Review of the non-banking financial sector for the first quarter of 2008

Author: Press center
Published: 29 August 2008

In July, the market review of the non-banking financial sector for the first quarter of 2008 has been published. According to summarized data, at the end of the first quarter of 2008, the number of collective investment schemes has reached 78, 67 of which are mutual funds, and 11 are investment companies. The special investment purpose joint stock companies have increased their number with 4 companies, 3 of which provide real estate securitization, and one specializes in securitization of receivables, with which the number of special investment purpose joint stock companies reaches 65.
There is growth on the market of services, offered by special investment purpose companies and insurance companies. The assets of special investment purpose joint stock companies amount to 1 426mln. BGN, up to 31.03.2008, with 3, 95% growth for the quarter. The premium revenue of the insurance companies, performing non-life insurance activities, goes beyond 360mln. BGN (18, 12% growth), while the revenue of the insurance companies, performing life insurance activities, amounts to 64 mln.BGN (19, 74% growth) at the end of the first quarter. There is some decrease of 1, 73% in the assets of the funds, managed by pension  insurance companies, which up to 31.03.2008, amount to 2 278 mln.BGN. There is a substantial  decrease of 24, 80% in the assets of the collective investment schemes - down to 685 mln.BGN.