forces and property insurance with 11.9% of the total, and accident and sickness with 4.8%.
Lev Ins was the biggest player on the non-life insurance market with gross premiums of 198.8 million levs in the first seven months of the year, equal to a market share of 14.2%.
Bulstrad Vienna Insurance Group and DZI - General Insurance followed with market shares of 12.3% and 10.5% in the review period.
Euroins and Armeec wrapped up the top five, with market shares of 9.8% and 9.4%, respectively.
Lev Ins and Euroins improved their performance the most, adding 45.4 million levs and 44.6 million levs, respectively, to their total gross written premiums on a year-on-year basis.
(1 euro = 1.95583 levs)
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