New Market Research Report: Bulgaria Insurance Report Q1 2016

From: Fast Market Research, Inc.
Published: Wed Jan 20 2016

We hold a modest outlook for the Bulgarian insurance industry as a whole. The life insurance sector is poised to grow faster than the non-life sector. Nevertheless, the overall size of the life sector combined with low household disposable income and a general lack of understanding of life insurance policies and their benefits is a serious constraint on the life insurance subsector outlook. Non-life insurance accounts for just under 80% of the premiums of the insurance industry with the motor vehicle sector having the lion's share of the non-life market. We believe growth will be slow but will track upwards in both sectors and all non-life lines over the course of our forecast period. Nevertheless, we retain our view that a sluggish economy coupled with low household spending powers will constrain the growth of the insurance industry over the course of our forecast period.

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