site.btaAssets Managed by Insurance Companies Up 12.3% in September, Y/Y

The assets managed by insurance companies operating in Bulgaria amounted to BGN 10.378 billion at the end of September 2023, increasing by 12.3% year on year and by 1.7% compared to the the end of June 2023, show data published by the central bank.

The assets of life insurance companies accounted for 26.8% of all assets in late September, compared to a share of 28.4% in late June 2023. In September, they amounted to BGN 2.781 billion, up by 6% from the same month of 2022 and by 0.1% from end-June 2023. 

The assets managed by general insurance companies had a share of 73.2% of all assets, compared to 71.6% at end-June 2022. They reached BGN 7.597 billion at end-September, up by 14.9% from September 2022 and by 2.4% from June 2023. 

In the currency breakdown of the assets of insurance companies at the end of September 2023, the assets denominated in EUR prevailed with a share of 40.3%, compared to 37.4% at the end of June 2023. Assets denominated in BGN were 33% against 36.1% as of the end of September 2022. The assets denominated in other currencies were 23.7%, compared to 23.1% as of the end of September 2022.