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Personal Accident and Health Insurance in Bulgaria, Key Trends and Opportunities to 2020

  • Published Date: 30 Jun 2017
  • Number of Pages: 111
  • Category: Finance and Banking
  • Country: Bulgaria

Synopsis


Timetrics Personal Accident and Health Insurance in Bulgaria, Key Trends and Opportunities to 2020 report provides a detailed outlook by product category for the Bulgarian personal accident and health insurance segment, and a comparison of the Bulgarian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (20112015) and forecast period (20152020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bulgarian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetrics research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary


Timetrics Personal Accident and Health Insurance in Bulgaria, Key Trends and Opportunities to 2020 report provides in-depth market analysis, information and insights into the Bulgarian personal accident and health insurance segment, including:

An overview of the Bulgarian personal accident and health insurance segment

The Bulgarian personal accident and health insurance segments growth prospects by category

A comprehensive overview of the Bulgarian economy and demographics

A comparison of the Bulgarian personal accident and health insurance segment with its regional counterparts

The various distribution channels in the Bulgarian personal accident and health insurance segment

Details of the competitive landscape in the personal accident and health insurance segment in Bulgaria

Details of regulatory policy applicable to the Bulgarian insurance industry

Scope


This report provides a comprehensive analysis of the personal accident and health insurance segment in Bulgaria:

It provides historical values for the Bulgarian personal accident and health insurance segment for the reports 20112015 review period, and projected figures for the 20152020 forecast period.

It offers a detailed analysis of the key categories in the Bulgarian personal accident and health insurance segment, and market forecasts to 2020.

It provides a comparison of the Bulgarian personal accident and health insurance segment with its regional counterparts

It provides an overview of the various distribution channels for personal accident and health insurance products in Bulgaria.

It profiles the top personal accident and health insurance companies in Bulgaria, and outlines the key regulations affecting them.

Reasons To Buy


Make strategic business decisions using in-depth historic and forecast market data related to the Bulgarian personal accident and health insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Bulgarian personal accident and health insurance segment.

Assess the competitive dynamics in the personal accident and health insurance segment.

Identify growth opportunities and market dynamics in key product categories.

Gain insights into key regulations governing the Bulgarian insurance industry, and their impact on companies and the industrys future.

Key Highlights


On April 1, 2017, the National Framework Agreement of the National Health Insurance Fund came into effect. This agreement reinstated the contract basis between the National Health Insurance Fund and entities operating within the sector.

On January 1, 2017, the Bulgarian government amended the ordinance on the terms and conditions for the registration and regulation of pharmaceuticals prices. This amendment is to improve the existing pricing regime of pharmaceuticals regarding the home treatment of chronic, genetic and rare diseases that are paid for by the National Health Insurance Fund (NHIF) of Bulgaria.

Solvency II came into effect on January 1, 2016, and is expected to have a considerable effect on the Bulgarian insurance industry. It is a reform of risk-management and capital-adequacy requirements to ensure a more accurate allocation of capital to risk.

The personal accident and health segment accounted for 7.3% of the Bulgarian insurance industrys gross written premium in 2015.




Publisher Name : Timetric

Table of Contents


1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Claims
5.2 Health Insurance
5.2.1 Premium
5.2.2 Claims
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Claims
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Bulstrad Life Vienna Insurance Group JSC company overview
7.1.2 DZI General Insurance company overview
7.1.3 Victoria Insurance company overview
7.1.4 Allianz Bulgaria Life company overview
7.1.5 CCB Life company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Personal accident insurance for passengers on public transport
8.4.3 Workmens compensation
8.4.4 Air carriers and aircraft operators insurance
8.4.5 Professional indemnity insurance for alternative investment fund managers
8.4.6 Liability for ships with respect to oil pollution
8.4.7 Social insurance system
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Financial Supervision Commission
8.5.4 Federation of European Risk Management Associations
8.6 Non-Admitted Insurance Regulation
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.1.1 Claims and expenses
9.1.2 Assets and investments
9.1.3 Insurance brokers and agencies
9.1.4 Personal accident insurance
9.1.5 Health insurance
9.1.6 Health insurance by product
9.1.7 Travel insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetrics Services
11.4 Disclaimer



