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Insurances in Lev Ins

Lev Ins

Market share: 10.7% in 2011
Revenue: 143.4 million BGN in 2011
Year of founding: 1996
Number of offices: 100
Products: 27

LEV INS AD insurance company was established in 1996. LEV INS AD holds License № 98 of the National Insurance Council for performing insurance activities.

The shareholders in the company are as follows:

  • Rahiti Meir Classic – investor № 1 in Bulgaria in 2003
  • Lev Corporation – business organization that includes over 90 companies with different activities in the field of manufacturing, transport, tourism, communications, corporate security, etc.
  • Since August 2007 one of the biggest US companies managing assets – Julius Baer Investment Management entered Lev Ins AD with two of its funds. As well as being an asset management company in the US Julius Baer is also known as one of the largest private banks in Switzerland.

LEV INS AD insurance company has a two-tier management system – a Supervisory Board and a Board of Directors:
Chairman of the Board of Directors and CEO - Stefan Sofianski
Members – Nursen Kozareva, Maria Maslarova, Miroslava Spasova, Pavel Dimitrov, Spaska Shtereva, Lazar Georgiev

LEV INS AD offers the full specter of insurance products and services in the general insurance sector:

  • Accident Insurance
  • Marine Insurance
  • Goods in Transit Insurance
  • Fire and Natural Perils Insurance
  • Property Damage Insurance
  • Crop Insurance
  • Construction and Installation Risks Insurance
  • MTPL Insurance
  • Liabilities Insurance
  • Travel Assistance
  • Miscellaneous Financial Losses Insurance

In August 2006 Lev Ins AD was granted an Active Reinsurance License. The company’s policy is in accordance with the global risk management standards. The company’s insurance portfolio is re-insured with globally renowned companies like Munich Re, Hannover Re, Lloyd’s, Polish Re, CCR, Liberty Mutual, Alliance Re, etc.

Lev Ins AD is a member of the Association of Bulgarian Insurers, the Federation for Private Business Initiatives and the Bulgarian-Israeli Chamber of Industry and Commerce.

Lev Ins AD has a good branch network around the country.

The company’s market share in the general insurance sector is 9.8%. This ranks Lev Ins AD sixth among the general insurance companies in Bulgaria in 2010. During the year the company had good results mostly in the field of motor insurance.

The structure of the company’s insurance portfolio in 2010 (general insurance) is as follows:

  • Third Party Liability Insurance – 76%
  • Motor Vehicle Casco Insurance – 21%
  • Property Insurance – 2%
  • Accident Insurance, General Third Party Liability Insurance, Guarantees – 1%

Life Insurance Institute AD has license for performing insurance activities – License № 758 / 09.12.2005 of the Financial Supervision Commission. The company has a one-tier management structure. The share capital amounts to 6 500 000 Bulgarian Leva and it is subscribed in full guaranteeing that all responsibilities to our partners will be fulfilled.

The major stake in the company is held by Lev Ins AD Insurance and Reinsurance Company. Another shareholder is Lev Corporation. In 2010 Life Insurance Institute AD had a 0.88% share on the life insurance market. The main life insurance products in the company’s portfolio are endowment insurance, risk life insurance and deferred life annuity insurance.

 

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