For the period 01.05.2021 – 31.05.2021 no notifications were received from the competent authorities of EU Member States regarding the intention of insurance companies based in EU Member States to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment or notifications regarding the withdrawal of the intention to carry out insurance activity on the territory of the Republic of Bulgaria.

As of the end of May 2021, the number of insurance companies based in other EU and EEA Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria under the principle of freedom to provide services, remains 427 (six hundred and twenty-seven).

During the same period, the FSC received notifications regarding the intention of 16 (sixteen) insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services, as well as 5 (five) notification for termination of the activity of insurance mediation on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

As of 31.05.2020, the insurance intermediaries based in Member States that have stated their intention to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment (through a branch) are 2,282 (two thousand two hundred and seventy-one).

During the period 01.05.2021 – 31.05.2021, the FSC has not sent any notifications to the competent supervisory authorities of EU Member States regarding the intention of insurers based in the Republic of Bulgaria to operate on their territory under the terms of freedom to provide services or notifications of withdrawal of the intention of an insurer based in the Republic of Bulgaria to carry out insurance activity on the territory of another Member State.

As of the end of May 2021, the total number of insurance companies based in the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

For the period 01.05.2021 – 31.05.2021 the FSC has not sent notifications to the competent supervisory authorities of the EU Member States about the intention of insurance intermediaries to operate on the territory of another Member State under the terms of freedom to provide services or the right of establishment.

At the end of the period, the total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 52 (fifty two) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.06.2021 to 30.06.2021 the FSC received 30 (thirty) notifications from competent authorities of EU Member States regarding the cross-border activity in Bulgaria of insurers and insurance intermediaries based in other EU Member States.

1 (one) notification was received for withdrawal of the intention of an insurer based in another EU Member State to carry out insurance activity in Bulgaria. As of the end of June 2021, the number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the principle of freedom to provide services, decreased to 426 (six hundred and twenty-six).

For the period, the FSC received 16 (sixteen) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 6 (six) notifications for termination of such activity in the country. As of 30.06.2021, there are 2,292 (two thousand two hundred and ninety-two) insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria

In June 2021, the FSC sent a notification to the national competent authorities of all EU Member States regarding the withdrawal of the intention of Bulgarian Export Insurance Agency EAD (BAEZ EAD) to carry out insurance activities under the conditions of freedom to provide services.

During the reporting period, the FSC provided information to the relevant competent supervisory authorities regarding the stated intention of Lev Ins AD to operate in Sweden, Denmark, Finland, Cyprus, Hungary, Croatia, Belgium, the Netherlands and Luxembourg for certain classes of insurance.

As of the end of June 2021, the total number of local insurance companies which have stated their intention to carry out insurance activities on the territory of other Member States of the EU and the EEA under the terms of freedom to provide services, decreased to 17.

For the period 01.06.2021 – 30.06.2021 the FSC did not send notifications regarding the intention of local insurance intermediaries to carry out cross-border activity on the territory of other Member States. At the end of the period, the total number of insurance intermediaries based in Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 52 (fifty two) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.07.2021 to 31.07.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 41 (forty-one) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

The FSC received 5 (five) notifications regarding the intention of insurance companies based in Member States of the EU to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services (registering insurance companies in the FSC list of notifications), as well as 1 (one) notification regarding the withdrawal of intention of one insurance company established in an EU Member State, to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

As of the end of July 2021, the number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the principle of freedom to provide services, increased to 430 (six hundred and thirty).

For the period, the FSC received 13 (thirteen) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 11 (eleven) notifications for termination of such activity in the country. As of 30.07.2021, there are 2,294 (two thousand two hundred and ninety-four) insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria

For the period 01.07.2021 – 31.07.2021 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance companies and insurance intermediaries based in the territory of the Republic of Bulgaria to carry out cross-border activity.