List of Tables


Table 1: Bulgarian Personal Accident and Health Insurance Key Facts, 2015
Table 2: Bulgarian Personal Accident and Health Insurance Segment Shares (%) of the Top Insurers, 2015
Table 3: Bulgarian Government Credit Ratings
Table 4: Bulgarian Personal Accident and Health Insurance Gross Written Premium (BGN Billion and US$ Million), 20112015
Table 5: Bulgarian Personal Accident and Health Insurance Penetration (%), 20112015
Table 6: Bulgarian Personal Accident and Health Insurance Gross Written Premium (BGN Billion and US$ Million), 20152020
Table 7: Bulgarian Personal Accident and Health Insurance Penetration (%), 20152020
Table 8: Bulgarian Personal Accident and Health Insurance Premium per Capita (BGN and US$), 20112015
Table 9: Bulgarian Personal Accident and Health Insurance Premium per Capita (BGN and US$), 20152020
Table 10: Bulgarian Personal Accident and Health Insurance Paid Claims (BGN Million and US$ Million), 20112015
Table 11: Bulgarian Personal Accident and Health Insurance Paid Claims (BGN Million and US$ Million), 20152020
Table 12: Bulgarian Personal Accident and Health Insurance Profitability Ratio (%), 20112015
Table 13: Bulgarian Personal Accident and Health Insurance Profitability Ratio (%), 20152020
Table 14: Bulgarian Personal Accident and Health Insurance Total Assets (BGN Million and US$ Million), 20112015
Table 15: Bulgarian Personal Accident and Health Insurance Total Assets (BGN Million and US$ Million), 20152020
Table 16: Bulgarian Personal Accident and Health Insurance Total Investment Income (BGN Million and US$ Million), 20112015
Table 17: Bulgarian Personal Accident and Health Insurance Total Investment Income (BGN Million and US$ Million), 20152020
Table 18: Bulgarian Personal Accident and Health Insurance Investment Portfolio (BGN Million), 20112015
Table 19: Bulgarian Personal Accident and Health Insurance Investment Portfolio (BGN Million), 20152020
Table 20: Bulgarian Personal Accident and Health Insurance Direct Written Premium by Category (BGN million), 20112015
Table 21: Bulgarian Personal Accident and Health Insurance Direct Written Premium by Category (BGN Million), 20152020
Table 22: Bulgarian Personal Accident Insurance Direct Written Premium (BGN Million and US$ Million), 20112015
Table 23: Bulgarian Personal Accident Insurance Direct Written Premium (BGN Million and US$ Million), 20152020
Table 24: Bulgarian Personal Accident Insurance Paid Claims (BGN Million and US$ Million), 20112015
Table 25: Bulgarian Personal Accident Insurance Paid Claims (BGN Million and US$ Million), 20152020
Table 26: Bulgarian Health Insurance Direct Written Premium by Sub-Category (BGN Million), 20112015
Table 27: Bulgarian Health Insurance Direct Written Premium by Sub-Category (BGN Million), 20152020
Table 28: Bulgarian Health Insurance Paid Claims (BGN Million and US$ Million), 20112015
Table 29: Bulgarian Health Insurance Paid Claims (BGN Million and US$ Million), 20152020
Table 30: Bulgarian Travel Insurance Direct Written Premium (BGN Million), 20112015
Table 31: Bulgarian Travel Insurance Direct Written Premium (BGN Million), 20152020
Table 32: Bulgarian Travel Insurance Paid Claims (BGN Million and US$ Million), 20112015
Table 33: Bulgarian Travel Insurance Paid Claims (BGN Million and US$ Million), 20152020
Table 34: Bulgarian Personal Accident and Health Insurance Market Shares of Leading Insurers (%), 2015
Table 35: Bulstrad Vienna Insurance Group Key Facts
Table 36: Bulstrad Vienna Insurance Group Key Financials (BGN Million), 20112015
Table 37: DZI General Insurance Key Facts
Table 38: DZI General Insurance Key Financials (BGN Million), 20112015
Table 39: Victoria Insurance Company Key Facts
Table 40: Allianz Bulgaria Life Key Facts
Table 41: Allianz Bulgaria Life Key Financials (BGN Million), 20112015
Table 42: CCB Life Key Facts
Table 43: Bulgaria Insurance Regulatory Framework Key Features
Table 44: Bulgaria Life Insurance Regulatory Framework
Table 45: Bulgaria Property Insurance Regulatory Framework
Table 46: Bulgaria Motor Insurance Regulatory Framework
Table 47: Bulgaria Liability Insurance Regulatory Framework
Table 48: Bulgaria Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
Table 49: Bulgaria Corporate Tax Rates for the Financial Year 2016
Table 50: Bulgarian Personal Accident and Health Insurance Industry Policies and Premium, 20112015
Table 51: Bulgarian Personal Accident and Health Insurance Industry Policies and Premium, 20152020
Table 52: Bulgarian Personal Accident and Health Insurance Claims and Expenses, 20112015
Table 53: Bulgarian Personal Accident and Health Insurance Claims and Expenses, 20152020
Table 54: Bulgarian Personal Accident and Health Insurance Assets and Investments, 20112015
Table 55: Bulgarian Personal Accident and Health Insurance Assets and Investments, 20152020
Table 56: Bulgarian Personal Accident and Health Insurance Insurance Brokers and Agencies, 20112015
Table 57: Bulgarian Personal Accident and Health Insurance Insurance Brokers and Agencies, 20152020
Table 58: Bulgarian Personal Accident and Health Insurance Personal Accident Insurance, 20112015
Table 59: Bulgarian Personal Accident and Health Insurance Personal Accident Insurance, 20152020
Table 60: Bulgarian Personal Accident and Health Insurance Health Insurance, 20112015
Table 61: Bulgarian Personal Accident and Health Insurance Health Insurance, 20152020
Table 62: Bulgarian Personal Accident and Health Insurance Health by Product, 20112015
Table 63: Bulgarian Personal Accident and Health Insurance Health by Product, 20152020
Table 64: Bulgarian Personal Accident and Health Insurance Travel Insurance, 20112015
Table 65: Bulgarian Personal Accident and Health Insurance Travel Insurance, 20152020
Table 66: Insurance Industry Definitions


