Decisions from FSC’s meeting held on 27 April, 2011

At its meeting on 27 April 2011, FSC took the following decisions:

1. Approved a prospectus for initial public offering of an issue of shares, which will be issued as result of increase in the capital of Bulstrad Vienna Insurance Group Plc, city of Sofia. The issue is to the amount of 613 647 common shares with right to vote, with right to dividend and liquidation quota, proportionate to the par value of the share, with a par value to the amount of BGN 10 each and issue value of BGN 49. Entered in the public register the above stated issue / in process of issuing/.

2. Entered an issue of shares with the purpose of trading on a regulated securities market, issued as a result of increase in the capital of Investor BG AD, city of Sofia, from BGN  1 199 460 to BGN 1 438 695. The issue is at the amount of BGN 239 235, divided into 239 235 common, freely negotiable shares with right to vote, with a par value of BGN 1 each. 

3. Entered an issue of shares with the purpose of trading on a regulated securities market, issued as a result of increase in the capital of Industrial Holding Bulgaria AD, city of Sofia, from BGN 58 282 079 to BGN 67 978 543. The issue is at the amount of BGN 9 696 464, divided into 9 696 464 common shares with right to vote, with a par value of BGN 1 each. 

4. G P A Group JSC, city of Sofia, notified FSC of its intention to carry out activity as insurance broker on the territory of Romania under freedom to provide services within the EU. FSC will inform the relevant competent authority of the host Member State about the intention of the insurance broker.

Decisions from FSC’s meeting held on 24 February, 2011

At its meeting on 24 February 2011, FSC took the following decisions:

1. Granted a license to Alaric Securities Ltd., city of Sofia (in process of incorporation) to pursue the business of an investment intermediary within the European Union and the European Economic Area. Alaric Securities Ltd., II, is with capital amounting to               BGN 100 000, divided in 100 shares with a nominal value of BGN 1000 each and the company satisfies the legal requirement of Art. 8, para 2 of the Markets in Financial Instruments Act about the minimum amount of the registered capital of an investment intermediary, which does not hold clients’ cash and financial instruments.
Founders of Alaric Securities Ltd., II, are the natural persons Andon Panayotov with 20 % and Magdalina Alexandrova with 80 % of the company’s capital. Managers of the company are Andon Panayotov and Radoslav Ivanov.

2. Approved a prospectus for public offering of an issue of shares, which will be issued by Evrohold Bulgaria AD, city of Sofia, as a result of increase in the capital of the company. The issue is to the amount of 62 497 636 common voting shares, with a right to dividend or liquidation quota, proportionate to the share’s par value, with a par and issue value of BGN 1 each. Entered the above issue of shares in the Register kept by FSC.

3. Approved corrected tender offer by Blyasak EOOD, city of Sofia, for the purchase through investment intermediary Central Cooperative Bank AD, city of Sofia, of shares of Velgraf Asset Management AD, city of Sofia, from the other shareholders of the company. The offered price per share is BGN 2,30.

4. I P S Services OOD, city of Varna, notified FSC of its intention to carry out activity as an insurance broker under freedom to provide services on the territory of Germany and Cyprus.

5. Adopted an Ordinance on amendment and supplement of Ordinance № 35 on the capital adequacy and liquidity of investment intermediaries. The Ordinance transposes provisions of Directive 2010/76/ЕС.
The main amendments are related to the introduction of requirements for the remunerations of top management staff, of officials whose work is connected with risk assumption and of officials, carrying out control functions. The Ordinance will be promulgated in State Gazette.

Decisions from FSC’s meeting held on 20 April, 2011

At its meeting on 20 April  2011, FSC took the following decisions:

1. Approved a prospectus for initial public offering of an issue of corporate bonds, which will be issued by Sofia Hotel Balkan AD, city of Sofia. The issue is at the amount of Euro 10 000 000, divided into 100 000 common bonds with a par value of Euro 100 each, 10% annual interest, with interest payments every 12 months, the principal being paid in one lump sum on the maturity date, and the term of the bond loan is 10 years, considered from the date of the bond loan conclusion.  Entered in the public register the above issue / in process of issuing/.

2. Approved a prospectus for initial public offering of an issue of shares, which will be issued as a result of increase in the capital of Sofia Hotel Balkan AD, city of Sofia.  The issue is to the amount of 4 785 360 common shares entitling to one vote, right to dividend and liquidation quota, proportionate to the par value of the share, with a par value BGN 1 each and issue value of BGN 3.60 each. Entered in the public register the above issue / in process of issuing/.

3. Entered an issue of shares with the purpose of trading on a regulated market, issued as a result of increase in the capital of Asenova Krepost AD, town of Asenovgrad, from BGN  1 232 568 to BGN 3 632 568. The issue is to the amount of BGN 2 400 000, divided into 800 000 common shares with right to vote, with a par value of BGN 3 each.

4. Entered in the register Debitum Invest SPV, city of Sofia, as a public company.

Entered an issue of shares with the purpose of trading on a regulated market, issued by Debitum Invest SPV, city of Sofia, representing the registered capital of the company. The issue is at the amount of BGN 650 000, divided into 650 000 common shares with right to vote, with a par value BGN 1 each.