As of the end of July 2021, the total number of local insurance companies that have stated their intention to carry out insurance activities in the territory of other EU and EEA Member States under the terms of freedom to provide services is 17 (seventeen), and the total number of insurance intermediaries based in the Republic of Bulgaria, which have stated their intention to carry out insurance intermediation activities on the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 52 (fifty-two).

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.08.2021 to 31.08.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 90 (ninety) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

The FSC received 5 (five) notifications regarding the intention of insurance companies based in Member States of the EU to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services (registering insurance companies in the FSC list of notifications), as well as 24 (twenty-four) notifications regarding the withdrawal of intention of insurance companies established in EU Member States, to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

As of the end of August 2021, the number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the principle of freedom to provide services, increased to 411 (six hundred and eleven).

For the period, the FSC received 12 (twelve) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 41 (forty-one) notifications for termination of such activity in the country. As of 31.08.2021, there are 2,265 (two thousand two hundred and sixty-five) insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria

In August 2021, the FSC sent a notification to the national competent authority of Ireland regarding the withdrawal of the intention of Euroins AD to carry out cross-border activities on its territory.

For the period 01.08.2021 – 31.08.2021 the FSC has not sent notifications regarding the intention or withdrawal of the intention of insurance intermediaries based in the Republic of Bulgaria to carry out insurance intermediation activities under the terms of freedom to provide services or the right of establishment on the territory of EU Member States.

As of the end of August 2021, the total number of local insurance companies that have stated their intention to carry out insurance activities in the territory of other EU and EEA Member States under the terms of freedom to provide services remains 17 (seventeen), and the total number of insurance intermediaries based in the Republic of Bulgaria, which have stated their intention to carry out insurance intermediation activities on the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 52 (fifty-two).

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.09.2021 to 30.09.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 71 (seventy-one) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

2 (two) notifications were received regarding the intention of insurance companies based in EU Member States to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services, and by the end of September 2021 the total number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the terms of freedom to provide services, increased to 413 (four hundred and thirteen).

For the period, the FSC received 13 (thirteen) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 51 (fifty-one) notifications for termination of such activity in the country. As a result, as of 30.09.2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria decreased to 2,227 (two thousand two hundred and twenty-seven).

In September 2021, the FSC sent notifications to the national competent authorities of the EU Member States about the intention of a local insurer to expand the scope of the company’s cross-border activities in their territory for certain classes of insurance.

During the same period, the FSC sent a notification to the competent authorities of EU Member States about the intention of a local insurance broker to expand its insurance intermediation activities by operating under the terms of freedom to provide services in their territory, as well as a notification to the national competent authority of the Republic of France for the intention of another insurance broker to start insurance intermediation activity on its territory.

As of the end of September 2021, the total number of local insurance companies that have stated their intention to carry out insurance activities in the territory of other EU and EEA Member States under the terms of freedom to provide services is 17 (seventeen), and the total number of insurance intermediaries based in the Republic of Bulgaria, which have stated their intention to carry out insurance intermediation activities on the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 53 (fifty-three).

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.10.2021 to 31.10.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 41 (forty-one) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

1 (one) notification was received regarding the intention of an insurance company based in the Republic of Croatia to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services, and by the end of October 2021 the total number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the terms of freedom to provide services, increased to 414 (four hundred and fourteen).

For the period, the FSC received 8 (eight) notifications regarding the intention of insurance intermediaries based in EU Member States to carry out insurance mediation activities in Bulgaria under the terms of freedom to provide services, as well as 17 (seventeen) notifications for termination of such activity in the country. As a result, as of 31.10.2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria decreased to 2,218 (two thousand two hundred and eighteen).

For the period 01.10.2021 – 31.10.2021 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance companies and insurance intermediaries based in the territory of the Republic of Bulgaria to carry out cross-border activity.

