As of the end of august 2014 Armeec maintains its leadership on market
A market share of 13.4 % and premium income of over BGN 127 million
According to official data by the Financial Supervision Commission, as of the end of August 2014 Armeec Jsc has maintained its leading position in the general insurance market with a market share of 13.4 % and premium income of BGN 127 573 thousand or 20 % more than the previous year.
Motor insurance has the largest share of the company’s portfolio. Armeec is the market leader in the Motor Casco Insurance Segment with over BGN 69 million in premium income and a 25 % market share. The Company has been the constant leader in the voluntary motor insurance market since May 2011. In the mandatory Motor Third Party Liability Insurance Armeec has generated premium revenues in excess of BGN 37 million and has a 10 % market share. Under this type of insurance Armeec has registered a 32 % growth compared to the previous year.
Armeec Jsc ranks first in the Travel Assistance Insurance as well. The company generated BGN 2 486 thousand in revenues which equates to a market share of 23 % and a growth of 20 % compared to the same period of 2013. Premium income from Accident Insurance has grown by 47 %.
As of the end of August 2014 the company is the market leader in Aviation Insurance with a market share of 45 % and a premium income of BGN 3 723 thousand which translates into a growth of 15 % compared to 2013.
Revenues from Liability Insurance, Property Insurance, Marine Insurance, Cargo, and Loan Insurance are also on the rise.