Bulgaria's insurance sector ended the first nine months of the year in the black, as losses from the mandatory motor third-party liability policy shrank drastically from August, showed the latest figures of the Financial Supervision Commission (FSC).
The combined profit of the nation's general insurers stood at EUR 15,9 million, with the core activity contributing with EUR 6,2 million. Premiums slipped by 0.2% from a year ago, as claims soared by 0.8%. The life insurance segment fared much worse, seeing premium income tumble by more than 15%, dragging it down by 2.5%. Insurers' losses on the mandatory motor third-party liability policies narrowed to EUR 2.3 million, from a staggering almost EUR 16,3 million in the previous month, said FSC's Deputy Chairman, Emil ATANASOV.
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