Generali Bulgaria is one of the biggest foreign insurers operating in this market.
€ 77 mln
With more than 440 employees in Bulgaria (including Generali Insurance AD, Generali Zakrila Medical and Dental Centre and GP Reinsurance) and the 8.6% 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 more than 114 offices and 51 client desks throughout the country. For better service of the liquidation process and convenience for the clients, the company has 15 specialized claims centres in the bigger cities of the country. The insurance products of Generali Bulgaria are offered by 630 agents and 307 brokers.
In 2017, Generali Bulgaria is taking 6th position on the insurance market with gross written premium more than €77 million. The company is taking leading position in Accident insurance with more than €5.9 million and 30% market share, Property insurance with 15% market share and Agriculture insurance with 24% market share. Second position on Travel insurance with 15% market share and Technical insurance with 21% market share. Also 20% market share and 3th position on Health insurance.
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 2017 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 P&C gross written premium of €777 million and profit after tax amounted to €138 million in 2017.