As of the end of October 2021, the total number of local insurance companies that have stated their intention to carry out insurance activities in the territory of other EU and EEA Member States under the terms of freedom to provide services is 17 (seventeen), and the total number of insurance intermediaries based in the Republic of Bulgaria, which have stated their intention to carry out insurance intermediation activities on the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 53 (fifty-three).

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For the period from 01.11.2021 to 30.11.2021 the FSC received notifications from the competent authorities of Member States regarding the intention of 80 (eighty) insurers and insurance intermediaries based in other EU Member States to operate (entry or termination of the notification) on the territory of the Republic of Bulgaria under the terms of the freedom to provide services, including notifications for extension of the scope of the performed activity or provision of information for the change of addresses, representatives and other circumstances.

Notifications have been received from the national competent authorities of the EU Member States regarding the intention of 5 (five) insurance companies based in their territory to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services; only 4 (four) companies are registered so far, because 1 (one) of the notifications is expected to provide additional information. As of the end of November 2021, the number of insurance companies based in other EU and EEA Member States which intend to operate in Bulgaria under the principle of freedom to provide services, increased to 418 (six hundred and eighteen).

For the period from 01.11.2021 to 30.11.2021 the FSC received notifications from the competent supervisory authorities of EU Member States regarding the intention of 17 (seventeen) insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

Notifications from competent authorities of the EU Member States regarding the intention to suspend the activity of insurance intermediation on the territory of the Republic of Bulgaria under the terms of freedom to provide services for the period 01.11.2021 – 30.11.2021 have been received for 46 (forty-six) insurance intermediaries. As a result, as of 30.11.2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria decreased to 2,189 (two thousand one hundred and eighty-nine), while in October they were 2218.

For the period 01.11.2021 – 30.11.2021 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance companies based in the territory of the Republic of Bulgaria to carry out cross-border activity.

As of the end of November 2021, the total number of local insurance companies which have stated their intention to carry out insurance activities on the territory of other Member States of the EU and the EEA under the terms of freedom to provide services remains 17 (seventeen).

During the period the FSC has sent 1 (one) notification to the competent authorities of EU Member State regarding the intention of an insurance broker based in the Republic of Bulgaria to carry out cross-border insurance intermediation in their territory under the terms of the freedom to provide services.

The total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, increased to 54 (fifty four) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For December 2021 the FSC received 73 (seventy three) notifications from the competent authorities of EU Member States regarding the intention of insurers and insurance intermediaries based in other EU Member States to carry out cross-border activity on the territory of the Republic of Bulgaria under the terms of the freedom to provide services, including notifications for extension of the scope of the performed activity or provision of information for the change of addresses, representatives and other circumstances.

During this period, the FSC did not receive notifications from the national competent authorities of the EU Member States about the intention of insurance companies based in their territory to operate or cease operations in the Republic of Bulgaria under the conditions of freedom to provide services. . Therefore as of the end of 2021, the total number of insurance companies based in other Member States which intend to operate in Bulgaria under the principle of freedom to provide services, remains 418 (four hundred and eighteen).

For December 2021, the FSC received 21 (twenty-one) notifications from the competent supervisory authorities of EU Member States regarding the intention of insurance intermediaries based in EU Member States to carry out insurance intermediation activities in the territory of the Republic of Bulgaria under the terms of freedom to provide services.

During the same period, 42 (forty-two) notifications were received regarding the termination of insurance intermediation activities on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services. As a result, at the end of 2021, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border activities in the Republic of Bulgaria decreased to 2,168 (two thousand one hundred and sixty eight).

For December 2021 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance companies based in the territory of the Republic of Bulgaria to carry out cross-border insurance activity. Thus, at the end of 2021, the total number of local insurers which have stated their intention to carry out insurance activities on the territory of other Member States under the terms of freedom to provide services, remains 17 (seventeen).

