site.btaInsurance Companies Managing BGN 10.2 Bln in Assets at End-June 2023

The funds managed by insurance companies in Bulgaria amounted to BGN 10.2 billion at the end of June 2023, the Bulgarian National Bank (BNB) said on Monday.

Year-on-year, they increased by BGN 1.028 billion (11.2%) and decreased by BGN 82.2 million (0.8%) compared to March.

Assets of life insurance companies increased by BGN 67.3 million (2.5%) to BGN 2.783 billion at the end of June. Assets managed by general insurance companies grew by BGN 960.4 million (14.9%) over the year to BGN 7.418 billion.

The assets denominated in EUR prevailed in the currency breakdown of the assets of insurance companies at the end of June 2023. Their share of the amount of total assets was 38.6% compared to 38.3% at the end of the second quarter of 2022. Assets denominated in BGN were 34.5% against 36.4% as of the end of June 2022. The assets denominated in USD were 3% in June 2023, compared to 3.2% at the end of June 2022.