Assets Managed by Insurance Companies Stand at LV 8.135 Bln at End-June 2019

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10-09-2019 03:09:00
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Assets managed by insurance companies operating in Bulgaria amounted to 8.135 billion leva as of the end of June 2019, the Bulgarian National Bank reported on September 9. They increased by 532.4 million leva (7 per cent) compared to the end of June 2018.

Assets of life insurance companies increased by 12.5 per cent, from 2.078 billion leva as of the end of June 2018 to 2.338 billion leva at the end of the same month of 2019. At the end of June 2019 their share in the total assets was 28.7 per cent.

Assets managed by general insurance companies increased by 4.9 per cent, from 5.525 billion leva as of the end of June 2018 to 5.797 billion leva at the end of the same month of 2019. As of the end of June 2019 the share of the assets of general insurance companies in the overall assets was 71.3 per cent,
compared to 72.7 per cent at the end of the second quarter of 2018.

In the currency breakdown of the assets of insurance companies at the end of June 2019, the assets denominated in leva prevailed. Their share of the amount of total assets was 40.2 per cent and remained unchanged compared to the end of the second quarter of 2018. Assets denominated in euro were 33.5 per cent, against 30 per cent as of the end of June 2018. At the end of the second quarter of 2019 the assets denominated in US dollars were 3.8 per cent, compared to 3.6 per cent at the end of June 2018. The assets denominated in other currencies were 22.5 per cent, compared to 26.2 per cent as of the end of June 2018.

Liabilities of insurance companies amounted to 8.135 billion leva as of the end of June 2019. Equity capital was 2.268 billion leva at the end of June 2019, increasing by 13.3 per cent compared to the end of June 2018. At the end of the second quarter of 2019 its share in the overall liabilities was 27.9 per cent, compared to 26.3 per cent at the end of the same quarter of 2018. At the end of June 2019 insurance technical reserves increased by 10 per cent to 4.865 billion leva compared to the end of June 2018. Their share in the overall liabilities was 59.8 per cent at the end of June 2019 compared to 58.2 per cent at the end of June 2018.

Source: BTA