The assets of the insurers, re-insurers and health insurance companies, operating in Bulgaria amounted to BGN 2,603.5 million as of December 31, 2008, data of the Bulgarian National Bank (BNB) show.

This amount increased by BGN 375.3 million (16.8%), compared to 31.12.2007 (BGN 2,228.2 million). Compared to September 30, 2008 they increased by BGN 102.7 million (4.1%) from BGN 2 500.8 million to BGN 2,603.5 million as of the end of 2008.

The assets of the Life insurance companies increased by BGN 3.6 million (0.4%) from BGN 897 million as of December 30, 2008 to BGN 900.6 million as of December 31, 2008.

The General insurance companies assets increased by BGN 95.1 million (6.1%) from BGN 1,550.6 million as of December 30, 2008 to BGN 1,645.7 million as of 31.12.2008.

The largest share of the overall assets as of December 31, 2008 was held by General insurance companies (63.2%) against 62% on September 30, 2008 and 61.9% on December 31, 2007, respectively. Life insurance companies had a share of 34.6% as of December 31, 2008 against 35.9% on 30.09.2008 and 36.1% on December 31, 2007, respectively.

Among the instruments included in the portfolio of the insurers, re-insurers and health insurance companies as of December 31, 2008, the largest share of the overall assets belonged to deposits - 27.8% against 26.5% as of September 30, 2008, securities other than shares held 25.4% against 25.5% as of September 30, 2008 and claims presented 16.5% against 16.6% as of September 30, 2008. Assets in deposits as of December 31, 2008 increased by BGN 58.7 million (8.8%) to BGN 722.6 million, securities other than shares assets increased by BGN 26 million (4.1%) to BGN 662.5 million and other assets increased by BGN 5.7 million (2%) to BGN 295.6 million, compared to September 30, 2008. Shares and other equity assets as of December 31, 2008 decreased by BGN 27.9 million (10.9%) to BGN 227.6 million against BGN 255.4 million on September 30, 2008.

The currency breakdown of the insurers, re-insurers and health insurance companies assets indicates that as of December 31, 2008 of highest importance were the assets denominated in BGN - 79.6%, against 81.4% as of September 30, 2008, and EUR - 18.1%, against 16.2% as of September 30, 2008. The assets denominated in USD were 2.3% of the overall assets on December 31, 2008, which is a decrease by BGN 1.6 million (2.7%) from BGN 60.7 million as of the end of September 2008.

The geographical breakdown shows that the assets were mainly allocated to the domestic market, where 83.3% of the investments of insurers, re-insurers and health insurance companies were concentrated as of December 31, 2008, compared to 85.8% as of September 30, 2008. Investments in Bulgaria increased by BGN 21.5 million (1%) to BGN 2,167.5 million as at the end of last year. The assets invested in the EU countries increased by BGN 66.5 million (25.8%) to BGN 324.2 million as of December 31, 2008 against BGN 257.7 million on September 30, 2008.

The liabilities of insurers, re-insurers and health insurance companies amounted to BGN 2,603.5 million as of December 31, 2008. Among the instruments included in liabilities, insurance technical reserves raised most considerably during the period. Their amount increased by BGN 89.5 million (7.5%) to BGN 1,277.2 million on December 31, 2008, from BGN 1,187.7 million on September 30, 2008. The own capital liabilities amounted to BGN 902.5 million as at the end of 2008, which is an increase by BGN 19.3 million (2.2%) compared to the end of september (BGN 883.2 million). As of December 31, 2008 other liabilities decreased by BGN 8.9 million (3.3%) to BGN 265.8 million from BGN 274.7 million.

The largest share of the overall liabilities as at end-December 2008 belonged to insurance technical reserves - 49.1%, against 47.5% three months earlier. The own capital held a share of 34.7% as of the end of 2008, against 35.3% on September 30, 2008, and other assets share was 10.2%, against 11%.

The institutional sector breakdown of the insurance technical reserves liabilities as of December 31, 2008, shows that households and non-profit institutions serving households liabilities held the highest share - 25.7% against 28.2% as of September 30, 2008, monetary-financial institutions liabilities presented 22.7%, against 30.4% three months earlier and insurance companies and pension funds liabilities held 18.8% against 22.8%. Non-financial corporations liabilities on December 31, 2008 were 16.9% of the overall insurance technical reserves liabilities.

Non-financial corporations liabilities included in the insurance technical reserves were BGN 215.7 million as of December 31, 2008, which represents an increase by BGN 26.5 million (14%) from BGN 189.1 million as of September 30, 2008. The monetary-financial institutions liabilities as at the end of 2008 decreased by BGN 71.5 million (19.8%) to BGN 289.8 million, and insurance companies and pension fund liabilities decreased by BGN 29.7 million (11%) to BGN 240.6 million as of the end of 2008.