Decisions from a meeting of FSC on 23 March, 2011

At its meeting held on 23 March, 2011, FSC took the following decisions:

1. Entered an issue of shares, issued by Mekom AD, town of Silistra, issued as a result of increase in the capital of the company. The issue is at the amount of BGN 284 775, divided in  284 775 obligatorily convertible preference shares without right to vote, with 18% guaranteed dividend, having a par value of BGN 1 each.

2. Approved a prospectus for public offering of shares of Intercapital Property Development REIT, city of Sofia, at the amount of BGN 9 017 214, divided into 9 017 214 common shares with a par value of BGN 1 each and issue value of BGN 2.30 each. Entered the issue of shares (in process of issuing) in the FSC Register.

3. Halifax Consultancy EOOD, city of Burgas, notified FSC of its intention to carry out activity as an insurance broker. The company intends to pursue business under the freedom to provide services on the territory of Ireland and the United Kingdom. FSC will inform the relevant competent authorities of the host Member States about the intention of the insurance broker to pursue business on their territory.

Decision of the meeting of the FSC Board from June 16, 2017

At its meeting as of June 16, 2017 FSC decided

To prohibit the free disposal of the assets of Nadejda JSC Insurance Company for a period of one month from the moment of the issue of this decision, with regard to the established violations of the legal framework related to the formation of the technical provisions, as well as due to the ascertained breach of the minimum capital requirements by the above mentioned company.

To prohibit to Nadejda JSC Insurance Company, for a period of one month from the date of receipt of this decision, to conclude new insurance or reinsurance contracts on all classes of insurance, to extend the term of the concluded contracts and to expand the coverage thereof.

To appoint for one month Rozalina Gradinarova-Stoyanova as administrator of Nadejda JSC Insurance Company. The administrator shall perform all functions and have all authority in relation to management and representation of Nadejda JSC Insurance Company, including the functions as an employer. The administrator shall establish the financial situation of the undertaking, remove the violations and manage the undertaking  in the interest of the insured persons and the beneficiaries. The authority of the administrator shall not be limited by the Statute of the Insurer. Notwithdstanding her statutory authority, the administrator shall be appointed with the main task of establishing the financial situation of Nadejda JSC Insurance Company.

Decision of the meeting of the FSC Board from June 16, 2017

At its meeting as of June 16, 2017 FSC decided

To prohibit the free disposal of the assets of Nadejda JSC Insurance Company for a period of one month from the moment of the issue of this decision, with regard to the established violations of the legal framework related to the formation of the technical provisions, as well as due to the ascertained breach of the minimum capital requirements by the above mentioned company.

To prohibit to Nadejda JSC Insurance Company, for a period of one month from the date of receipt of this decision, to conclude new insurance or reinsurance contracts on all classes of insurance, to extend the term of the concluded contracts and to expand the coverage thereof.

To appoint for one month Rozalina Gradinarova-Stoyanova as administrator of Nadejda JSC Insurance Company. The administrator shall perform all functions and have all authority in relation to management and representation of Nadejda JSC Insurance Company, including the functions as an employer. The administrator shall establish the financial situation of the undertaking, remove the violations and manage the undertaking  in the interest of the insured persons and the beneficiaries. The authority of the administrator shall not be limited by the Statute of the Insurer. Notwithdstanding her statutory authority, the administrator shall be appointed with the main task of establishing the financial situation of Nadejda JSC Insurance Company.

Decision from FSC’s meeting held on 9 March, 2011

At its meeting on 9 March, 2011, FSC took the following decision:

1.  Sivov – Group EOOD, town of Burgas notified FSC of its intention to carry out activity as insurance broker under the freedom to provide services on the territory of Romania, Greece, Poland, Hungary, Austria, Germany, Italy, France and the United Kingdom. FSC will inform the relevant competent authorities of the host Member States about the intention of the insurance broker to pursue business on their territories.

Decision from FSC’s meeting held on 1 March, 2011

At its meeting on 1 March, 2011, FSC took the following decisions:

1. Approved the prospectus for admission to trading on a regulated market of an issue of secured corporate bonds, issued by T B I Credit EAD, city of Sofia. The issue is at the amount of Euro 6 000 000, divided into 6 000 common bonds with fixed interest at the rate of 9%, with a par and issue value of Euro 1000 each, with interest payments in every 6-month period, the term of the bonds issue is 5 years, considered from 17.12.2010 and with maturity date – 17.12.2015.

The above bonds issue was entered in the public register.

Data on the value and the number of paid and filed claims under the Motor Third Party Liability Insurance, including by risk groups, as of 31.12.2021

The presented final data on the value and number of paid and filed claims under Motor Third Party Liability Insurance, including by risk groups, as of 31.12.2021 are published on the FSC website – section “Insurance Activity”, “Statistics”, “Non-life Insurance”, “2021”. The data do not include insurance contracts that are concluded by insurers under the right of establishment or under the terms of freedom to provide services.

Data on the value and the number of paid and filed claims under the Motor Third Party Liability Insurance, including by risk groups, as of 31.12.2020

 The presented final data on the value and number of paid and filed claims under Motor Third Party Liability Insurance, including by risk groups, as of 31.12.2020 are published on the FSC website – www.fsc.bg, section “Insurance activity”, “Statistics”, “Non-life Insurance”, “2020”. The data do not include insurance contracts that are concluded by insurers under the right of establishment or under the terms of freedom to provide services.