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The Non-Life Insurance Market In Bulgaria - 15 Years After The Country's Accession To The European Union

Author

Listed:
  • Rumen Erusalimov

    (D. A. Tsenov Academy of Economics)

  • Ventsislav Vasilev

    (D. A. Tsenov Academy of Economics)

  • Aneliya Paneva

    (D. A. Tsenov Academy of Economics)

Abstract

The main aim of the study is to establish the state and development of the leading insurance industry in our country – Non-Life Insurance, as well as to outline its importance as an economic sector and to determine its market structures after Bulgaria's accession to the European Union in 2007. The article traces the dynamics of gross written premiums realised by insurers in Non-Life Insurance during the period 2007-2021. The place of Non-Life Insurance in the Bulgarian economy has been established through the indicators "insurance penetration" and "insurance density". Its product structure for the same period has also been studied. As a result of the research, it is concluded that Non-Life Insurance in Bulgaria occupies a small share of the country's economy; Bulgarian citizens do not spend enough money on insurance, and the product structure of the market is dominated by Motor Insurance.

Suggested Citation

  • Rumen Erusalimov & Ventsislav Vasilev & Aneliya Paneva, 2023. "The Non-Life Insurance Market In Bulgaria - 15 Years After The Country's Accession To The European Union," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 32-46.
    • Handle: RePEc:dat:bmngmt:y:2023:i:1:p:32-46
    as

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    File URL: http://hdl.handle.net/10610/4724
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    References listed on IDEAS

    as
    1. Rumen Erusalimov & Nikolai Iliev, 2022. "The Impact Of Covid-19 On Development Of Motor Casco Insurance In Bulgaria," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 35-45.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    insurance market; Non-Life Insurance; insurance penetration; insurance density; product structure; structural changes;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G52 - Financial Economics - - Household Finance - - - Insurance

    Statistics

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