site.btaAssets Managed by Insurers Operating in Bulgaria Grow 8.3 Per Cent to Lv 6,619 Mln in 2016

Assets Managed by Insurers Operating in Bulgaria Grow 8.3 Per Cent to Lv 6,619 Mln in 2016

Sofia, March 13 (BTA) - The assets managed by insurance companies operating in Bulgaria amounted to 6,619 million leva at the end of December 2016, the Bulgarian National Bank reported on Monday. They increased by 501.8 million leva (8.2 per cent) from 6,117 million leva at the end of December 2015 and by 109.9 million leva (1.7 per cent) from 6,509 million leva at the end of the third quarter of 2016.

The assets of life insurance companies increased by 173.2 million (10.4 per cent) from 1,659 million leva at the end of December 2015 to 1,832 million leva at the end of the same month of 2016. Compared to the 1,829 million leva at the end of September 2016, they increased by 2.7 million leva (0.1 per cent).

The assets managed by general insurance companies rose by 328.8 million leva (7.4 per cent) from 4,458 million leva at the end of December 2015 to 4,787 million at the end of the same month of 2016. They increased by 107.4 million leva (2.3 per cent) from 4,680 million leva at the end of September 2016.

The liabilities of insurance companies amounted to 6,619 million leva at the end of December 2016. Equity capital was 2,036 million leva at the end of the fourth quarter of 2016, increasing by 99.6 million leva (5.1 per cent) from 1,936 million leva at the end of December 2015.

At the end of the fourth quarter of 2016, insurance technical reserves increased by 396 million leva (11.2 per cent) to 3,924 million leva from 3,528 million leva at the end of December 2015. Liabilities to residents included in the insurance technical reserves amounted to 2,604 million leva at the end of the fourth quarter of 2016, up from 2,427 million leva at the end of the same quarter of 2015. At the end of December 2016 the liabilities to households and non-profit institutions serving households increased by 156.4 million leva (8.6 per cent) to 1,966 million leva from 1,810 million leva at the end of December 2015.

On an annual basis, the liabilities to non-financial corporations increased by 20.5 million leva (4 per cent) to 531.1 million leva from 510.7 million leva at the end of December 2015. At the end of December 2016, the liabilities to monetary financial institutions increased by 1.2 million leva (1.6 per cent) to 78.2 million leva from 76.9 million leva at the end of the fourth quarter of 2015. Liabilities to non-residents (Rest of the World sector) at the end of the fourth quarter of 2016 increased by 219.4 million leva (19.9 per cent) to 1,320 million leva from 1,101 million leva at the end of the same quarter of 2015.