The insurance market in Bulgaria is very different from what it used to be 1 year ago, even 6 months ago.

First, the prices of products are higher, secondly, some of the companies are also operating on foreign markets now (or at least are doing their first attempts), and thirdly, the war for market share is still going on.

That war is held in different ways – opening new branches, introducing new products, acquiring smaller companies etc.

Let's not forget the massive advertising campaigns. Bulgarians are now relaxed because they have chosen the right company, some are champions, and some have made the intelligent choice.*

It looks like these strategies work. According to statistics by the Financial Supervision Commission, the company which increased its market share the most in the first nine months of the year is Energy Insurance and Reinsurane (by 2.89%). Its market share used to be 0.47% at the end of Q1.

Other big gainers are Bul Ins (2.13%), Armeets (1.50%) and Euroins (0.51%).

Bulgarian Properties and Interamerican Bulgaria have also improved their positions.

On the other hand, the market share of DZI General Insurance, Lev Ins, Allianz Bulgaria and Bulstrad shrunk the most.

№CompanySept 2007June 2007March 2007Difference1Bulstrad15.76%16.54%19.49%-3.72%2DZI General Insurance14.20%14.01%14.74%-0.54%3Allianz Bulgaria12.59%13.17%14.75%-2.16%4Bul Ins11.91%11.22%9.78%2.13%5Lev Ins7.18%7.94%8.20%-1.02%6Unica JSC7.06%6.82%7.33%-0.27%7Armeets JSC6.95%6.65%5.45%1.50%8Generali Isurance5.45%6.38%5.62%-0.17%9Euroins4.66%4.42%4.15%0.51%10Bulgarian Properties3.81%3.40%3.32%0.49%11Energy Insurance and Reinsurance3.36%2.46%0.47%2.89%12Viktoria2.01%1.95%1.90%0.11%13AIG Bulgaria1.55%1.68%1.67%-0.11%14Interamerican Bulgaria1.15%1.15%0.90%0.25%15HDI1.08%1.01%0.99%0.08%16Municipal Insurance Company0.54%0.52%0.46%0.09%17DSK Garanzi0.33%0.30%0.26%0.08%18UBB AIG0.22%0.21%0.32%-0.10%19Bulgarian Agency For Export Insurance0.19%0.16%0.22%-0.03%