New investment consultant

FSC acknowledges the qualification issued by a foreign body to Krassimir Tahchiev for operation as an investment consultant.

“Balkan Investment Company” AD is approved as in investment intermediary

FSC issued a license to “Balkan Investment Company” AD, Sofia for operation as an investment intermediary in Bulgaria and for transactions under art.54, item 3 from Public Offering of Securities Act /POSA/ – management of individual portfolios of securities and/or moneys, with the exception of portfolios of investment funds and pension funds;


New share issue of Doverie United Holding was registered

Financial Supervision Commission has decided to register with its register of public companies and other issuers the following issue of securities:
 Issuer: Doverie United Holding
Type of securities: ordinary, dematerialized, voting,  fully transferable shares
Size of the issue: 6 574 924 shares
Nominal value per share: BGN 1
It is issued as a result of the increase of the capital of Doverie United Holding, Sofia.

Two new licenses for insurance brokers

The Deputy Chairman of FSC, Head of Insurance Supervision Division,  has  issued a permission to “HRONOS” OOD, managed and represented by Tonya Petkova, to operate as an insurance broker within the territory of Republic of Bulgaria.
A permission to operate as an insurance broker was also issued to “TOTAL Ins” OOD.
The voluntary refusal of “INSURANCE BROKERAGE” EOOD, managed and represented by Ivailo Assenov, to operate as an insurance broker was approved by FSC.

Final draft of the Insurance Code adopted

The Commission adopted a Final draft of the Insurance Code. The draft of the Code shall be sent to the Ministry of Finance for further coordination with all interested parties.

The primary objectives of the code are :
–  To incorporate in one legal document all of the existing legal acts related to the insurance;
–  To harmonize the Bulgarian legislation with the European legislation in the area of insurance;
–  To overcome the imperfections and omissions  in the existing legal framework;
– To ensure higher effectiveness of the regulation in order to guarantee better protection of the insured persons;

New insurances offered by “Orel”AD have been approved

The Deputy Chairman of FSC, Head of Insurance Supervision Division  has  issued to the  insurance company “Orel”AD a supplementary permission to offer two  new insurances – “Aircraft” and “MTPL related to the ownership and usage of aircrafts”.