Bulgaria Insurance Report Q1 2008 Highlights How the Bulgarian Market is Small but with Scope for Future Growth and Development.DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c91270) has announced the addition of "Bulgaria Insurance Report Q1 2008" to their offering. The Bulgaria Insurance Report provides independent forecasts and competitive intelligence on Bulgaria's insurance industry. This report differs from its predecessors in that it includes an Insurance Business Environment Rating (IBER IBER Institute of Business and Economic Research (University of California) IBER Image Block Error Rate ). The rating brings together a number of pieces of relevant quantitative data, together with a Country Risk Rating (CRR CRR Cash Reserve Ratio CRR Center for Retirement Research (Boston College) CRR Congestion Revenue Rights (electricity) CRR Center for Reproductive Rights CRR Certified Realtime Reporter ). It is now much easier to consider the business environment for the insurance sector in any one country relative to the business environment for other industries in that country that are surveyed by BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. , and the business environment for the insurance sector in other countries. Bulgaria's IBER is 50.7. Relative to other countries in Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. , it is not an attractive insurance market for foreign insurers. Within the region, Bulgaria stands out for its stable regulatory framework. Government policies are likely to remain constant over the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. . However, Bulgaria's IBER is held back by the very small size of the life segment and its BMI Country Risk Factors, particularly its external risk. Over the forecast period, we anticipate that non-life premiums will grow by 18% annually in local currency terms and by 18% in US$ terms. Life premiums are expected to increase by 10% annually in local currency terms and by 9% in US$ terms. The key drivers of growth in the non-life segment in 2007- 2012 are the anticipated rise in non-life density from around US$102 to US$178 and an expected increase in life density from US$18 per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. in 2007 to US$26 per capita in 2012. Bulgaria's total population is declining. The Bulgarian life market is small, with scope for future growth and development. There are few barriers to entry to either market, and foreign insurers are becoming well established in Bulgaria, although there is significant room for further expansion. Significant rationalisation Noun 1. rationalisation - (psychiatry) a defense mechanism by which your true motivation is concealed by explaining your actions and feelings in a way that is not threatening rationalization is likely in the future and this could give rise to new entrants in the life segment from overseas. Both the life and non-life sectors of the Bulgarian insurance market are unusually open to foreign participants. This is unusual for the region, where many remain in the control of former state monopolies. Overall, the industry is relatively fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. - notwithstanding that notwithstanding; although. See also: Notwithstanding particular local firms have dominance in particular areas and lines. This means that there is a potential for rationalisation, which is good news for multi-national insurers. Foreign insurers are becoming well established in Bulgaria, although there is significant room for further expansion. Over the medium term, an economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. may provide the catalyst for a substantial rationalisation of the non-life segment. There would appear to be plenty of potential to buy into the market through acquisitions of smaller local players in the life market. However, an economic slowdown seems likely in the medium term. The life segment is as yet very small, and volatility in Bulgaria's underdeveloped un·der·de·vel·oped adj. Not adequately or normally developed; immature. capital markets might also mean that the insurance market will be unpredictable. External risk has been identified as a problem for Bulgaria, and this is reflected in its low IBER. Contents: The Sector At A Glance Table: Overview Of Bulgaria's Insurance Sector Key Insights On Bulgaria's Insurance Sector SWOT Analysis Bulgaria Industry SWOT Key Features Of This Report Latest News Projections And Forecasts Table: BMI Projections (in millions of currency specified) Projections And Drivers Of Growth Table: Growth Drivers Country Update Macroeconomic Outlook Table: Bulgaria - Economic Activity Political Outlook Insurance Business Environment Rating Table: Bulgaria - Insurance Business Environment Indicators Table: Central & Eastern Europe Insurance Business Environment Ranking Regional Context Table: Non-Life Premiums In A Regional Context, 2007 Table: Life Premiums In A Regional Context, 2007 Table: Comparison Of Major Lines As % Non-Life Premiums, 2006 Analysis Of Competitive Conditions Bulgaria - Non-Life Segment Table: Presence Of Cross-Border Insurers, Non-Life Bulgaria - Life Segment Table: Presence Of Cross-Border Insurers, Life Methodology Basis Of Projections Insurance Business Environment Rating Table: Insurance Business Environment Indicators And Rationale Table: Weighting Of Indicators For more information visit http://www.researchandmarkets.com/reports/c91270 |
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