During the period the FSC sent 1 (one) notification to the competent authorities of EU Member States regarding the intention of an insurance broker based in the Republic of Bulgaria to carry out cross-border insurance intermediation under the conditions of freedom to provide services in their territory, and 1 (one) notification of the intention of an insurance broker to extend its cross-border activity in the territory of the Member States under the conditions of freedom to provide services. Thus the total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, increased to 55 (fifty five) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

For January 2022 the FSC received 81 (eighty-one) notifications from the competent authorities of Member States regarding the intention of insurers and insurance intermediaries based in other EU Member States to operate on the territory of the Republic of Bulgaria under the terms of the freedom to provide services, including notifications for extension of the scope of the performed activity or provision of information for the change of addresses, representatives and other circumstances.

During the period no notifications were received from the national competent authorities regarding the intention of insurance companies to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment, but 1 (one) notification was received regarding the withdrawal of an insurer based in Hungary to operate on the territory of the Republic of Bulgaria under the conditions of the freedom to provide services.

As of the end of January 2022, the number of insurance companies based in other EU and EEA Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services, decreased to 417 (four hundred and seventeen).

In January 2022, the FSC received 16 (sixteen) notifications from the competent EU supervisory authorities regarding the intention of insurance intermediaries based in EU Member States to carry out insurance intermediation activities in the territory of the Republic of Bulgaria under the terms of freedom to provide services.

During the same period, 56 (fifty-six) notifications were received regarding the termination of insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of the freedom to provide services. As a result, at then end of January 2022, the number of insurance intermediaries based in EU Member States that have stated their intention to carry out cross-border insurance intermediation activities in Bulgaria decreased to 2,128 (two thousand one hundred and twenty-eight).

In January 2022, the FSC notified the competent authority of the Republic of Portugal the intention of 1 (one) local insurer to extend the classes of insurance it offers in the territory of that Member State. As of the end of January 2022, the total number of local insurance companies which have stated their intention to carry out insurance activities on the territory of other Member States of the EU and the EEA under the terms of freedom to provide services, remains 17.

For the period 01.01.2022 – 31.01.2022 the FSC has not sent notifications to the national competent authorities of the EU Member States regarding the intention or withdrawal of the intention of the insurance intermediaries based in the territory of the Republic of Bulgaria to carry out cross-border activity.

At the end of the period, the total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, remains 55 (fifty five) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

 For the purpose of informing and transparency to the Bulgarian public on the case of Certasig-Insurance and Reinsurance Company AD, registered in Romania, and in addition to the news published on 30.12.2020 the Financial Supervision Commission informs the persons who have claims from the company that there is information related to the protection of the rights and interests of users of insurance services on the website of the Romanian Guarantee Fund for Policyholders (GFP).

 Short guidelines for policyholders and beneficiaries from abroad in relation to the Certasig case are available in English at https://www.fgaromania.ro/wp-content/uploads/2020/09/Ghid_Certasig_en_.pdf. The document contains synthesized information on the protection provided by the insurance claims guarantee scheme in the Republic of Romania, on the authorized persons and on the procedure under which claims can be made.

 Forms for claims to the Romanian Guarantee Fund for Policyholders in English are available the website https://www.fgaromania.ro/en/claimant-forms/. In view of the instructions given in the guidelines for policyholders and beneficiaries that claims against the Romanian Guarantee Fund should be made in Romanian, they are also available in Romanian on the following website: https://www.fgaromania.ro/formulare/.

 According to the published information, persons who have claims for insurance compensation in connection with insurance events or for insurance premiums corresponding to the unexpired term of insurance contracts that have been terminated prematurely can now file their claims to the Romanian Guarantee Fund for Policyholders in Romania. Claims can be filed directly in the headquarters of the Romanian Guarantee Fund, by post (registered letter with confirmation of receipt), by e-mail or in other ways that guarantee submission and confirmation of receipt.

 The Financial Supervision Commission will continue to communicate the relevant information concerning the protection of the rights and interests of the users of insurance services in connection with all subsequent measures against the insurer and its branch in the Republic of Bulgaria on its website: www.fsc.bg.