List of Figures


Figure 1: Bulgarian Real GDP (BGN Billion), 20112020
Figure 2: Bulgarian BGNUS$ Exchange Rate, 20112020
Figure 3: Bulgarian Consumer Price Inflation (%), 20112020
Figure 4: Bulgarian Current Account Balance as Percentage of GDP (%), 20112020
Figure 5: Bulgarian Unemployment Rate, 20112020
Figure 6: Bulgarian Population by Age Group, 19902025
Figure 7: Bulgarian Personal Accident and Health Insurance Penetration Regional Comparison (%), 2015
Figure 8: Bulgarian Insurance Segment Direct Written Premium Shares Regional Comparison (%), 2015
Figure 9: Bulgarian Personal Accident and Health Insurance Gross Written Premium (BGN Million), 20112020
Figure 10: Bulgarian Personal Accident and Health Insurance Penetration (%), 20112020
Figure 11: Bulgarian Personal Accident and Health Insurance Premium per Capita (BGN), 20112020
Figure 12: Bulgarian Personal Accident and Health Insurance Paid Claims (BGN Million), 20112020
Figure 13: Bulgarian Personal Accident and Health Insurance Profitability Ratio (%), 20112020
Figure 14: Bulgarian Personal Accident and Health Insurance Total Assets (BGN Million), 20112020
Figure 15: Bulgarian Personal Accident and Health Insurance Total Investment Income (BGN Million), 20112020
Figure 16: Bulgarian Personal Accident and Health Insurance Investment Portfolio (BGN Million), 20112020
Figure 17: Bulgarian Personal Accident and Health Insurance Investment Portfolio Dynamics by Category, 20112020
Figure 18: Bulgarian Personal Accident and Health Insurance Direct Written Premium by Category (BGN Million), 20112020
Figure 19: Bulgarian Personal Accident and Health Insurance Direct Written Premium Dynamics by Category, 20112020
Figure 20: Bulgarian Personal Accident Insurance Direct Written Premium (BGN Million), 20112020
Figure 21: Bulgarian Personal Accident Insurance Paid Claims (BGN Million), 20112020
Figure 22: Bulgarian Health Insurance Direct Written Premium by Sub-Category (BGN Million), 20112020
Figure 23: Bulgarian Health Insurance Direct Written Premium Dynamics by Sub-Category, 20112020
Figure 24: Bulgarian Health Insurance Paid Claims (BGN Million), 20112020
Figure 25: Bulgarian Travel Insurance Direct Written Premium (BGN Million), 20112020
Figure 26: Bulgarian Travel Insurance Paid Claims (BGN Million), 20112020
Figure 27: Bulgarian Personal Accident and Health Insurance Market Shares of Leading Insurers (%), 2015
Figure 28: Bulgaria The Three Pillars of Solvency II
Figure 29: Bulgaria Insurance Supervision and Control at Various Levels
Figure 30: Bulgaria Insurance Regulatory Frameworks for Company Registration and Operation




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