General Insurance Reports 1.7% Y/Y Growth for January-June

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General Insurance Reports 1.7% Y/Y Growth for January-June

The gross premiums written for January-June 2009 amounted to 735,612,000 leva in general insurance (1.7 per cent up, year-on-year), the Financial Suprevision Commission said in a press release Thursday.

General insurance claims amounted to 359,223,000 leva, up 0.8 per cent, year on year.

Insurance companies' gross technical provisions grew by 18.7 per cent, year on year, to 1,258,517,000 leva. General insurance companies' total assets were 1,712,221,000 leva at the end of June, up 16.2 per cent, year on year.

The technical result reported by general insurance companies amount to minus 6,238,000 leva, compared to minus 13,844,000 leva for the first half of 2008.

Premium income from direct general insurance amounted to 725,244,000 leva, compared to 710,322,000 leva for January-June 2008. By the end of June 2009 motor insurance took up the largest share of the direct general insurance market: Motor Own Damage Insurance (42.3 per cent) and Third Party Liability (27.4 per cent), or a total of 69.8 per cent of the premium income from direct general insurance in the sector.

Source: BTA

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