Bulgaria: Brokers generate 32.6% of insurance premiums in H1 2008
Bulgaria's insurance brokers accounted for 32.6 per cent of the market's premium income for the first half of 2008, data from Bulgaria's Financial Supervision Commission has showed. Brokers generated 278.6 million leva in premium revenue, the bulk of it from general insurance, an increase of 40 over the figure for the same period of 2007.
Insurance of road vehicles, rail vehicles excluded, fetched 60 per cent of the premiums. Brokers made more than 4.45 million leva premiums for EU and third-country companies. Motor third-party liability policies ranked second, making up 18 per cent of the premiums. Property covers accounted for six to seven per cent. Life and Annuity covers dominated in the life insurance segment.
Commissions stood at for 24 per cent of brokers' premiums. Accident policies bore the biggest commission fees, bringing 34.5 pct of the commission revenue, closely followed by marriage, child, and travel assistance policies. Brokers got an average of 27 pct of the signed motor third-party liability insurances as commission.
