Generali Bulgaria is one of the biggest foreign insurers operating in this market.
€ 90.7 mln
With more than 430 employees in Bulgaria (including Generali Insurance AD, Generali Zakrila Medical and Dental Centre and GP Reinsurance) and the 7.4% P&C market share Generali Bulgaria is one of the major international insurers in Bulgaria.
Its operations include Generali Insurance AD (P&C insurance) and Generali Zakrila Medical and Dental Centre – an outpatient medical facility.
The company has 138 offices and client desks throughout the country. For better service of the liquidation process and convenience for the clients, the company has 16 specialized claims centres in the bigger cities of the country.
The insurance products of Generali Bulgaria are offered by 586 agents, two intermediaries offering insurance products as an additional activity and 266 brokers. In 2019, Generali Bulgaria is taking 7th position on the insurance market with gross written premium €90.7 million. The company is taking leading position in Accident insurance with 21% market share. Also 22% market share on Health insurance, Property insurance with 13% market share and Agriculture insurance with 27% market share, Travel insurance with 11% market share and Technical insurance with 13% market share.
GP Reinsurance GP Reinsurance EAD is a captive reinsurer based in Sofia, fully owned by Generali CEE Holding B.V. It provides P&C reinsurance solutions within the Group. In October 2017 the company acquired a license also for life reinsurance. The activity of GP Reinsurance EAD in 2019 continues to be managed in compliance with the strategic plan for development and goals, for which it was granted a license by the Financial Supervision Commission for performing reinsurance activities. The Company provides reinsurance services to companies from all countries of Generali CEE Holding. GP Reinsurance recorded gross written premium in P&C and life combined of €961 million and profit after tax amounted to €177 million in 2019.
As a part of Generali Group, GP Reinsurance follows the responsible investment strategy and active ownership and engagement policies of the Group. Generali are global institutional investors and asset management is a key aspect of the insurance business. It has a significant impact on the real economy, allowing the Group to actively influence areas such as environmental protection and respect for human rights and labour rights. As part of its strategy, Generali identifies, assesses, and monitors the investments that are most exposed to social, environmental and corporate governance risks for all the Group companies’ portfolios.