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Considerable Growth Expected in Coming Years.
(From PARI Daily)
Byline: Venislav YOTOV, management board chairman of the Association of Bulgarian Insurers
THIS year again we expect that insurance market growth will exceed the rate of economy growth. However, we should keep in mind that the starting base is extremely low. In 2005, as well as in the next ten years, the increase in the gross premium income will exceed 15% in general and life insurance. Nevertheless, the engines of growth in the two subsectors are different.
The rise in property insurance will continue to depend mainly on the inflow of fresh foreign investments in the construction of infrastructure and, regretfully to a lesser degree, on GDP growth.
The development of life insurance depends entirely on people's business activity and the increase in individual incomes. The incentives for ...
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